Mid-cap Profund Correlations

MDPIX Fund

USD 132.22 2.16 1.66%

The current 90-days correlation between Mid Cap Profund and Calvert Global Energy is 0.43 (i.e., Very weak diversification). The correlation of Mid-cap Profund 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.

Mid-cap Profund Correlation With Market

Almost no diversification

The correlation between Mid Cap Profund Mid Cap and DJI is 0.9 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mid Cap Profund Mid Cap and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Mid Cap Profund Mid 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 Mid-cap Mutual Fund

0.88	TEPIX	Technology Ultrasector	Pair Corr
0.88	TEPSX	Technology Ultrasector	Pair Corr
0.94	LGPIX	Large Cap Growth	Pair Corr
0.94	LGPSX	Profunds Large Cap	Pair Corr
0.94	OTPIX	Nasdaq 100 Profund	Pair Corr
0.66	UJPIX	Ultrajapan Profund	Pair Corr
0.94	OTPSX	Nasdaq 100 Profund	Pair Corr
0.66	UJPSX	Ultrajapan Profund	Pair Corr
0.99	MLPSX	Mid Cap Value	Pair Corr
0.99	MLPIX	Mid Cap Value	Pair Corr
0.8	ENPSX	Oil Gas Ultrasector	Pair Corr
0.8	ENPIX	Oil Gas Ultrasector	Pair Corr
0.83	BTCFX	Bitcoin Strategy Profund	Pair Corr
0.8	PHPIX	Pharmaceuticals Ultrasector	Pair Corr
0.8	PHPSX	Pharmaceuticals Ultrasector	Pair Corr
0.94	INPIX	Internet Ultrasector	Pair Corr
0.94	INPSX	Internet Ultrasector	Pair Corr
0.96	ULPIX	Ultrabull Profund	Pair Corr
0.96	ULPSX	Ultrabull Profund	Pair Corr
0.94	WCPIX	Mobile Telecommunicatio	Pair Corr
0.94	WCPSX	Mobile Telecommunicatio	Pair Corr
0.89	CYPSX	Consumer Services	Pair Corr
0.89	CYPIX	Consumer Services	Pair Corr
0.95	SVPIX	Small Cap Value	Pair Corr
0.95	SVPSX	Small Cap Value	Pair Corr
0.79	RRPSX	Rising Rates Opportunity	Pair Corr
1.0	UMPSX	Ultramid Cap Profund	Pair Corr
1.0	UMPIX	Ultramid Cap Profund	Pair Corr

Moving against Mid-cap Mutual Fund

1.0	UIPIX	Ultrashort Mid Cap	Pair Corr
1.0	UIPSX	Ultrashort Mid Cap	Pair Corr
0.96	BRPIX	Bear Profund Bear	Pair Corr
0.96	BRPSX	Bear Profund Bear	Pair Corr
0.79	GVPIX	Us Government Plus	Pair Corr
0.79	GVPSX	Us Government Plus	Pair Corr
0.76	UKPSX	Ultrashort Japan Profund	Pair Corr
0.76	UKPIX	Ultrashort Japan Profund	Pair Corr
0.98	SHPIX	Short Small Cap	Pair Corr
0.98	SHPSX	Short Small Cap	Pair Corr

Related Correlations Analysis

	CGAEX	HNRGX	APWEX	ALTEX	ICBAX	ENPSX	GMOWX
CGAEX		-0.16	-0.2	0.85	-0.06	-0.22	0.74	CGAEX
HNRGX	-0.16		0.89	-0.15	0.88	0.99	0.17	HNRGX
APWEX	-0.2	0.89		-0.31	0.88	0.89	-0.03	APWEX
ALTEX	0.85	-0.15	-0.31		-0.12	-0.22	0.84	ALTEX
ICBAX	-0.06	0.88	0.88	-0.12		0.84	0.05	ICBAX
ENPSX	-0.22	0.99	0.89	-0.22	0.84		0.14	ENPSX
GMOWX	0.74	0.17	-0.03	0.84	0.05	0.14		GMOWX
	CGAEX	HNRGX	APWEX	ALTEX	ICBAX	ENPSX	GMOWX

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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

ENPSX	+ 0.99	HNRGX
APWEX	+ 0.89	HNRGX
ENPSX	+ 0.89	APWEX
ICBAX	+ 0.88	HNRGX
ICBAX	+ 0.88	APWEX
ALTEX	+ 0.85	CGAEX

High negative correlations

ALTEX	- 0.31	APWEX
ENPSX	- 0.22	ALTEX
ENPSX	- 0.22	CGAEX
APWEX	- 0.2	CGAEX
HNRGX	- 0.16	CGAEX
ALTEX	- 0.15	HNRGX

Risk-Adjusted Indicators

There is a big difference between Mid-cap Mutual Fund performing well and Mid-cap Profund 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 Mid-cap Profund'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
CGAEX	0.74	(0.08)	0.00	(0.05)	0.00	0.00	1.56	(1.90)	4.71
HNRGX	0.92	0.05	0.03	0.18	1.04	(0.98)	1.84	(1.85)	5.32
APWEX	0.89	0.10	0.08	0.21	0.95	(0.97)	2.01	(1.67)	5.80
ALTEX	1.35	(0.19)	0.00	(0.05)	0.00	0.00	2.83	(2.74)	9.14
ICBAX	0.81	0.01	0.05	0.13	0.67	(0.93)	1.94	(1.24)	6.37
ENPSX	1.38	0.06	0.04	0.18	1.79	(1.37)	2.58	(3.07)	7.85
GMOWX	1.09	(0.09)	0.00	(0.04)	0.00	0.00	1.88	(2.79)	7.69

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