Congress Large Correlations

CMLIX Fund

USD 49.68 0.22 0.44%

The current 90-days correlation between Congress Large Cap and Nationwide Growth Fund is 0.71 (i.e., Poor diversification). The correlation of Congress Large 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.

Congress Large Correlation With Market

Poor diversification

The correlation between Congress Large Cap and DJI is 0.68 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Congress Large Cap and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Congress Large Cap. 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 gross domestic product.

Moving together with Congress Mutual Fund

0.97	VIGAX	Vanguard Growth Index	Pair Corr
0.81	FIKGX	Fidelity Advisor Sem	Pair Corr
0.74	BTECX	Baron Select Funds	Pair Corr
0.69	INTC	Intel Aggressive Push	Pair Corr

Moving against Congress Mutual Fund

0.36

Verizon Communications

Pair Corr

Related Correlations Analysis

	GGFRX	CIPMX	OPTCX	OWLSX	PATFX	PBLIX	STARX
GGFRX		0.86	0.83	0.72	0.3	0.74	0.87	GGFRX
CIPMX	0.86		0.71	0.51	0.18	0.54	0.67	CIPMX
OPTCX	0.83	0.71		0.69	0.35	0.77	0.87	OPTCX
OWLSX	0.72	0.51	0.69		-0.06	0.97	0.85	OWLSX
PATFX	0.3	0.18	0.35	-0.06		0.0	0.22	PATFX
PBLIX	0.74	0.54	0.77	0.97	0.0		0.89	PBLIX
STARX	0.87	0.67	0.87	0.85	0.22	0.89		STARX
	GGFRX	CIPMX	OPTCX	OWLSX	PATFX	PBLIX	STARX

Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

PBLIX	+ 0.97	OWLSX
STARX	+ 0.89	PBLIX
STARX	+ 0.87	GGFRX
STARX	+ 0.87	OPTCX
CIPMX	+ 0.86	GGFRX
STARX	+ 0.85	OWLSX

High negative correlations

PATFX	- 0.06	OWLSX
PBLIX	- 0.0	PATFX

Risk-Adjusted Indicators

There is a big difference between Congress Mutual Fund performing well and Congress Large 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 Congress Large'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
GGFRX	0.65	0.04	0.03	0.12	0.72	(0.74)	1.43	(1.17)	6.65
CIPMX	1.05	0.30	0.32	0.74	0.39	(1.46)	1.68	(1.22)	22.87
OPTCX	0.16	(0.01)	(0.26)	0.03	0.13	(0.22)	0.40	(0.40)	1.01
OWLSX	0.51	0.04	0.02	0.13	0.51	(0.55)	1.17	(0.99)	3.12
PATFX	0.09	0.02	(0.39)	(1.73)	0.00	(0.13)	0.27	(0.18)	0.72
PBLIX	0.51	0.03	0.00	0.12	0.56	(0.55)	1.02	(1.11)	2.79
STARX	0.41	(0.02)	(0.08)	0.04	0.55	(0.41)	0.79	(0.85)	2.08

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