Pioneer Classic Correlations

PCBKX Fund

USD 11.32 0.04 0.35%

The current 90-days correlation between Pioneer Classic Balanced and Pioneer Fundamental Growth is 0.89 (i.e., Very poor diversification). The correlation of Pioneer Classic 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.

Pioneer Classic Correlation With Market

Very poor diversification

The correlation between Pioneer Classic Balanced and DJI is 0.82 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Pioneer Classic Balanced 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 Pioneer Classic Balanced. 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 industry.

Moving together with Pioneer Mutual Fund

0.93	PFGKX	Pioneer Fundamental	Pair Corr
0.7	PGEKX	Pioneer Global Equity	Pair Corr
0.92	CERPX	Pioneer Core Equity	Pair Corr
0.72	GOF	Guggenheim Strategic	Pair Corr
0.89	PIOKX	Pioneer Fund Class	Pair Corr
0.83	PMCKX	Pioneer Mid Cap	Pair Corr
0.89	MUARX	Pioneer Flexible Opp	Pair Corr
0.68	PRGEX	Pioneer Global Equity	Pair Corr
0.89	FLEKX	Pioneer Flexible Opp	Pair Corr
0.83	PSMKX	Pioneer Select Mid	Pair Corr
0.92	PCEKX	Pioneer Core Equity	Pair Corr
0.84	PCMRX	Pioneer Mid Cap	Pair Corr
0.76	PEQKX	Pioneer Equity Income	Pair Corr
0.96	FBONX	American Funds American	Pair Corr
0.96	FBAFX	American Funds American	Pair Corr
0.96	ABALX	American Balanced	Pair Corr
0.96	BALCX	American Balanced	Pair Corr
0.96	BALFX	American Balanced	Pair Corr
0.96	RLBCX	American Balanced	Pair Corr
0.96	RLBBX	American Balanced	Pair Corr
0.96	CLBAX	American Balanced	Pair Corr
0.96	CLBEX	American Balanced	Pair Corr
0.96	RLBFX	American Balanced	Pair Corr

Moving against Pioneer Mutual Fund

0.36	PBFKX	Pioneer Bond	Pair Corr
0.43	FMFFX	Fs Managed Futures	Pair Corr

Related Correlations Analysis

	PFGKX	PGEKX	BALRX	CERPX	STIIX	STIKX	STRKX	GOF	PIOKX	PMCKX
PFGKX		0.53	0.32	0.95	-0.08	0.04	-0.53	0.78	0.94	0.91	PFGKX
PGEKX	0.53		0.94	0.58	-0.09	-0.01	-0.04	0.38	0.63	0.41	PGEKX
BALRX	0.32	0.94		0.36	0.1	0.12	0.26	0.16	0.39	0.19	BALRX
CERPX	0.95	0.58	0.36		-0.07	0.09	-0.58	0.89	0.96	0.96	CERPX
STIIX	-0.08	-0.09	0.1	-0.07		0.94	0.68	0.1	-0.27	-0.13	STIIX
STIKX	0.04	-0.01	0.12	0.09	0.94		0.56	0.29	-0.12	0.02	STIKX
STRKX	-0.53	-0.04	0.26	-0.58	0.68	0.56		-0.51	-0.66	-0.65	STRKX
GOF	0.78	0.38	0.16	0.89	0.1	0.29	-0.51		0.77	0.84	GOF
PIOKX	0.94	0.63	0.39	0.96	-0.27	-0.12	-0.66	0.77		0.91	PIOKX
PMCKX	0.91	0.41	0.19	0.96	-0.13	0.02	-0.65	0.84	0.91		PMCKX
	PFGKX	PGEKX	BALRX	CERPX	STIIX	STIKX	STRKX	GOF	PIOKX	PMCKX

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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

PIOKX	+ 0.96	CERPX
PMCKX	+ 0.96	CERPX
CERPX	+ 0.95	PFGKX
PIOKX	+ 0.94	PFGKX
BALRX	+ 0.94	PGEKX
STIKX	+ 0.94	STIIX

High negative correlations

PIOKX	- 0.66	STRKX
PMCKX	- 0.65	STRKX
STRKX	- 0.58	CERPX
STRKX	- 0.53	PFGKX
GOF	- 0.51	STRKX
PIOKX	- 0.27	STIIX

Risk-Adjusted Indicators

There is a big difference between Pioneer Mutual Fund performing well and Pioneer Classic 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 Pioneer Classic'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
PFGKX	0.59	(0.04)	(0.07)	0.07	0.75	(0.62)	1.18	(1.48)	3.91
PGEKX	0.59	(0.09)	(0.16)	0.00	0.73	(0.68)	1.20	(1.31)	3.34
BALRX	0.31	(0.05)	(0.31)	(0.02)	0.36	(0.38)	0.68	(0.67)	1.92
CERPX	0.55	(0.01)	(0.04)	0.11	0.54	(0.61)	0.95	(1.07)	3.55
STIIX	0.08	0.00	(0.89)	0.08	0.00	(0.16)	0.22	(0.11)	0.79
STIKX	0.09	0.01	(0.88)	(0.01)	0.00	(0.17)	0.22	(0.11)	0.90
STRKX	0.21	(0.01)	0.00	0.23	0.00	0.00	0.42	(0.52)	1.56
GOF	0.39	0.07	(0.06)	0.62	0.40	(0.40)	0.98	(0.88)	1.94
PIOKX	0.69	(0.06)	(0.06)	0.07	0.80	(0.80)	1.52	(1.39)	4.74
PMCKX	0.63	0.02	0.03	0.15	0.47	(0.72)	1.24	(0.91)	4.36

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