Pioneer Equity Correlations

PEQKX Fund

USD 24.62 0.13 0.53%

The current 90-days correlation between Pioneer Equity Income and Pioneer Fundamental Growth is 0.62 (i.e., Poor diversification). The correlation of Pioneer Equity 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 Equity Correlation With Market

Very poor diversification

The correlation between Pioneer Equity Income 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 Pioneer Equity Income 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 Equity Income. 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

0.72	CERPX	Pioneer Core Equity	Pair Corr
0.83	PMCKX	Pioneer Mid Cap	Pair Corr
0.79	MUARX	Pioneer Flexible Opp	Pair Corr
0.79	FLEKX	Pioneer Flexible Opp	Pair Corr
0.71	PCBKX	Pioneer Classic Balanced	Pair Corr
0.74	PCEKX	Pioneer Core Equity	Pair Corr
0.78	PCMRX	Pioneer Mid Cap	Pair Corr
0.91	VVIAX	Vanguard Value Index	Pair Corr
0.9	DOXGX	Dodge Cox Stock	Pair Corr
0.88	AFMFX	American Mutual	Pair Corr
0.96	FFMMX	American Funds American	Pair Corr
0.96	FFFMX	American Funds American	Pair Corr
0.96	AMRMX	American Mutual	Pair Corr
0.88	AMFFX	American Mutual	Pair Corr
0.88	AMFCX	American Mutual	Pair Corr
0.9	DODGX	Dodge Stock Fund	Pair Corr
0.98	VIVAX	Vanguard Value Index	Pair Corr

Related Correlations Analysis

	PFGKX	PGEKX	BALRX	CERPX	STIIX	STIKX	STRKX	GOF	PIOKX	PMCKX
PFGKX		-0.15	-0.38	0.91	-0.61	-0.63	-0.56	-0.5	0.92	0.88	PFGKX
PGEKX	-0.15		0.93	0.01	0.76	0.74	0.78	0.82	-0.29	0.13	PGEKX
BALRX	-0.38	0.93		-0.15	0.86	0.85	0.88	0.88	-0.46	-0.11	BALRX
CERPX	0.91	0.01	-0.15		-0.42	-0.44	-0.37	-0.35	0.89	0.87	CERPX
STIIX	-0.61	0.76	0.86	-0.42		0.97	0.95	0.9	-0.73	-0.41	STIIX
STIKX	-0.63	0.74	0.85	-0.44	0.97		0.97	0.89	-0.76	-0.42	STIKX
STRKX	-0.56	0.78	0.88	-0.37	0.95	0.97		0.89	-0.69	-0.34	STRKX
GOF	-0.5	0.82	0.88	-0.35	0.9	0.89	0.89		-0.63	-0.3	GOF
PIOKX	0.92	-0.29	-0.46	0.89	-0.73	-0.76	-0.69	-0.63		0.81	PIOKX
PMCKX	0.88	0.13	-0.11	0.87	-0.41	-0.42	-0.34	-0.3	0.81		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

STIKX	+ 0.97	STIIX
STRKX	+ 0.97	STIKX
STRKX	+ 0.95	STIIX
BALRX	+ 0.93	PGEKX
PIOKX	+ 0.92	PFGKX
CERPX	+ 0.91	PFGKX

High negative correlations

PIOKX	- 0.76	STIKX
PIOKX	- 0.73	STIIX
PIOKX	- 0.69	STRKX
PIOKX	- 0.63	GOF
STIKX	- 0.63	PFGKX
STIIX	- 0.61	PFGKX

Risk-Adjusted Indicators

There is a big difference between Pioneer Mutual Fund performing well and Pioneer Equity 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 Equity'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	0.85	(0.06)	0.00	(0.10)	0.00	0.00	1.57	(2.05)	4.66
PGEKX	0.63	0.10	0.14	0.10	0.71	(0.73)	1.38	(1.06)	4.51
BALRX	0.35	0.05	0.20	(0.61)	0.37	(0.36)	0.88	(0.68)	2.23
CERPX	0.74	(0.09)	0.00	0.64	0.00	0.00	1.24	(1.62)	4.23
STIIX	0.09	0.02	0.44	(0.74)	0.00	(0.17)	0.23	(0.11)	0.68
STIKX	0.09	0.02	0.54	2.57	0.00	(0.19)	0.23	(0.11)	0.67
STRKX	0.25	0.05	0.34	1.52	0.00	(0.32)	0.53	(0.42)	1.40
GOF	0.45	0.09	0.18	0.31	0.48	(0.47)	1.03	(1.01)	2.89
PIOKX	0.90	(0.15)	0.00	1.01	0.00	0.00	1.62	(2.16)	4.91
PMCKX	0.70	0.02	0.00	(0.02)	0.00	0.00	1.21	(1.45)	3.53

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