Edge Midcap Correlations

PEDMX Fund

USD 14.25 0.03 0.21%

The current 90-days correlation between Edge Midcap Fund and Barings Emerging Markets is 0.41 (i.e., Very weak diversification). The correlation of Edge Midcap 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.

Edge Midcap Correlation With Market

Very poor diversification

The correlation between Edge Midcap Fund and DJI is 0.87 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Edge Midcap 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 Edge Midcap 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 population.

Moving together with Edge Mutual Fund

0.95	SABPX	Strategic Asset Mana	Pair Corr
0.96	SACAX	Strategic Asset Mana	Pair Corr
0.96	SAGPX	Strategic Asset Mana	Pair Corr
0.94	PFPPX	Midcap Growth	Pair Corr
0.94	PGBEX	Blue Chip Fund	Pair Corr
0.85	PGBFX	Blue Chip Fund	Pair Corr
0.94	PGBHX	Blue Chip Fund	Pair Corr
0.92	PGLSX	Global Multi Strategy	Pair Corr
0.97	PGRTX	Smallcap Growth	Pair Corr
0.89	PHASX	Midcap Growth	Pair Corr
0.75	SCIPX	Strategic Asset Mana	Pair Corr
0.88	PHJEX	Principal Lifetime Hybrid	Pair Corr
0.9	PHJGX	Principal Lifetime Hybrid	Pair Corr
0.73	PHJQX	Principal Lifetime Hybrid	Pair Corr
0.84	PHJJX	Principal Lifetime Hybrid	Pair Corr
0.9	PHJUX	Principal Lifetime Hybrid	Pair Corr
0.79	PZASX	Principal Lifetime 2050	Pair Corr
0.94	PHPPX	Midcap Growth	Pair Corr
0.74	PHSPX	Pimco High Yield	Pair Corr
0.84	PHTJX	Principal Lifetime Hybrid	Pair Corr
0.66	PHYTX	High Yield Fund	Pair Corr

Moving against Edge Mutual Fund

0.47	PGRVX	Global Real Estate	Pair Corr
0.44	PFISX	International Small Pany	Pair Corr
0.42	PGRKX	Global Real Estate	Pair Corr
0.41	PGRUX	Global Real Estate	Pair Corr
0.32	STCCX	Short Term Income	Pair Corr
0.55	PICNX	Income Fund R	Pair Corr
0.54	PIIPX	International Equity	Pair Corr
0.54	PILIX	International Equity	Pair Corr
0.51	PINUX	Overseas Fund R	Pair Corr
0.5	PIDIX	International Equity	Pair Corr
0.48	PIFPX	Inflation Protection	Pair Corr
0.48	PINZX	Overseas Fund Instit	Pair Corr
0.45	PIPIX	Inflation Protection	Pair Corr
0.35	PIIIX	Diversified International	Pair Corr
0.35	PINPX	Diversified International	Pair Corr

Related Correlations Analysis

	BXECX	CMERX	SMQFX	GAGPX	EGLNX	EPASX	APDOX
BXECX		0.54	0.7	0.68	-0.18	0.72	0.34	BXECX
CMERX	0.54		0.3	0.43	-0.7	0.31	-0.32	CMERX
SMQFX	0.7	0.3		0.95	0.07	0.94	0.61	SMQFX
GAGPX	0.68	0.43	0.95		-0.18	0.97	0.36	GAGPX
EGLNX	-0.18	-0.7	0.07	-0.18		-0.14	0.74	EGLNX
EPASX	0.72	0.31	0.94	0.97	-0.14		0.41	EPASX
APDOX	0.34	-0.32	0.61	0.36	0.74	0.41		APDOX
	BXECX	CMERX	SMQFX	GAGPX	EGLNX	EPASX	APDOX

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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

EPASX	+ 0.97	GAGPX
GAGPX	+ 0.95	SMQFX
EPASX	+ 0.94	SMQFX
APDOX	+ 0.74	EGLNX
EPASX	+ 0.72	BXECX
SMQFX	+ 0.7	BXECX

High negative correlations

EGLNX	- 0.7	CMERX
APDOX	- 0.32	CMERX
EGLNX	- 0.18	GAGPX
EGLNX	- 0.18	BXECX
EPASX	- 0.14	EGLNX

Risk-Adjusted Indicators

There is a big difference between Edge Mutual Fund performing well and Edge Midcap 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 Edge Midcap'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
BXECX	0.26	(0.02)	(0.36)	(0.03)	0.26	(0.38)	0.65	(0.40)	1.45
CMERX	0.63	(0.15)	0.00	(0.15)	0.00	0.00	1.23	(1.33)	3.07
SMQFX	0.58	(0.04)	(0.13)	0.01	0.75	(0.60)	1.27	(1.33)	3.52
GAGPX	0.71	(0.08)	0.00	(0.10)	0.00	0.00	1.43	(1.84)	5.18
EGLNX	0.69	0.22	0.18	0.64	0.46	(0.84)	1.73	(1.06)	4.48
EPASX	0.74	(0.02)	(0.11)	(0.04)	0.99	(0.79)	1.52	(1.67)	6.54
APDOX	0.15	0.01	(0.40)	0.23	0.07	(0.21)	0.39	(0.20)	0.78

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