Parnassus Endeavor Correlations

PARWX Fund

USD 58.80 0.50 0.86%

The current 90-days correlation between Parnassus Endeavor and Vanguard Value Index is 0.02 (i.e., Significant diversification). The correlation of Parnassus Endeavor 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.

Parnassus Endeavor Correlation With Market

Very poor diversification

The correlation between Parnassus Endeavor Fund and DJI is 0.86 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Parnassus Endeavor Fund 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 Parnassus Endeavor Fund. 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 housing.

Moving together with Parnassus Mutual Fund

0.91	PFGEX	Parnassus Funds	Pair Corr
0.94	PFPRX	Parnassus Fund Inst	Pair Corr
0.98	PFPMX	Parnassus Mid Cap	Pair Corr
1.0	PFPWX	Parnassus Endeavor	Pair Corr
0.9	PRBLX	Parnassus E Equity	Pair Corr
0.96	PRILX	Parnassus Equity Incme	Pair Corr
0.98	PARMX	Parnassus Mid Cap	Pair Corr
0.94	PARNX	Parnassus Fund Investor	Pair Corr
0.9	VVIAX	Vanguard Value Index	Pair Corr
0.86	DOXGX	Dodge Cox Stock	Pair Corr
0.95	AFMFX	American Mutual	Pair Corr
0.87	FFMMX	American Funds American	Pair Corr
0.87	FFFMX	American Funds American	Pair Corr
0.94	AMRMX	American Mutual	Pair Corr
0.87	AMFFX	American Mutual	Pair Corr
0.86	AMFCX	American Mutual	Pair Corr
0.92	DODGX	Dodge Stock Fund	Pair Corr
0.97	VIVAX	Vanguard Value Index	Pair Corr
0.84	SCRYX	Small Cap Core	Pair Corr
0.88	LTFOX	Lord Abbett Affiliated	Pair Corr
0.89	FEMDX	Franklin Emerging Market	Pair Corr
0.78	RIV	Rivernorth Opportunities	Pair Corr
0.79	RQECX	Resq Dynamic Allocation	Pair Corr
0.95	VTSMX	Vanguard Total Stock	Pair Corr
0.92	LLPFX	Longleaf Partners	Pair Corr
0.9	FBALX	Fidelity Balanced	Pair Corr
0.85	GAB	Gabelli Equity Trust	Pair Corr

Moving against Parnassus Mutual Fund

0.51	GAAKX	Gmo Alternative Allo	Pair Corr
0.5	GAAGX	Gmo Alternative Allo	Pair Corr
0.49	GPBFX	Gmo E Plus	Pair Corr
0.41	PFPLX	Parnassus Fixed Income	Pair Corr
0.41	PRFIX	Parnassus Fixed Income	Pair Corr
0.4	PQTAX	Pimco Trends Managed	Pair Corr
0.4	PQTNX	Pimco Trends Managed	Pair Corr
0.39	PQTIX	Aa Pimco Tr	Pair Corr
0.38	GPMFX	Guidepath Managed Futures	Pair Corr
0.75	BA	Boeing Fiscal Year End 29th of January 2025	Pair Corr
0.6	JNJ	Johnson Johnson Sell-off Trend	Pair Corr
0.37	PG	Procter Gamble	Pair Corr

Related Correlations Analysis

	VVIAX	AFMFX	FFFMX	AMRMX	AMFFX	AMFCX	DODGX	VIVAX
VVIAX		0.9	0.97	0.9	0.97	0.96	0.89	0.94	VVIAX
AFMFX	0.9		0.93	1.0	0.93	0.93	0.86	0.96	AFMFX
FFFMX	0.97	0.93		0.93	1.0	1.0	0.81	0.9	FFFMX
AMRMX	0.9	1.0	0.93		0.93	0.92	0.86	0.96	AMRMX
AMFFX	0.97	0.93	1.0	0.93		1.0	0.81	0.9	AMFFX
AMFCX	0.96	0.93	1.0	0.92	1.0		0.8	0.89	AMFCX
DODGX	0.89	0.86	0.81	0.86	0.81	0.8		0.94	DODGX
VIVAX	0.94	0.96	0.9	0.96	0.9	0.89	0.94		VIVAX
	VVIAX	AFMFX	FFFMX	AMRMX	AMFFX	AMFCX	DODGX	VIVAX

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Risk-Adjusted Indicators

There is a big difference between Parnassus Mutual Fund performing well and Parnassus Endeavor 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 Parnassus Endeavor'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
VVIAX	0.49	0.08	(0.05)	(2.47)	0.40	(0.59)	1.05	(0.83)	3.45
AFMFX	0.46	(0.02)	(0.10)	0.07	0.43	(0.52)	0.91	(0.86)	2.68
FFFMX	0.44	0.04	(0.11)	(2.06)	0.44	(0.49)	0.91	(0.86)	2.68
AMRMX	0.45	(0.02)	(0.10)	0.07	0.43	(0.51)	0.91	(0.86)	2.66
AMFFX	0.45	0.04	(0.11)	(1.76)	0.45	(0.49)	0.91	(0.86)	2.68
AMFCX	0.45	0.04	(0.12)	(1.81)	0.46	(0.49)	0.89	(0.88)	2.68
DODGX	0.52	0.00	(0.03)	0.10	0.45	(0.61)	1.17	(0.94)	4.22
VIVAX	0.51	0.00	(0.03)	0.10	0.39	(0.61)	1.07	(0.83)	3.45

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