T Rowe Correlations

PATFX Fund

USD 11.26 0.01 0.09%

The current 90-days correlation between T Rowe Price and Fidelity Advisor Health is 0.14 (i.e., Average diversification). The correlation of T Rowe 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.

T Rowe Correlation With Market

Poor diversification

The correlation between T Rowe Price 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 T Rowe Price 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 T Rowe Price. 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 census.

Moving together with PATFX Mutual Fund

0.78	TEIMX	T Rowe Price	Pair Corr
0.97	TFBIX	Maryland Tax Free	Pair Corr
0.77	RRTDX	T Rowe Price	Pair Corr
0.75	RRTCX	T Rowe Price	Pair Corr
0.76	RRTLX	T Rowe Price	Pair Corr
0.87	PACEX	T Rowe Price	Pair Corr
0.79	PAELX	T Rowe Price	Pair Corr
0.76	TRBSX	T Rowe Price	Pair Corr
0.75	TREHX	T Rowe Price	Pair Corr
0.77	PASUX	T Rowe Price	Pair Corr
0.75	PARCX	T Rowe Price	Pair Corr
0.76	TRRAX	T Rowe Price	Pair Corr
0.75	TRRBX	Trowe Price Retirement	Pair Corr
0.82	TRRIX	T Rowe Price	Pair Corr
0.75	TRRGX	T Rowe Price	Pair Corr
0.75	TRRHX	T Rowe Price	Pair Corr
0.71	TADGX	T Rowe Price	Pair Corr
0.79	TRZOX	T Rowe Price	Pair Corr
0.77	TBLDX	T Rowe Price	Pair Corr
0.77	TBLCX	T Rowe Price	Pair Corr
0.76	TBLLX	T Rowe Price	Pair Corr
0.76	TBLKX	T Rowe Price	Pair Corr
0.84	NHMRX	Nuveen High Yield	Pair Corr
0.84	NHMFX	Nuveen High Yield	Pair Corr
0.97	ABHFX	American High Income	Pair Corr
0.97	AHICX	American High Income	Pair Corr
0.97	AMHIX	American High Income	Pair Corr
0.91	GHYCX	Goldman Sachs High	Pair Corr
0.96	GHYAX	Goldman Sachs High	Pair Corr
0.86	NHMAX	Nuveen High Yield	Pair Corr
0.75	NHCCX	Nuveen High Yield	Pair Corr

Moving against PATFX Mutual Fund

0.5	TRSAX	T Rowe Price	Pair Corr
0.59	INPIX	Internet Ultrasector	Pair Corr

Related Correlations Analysis

	FUMBX	FNSOX	FIBUX	VMATX	MACFX	FKKSX	CCFAX	FHCIX
FUMBX		0.98	0.81	0.69	0.65	0.69	0.76	0.5	FUMBX
FNSOX	0.98		0.78	0.75	0.68	0.72	0.8	0.49	FNSOX
FIBUX	0.81	0.78		0.59	0.55	0.39	0.67	0.53	FIBUX
VMATX	0.69	0.75	0.59		0.64	0.46	0.79	0.19	VMATX
MACFX	0.65	0.68	0.55	0.64		0.72	0.86	0.44	MACFX
FKKSX	0.69	0.72	0.39	0.46	0.72		0.77	0.43	FKKSX
CCFAX	0.76	0.8	0.67	0.79	0.86	0.77		0.47	CCFAX
FHCIX	0.5	0.49	0.53	0.19	0.44	0.43	0.47		FHCIX
	FUMBX	FNSOX	FIBUX	VMATX	MACFX	FKKSX	CCFAX	FHCIX

Risk-Adjusted Indicators

There is a big difference between PATFX Mutual Fund performing well and T Rowe 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 T Rowe'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
FUMBX	0.06	0.00	(0.70)	(0.14)	0.00	(0.13)	0.19	(0.10)	0.29
FNSOX	0.06	0.00	(0.74)	2.22	0.00	(0.12)	0.20	(0.10)	0.30
FIBUX	0.14	0.00	(0.40)	(0.05)	0.13	(0.18)	0.33	(0.32)	0.76
VMATX	0.08	0.01	(0.30)	0.98	0.00	(0.16)	0.30	(0.10)	0.79
MACFX	0.37	0.00	(0.05)	0.09	0.80	(0.42)	0.54	(0.54)	9.34
FKKSX	1.36	0.33	0.22	0.61	0.90	(1.59)	1.85	(1.87)	28.42
CCFAX	0.38	0.00	(0.06)	0.09	0.43	(0.41)	0.82	(0.75)	2.12
FHCIX	0.77	0.02	(0.03)	0.11	0.82	(0.94)	1.72	(1.58)	5.13

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