Pzena International Correlations

PZVNX Fund

USD 11.20 0.23 2.10%

The current 90-days correlation between Pzena International Value and Principal Lifetime Hybrid is 0.42 (i.e., Very weak diversification). The correlation of Pzena International is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

Pzena International Correlation With Market

Significant diversification

The correlation between Pzena International Value and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Pzena International Value and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Pzena International Value. Also, note that the market value of any mutual fund could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

Moving together with Pzena Mutual Fund

0.81	PZIEX	Pzena Emerging Markets	Pair Corr
1.0	PZINX	Pzena International Value	Pair Corr
0.81	PZVEX	Pzena Emerging Markets	Pair Corr
0.95	DOXFX	Dodge Cox International	Pair Corr
0.9	OANIX	Oakmark International	Pair Corr
0.95	DODFX	Dodge International Stock	Pair Corr
0.88	OAKIX	Oakmark International	Pair Corr
0.9	OAYIX	Oakmark International	Pair Corr
0.9	OAZIX	Oakmark International	Pair Corr
0.94	FINVX	Fidelity Series Inte	Pair Corr
0.77	VTRIX	Vanguard International	Pair Corr
0.9	RRIGX	T Rowe Price	Pair Corr
0.73	PFN	Pimco Income Strategy	Pair Corr
0.68	CIF	Mfs Intermediate High	Pair Corr
0.68	NXJ	Nuveen New Jersey	Pair Corr
0.77	XPPRX	Voya Prime Rate	Pair Corr
0.89	PCF	Putnam High Income	Pair Corr
0.96	MRSJX	Mfs Research Interna	Pair Corr
0.68	BLDAX	Blackrock Low Duration	Pair Corr
0.65	EFEAX	Ashmore Emerging Markets	Pair Corr
0.92	FSREX	Fidelity Series Real	Pair Corr
0.63	GMOIX	Gmo International Equity	Pair Corr
0.94	TWAIX	Thrivent Partner Wor	Pair Corr
0.88	WTSIX	Wisdomtree Digital Trust	Pair Corr
0.94	HLDYX	Hartford Emerging	Pair Corr
0.67	MIXAX	Mainstay Indexed Bond	Pair Corr
0.85	PRVDX	Versatile Bond Portfolio	Pair Corr
0.85	RTEHX	American High Income	Pair Corr
0.7	BLDPX	Blackrock Low Duration	Pair Corr

Related Correlations Analysis

	PLKTX	TADGX	HCVAX	RETSX	GBAYX	DOXGX	GGRYX	WMFFX
PLKTX		0.83	0.91	0.85	0.86	0.78	0.94	0.95	PLKTX
TADGX	0.83		0.8	0.64	0.81	0.82	0.83	0.86	TADGX
HCVAX	0.91	0.8		0.71	0.93	0.87	0.97	0.86	HCVAX
RETSX	0.85	0.64	0.71		0.79	0.59	0.75	0.8	RETSX
GBAYX	0.86	0.81	0.93	0.79		0.82	0.91	0.86	GBAYX
DOXGX	0.78	0.82	0.87	0.59	0.82		0.92	0.75	DOXGX
GGRYX	0.94	0.83	0.97	0.75	0.91	0.92		0.88	GGRYX
WMFFX	0.95	0.86	0.86	0.8	0.86	0.75	0.88		WMFFX
	PLKTX	TADGX	HCVAX	RETSX	GBAYX	DOXGX	GGRYX	WMFFX

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Risk-Adjusted Indicators

There is a big difference between Pzena Mutual Fund performing well and Pzena International Mutual Fund doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Pzena International's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
PLKTX	0.57	0.00	0.00	(0.06)	0.00	0.00	1.06	(1.34)	3.50
TADGX	0.54	(0.02)	0.00	(0.09)	0.00	0.00	0.93	(1.18)	4.39
HCVAX	0.27	0.02	0.15	0.02	0.35	(0.28)	0.62	(0.44)	1.69
RETSX	0.60	(0.03)	0.00	0.10	0.00	0.00	1.03	(1.48)	3.57
GBAYX	0.31	0.00	0.13	(0.08)	0.42	(0.33)	0.60	(0.59)	2.14
DOXGX	0.50	0.04	0.08	0.00	0.75	(0.48)	1.27	(1.04)	3.03
GGRYX	0.43	0.01	0.00	(0.03)	0.00	0.00	0.71	(0.91)	2.78
WMFFX	0.64	(0.02)	0.00	(0.11)	0.00	0.00	1.21	(1.25)	5.83

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Pzena International Correlations

Pzena International Correlation With Market

Significant diversification

Moving together with Pzena Mutual Fund

Related Correlations Analysis

Risk-Adjusted Indicators

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