Smallcap Growth Correlations

PGRTX Fund

USD 15.42 0.12 0.78%

The current 90-days correlation between Smallcap Growth and Baron Real Estate is 0.42 (i.e., Very weak diversification). The correlation of Smallcap Growth 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.

Smallcap Growth Correlation With Market

Modest diversification

The correlation between Smallcap Growth Fund and DJI is 0.2 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Smallcap Growth 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 Smallcap Growth 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 estimate.

Moving together with Smallcap Mutual Fund

0.97	SABPX	Strategic Asset Mana	Pair Corr
0.97	SACAX	Strategic Asset Mana	Pair Corr
0.92	SAGPX	Strategic Asset Mana	Pair Corr
0.84	PFIJX	Strategic Asset Mana	Pair Corr
0.85	PFIFX	Strategic Asset Mana	Pair Corr
0.61	PFISX	International Small Pany	Pair Corr
0.85	PFIPX	Strategic Asset Mana	Pair Corr
0.96	SAIPX	Strategic Asset Mana	Pair Corr
0.97	PFLJX	Principal Lifetime 2050	Pair Corr
0.79	PFRSX	Real Estate Securities	Pair Corr
0.85	SAUPX	Strategic Asset Mana	Pair Corr
0.62	PGBLX	Global Diversified Income	Pair Corr
0.89	PGBEX	Blue Chip Fund	Pair Corr
0.89	PGBGX	Blue Chip Fund	Pair Corr
0.88	PGBHX	Blue Chip Fund	Pair Corr
0.62	PGDCX	Global Diversified Income	Pair Corr
0.73	PGDRX	Diversified Real Asset	Pair Corr
0.69	PGRUX	Global Real Estate	Pair Corr
0.73	PGSLX	Principal Global Sus	Pair Corr
0.7	PGRKX	Global Real Estate	Pair Corr
0.96	SCBPX	Strategic Asset Mana	Pair Corr
0.96	SCIPX	Strategic Asset Mana	Pair Corr
0.96	SCGPX	Strategic Asset Mana	Pair Corr
0.92	PHJEX	Principal Lifetime Hybrid	Pair Corr
0.86	PHJFX	Principal Lifetime Hybrid	Pair Corr
0.92	PHJGX	Principal Lifetime Hybrid	Pair Corr
0.92	PHJBX	Principal Lifetime Hybrid	Pair Corr
0.91	PHJDX	Principal Lifetime Hybrid	Pair Corr
0.91	PHJNX	Principal Lifetime Hybrid	Pair Corr
0.9	PHJQX	Principal Lifetime Hybrid	Pair Corr

Related Correlations Analysis

	BREUX	FORFX	ZRPTUX	CREMX	VGSIX	CREYX	PNDIX
BREUX		-0.46	0.71	-0.49	0.91	0.82	-0.5	BREUX
FORFX	-0.46		-0.66	0.99	-0.74	-0.76	0.99	FORFX
ZRPTUX	0.71	-0.66		-0.68	0.85	0.87	-0.69	ZRPTUX
CREMX	-0.49	0.99	-0.68		-0.76	-0.79	1.0	CREMX
VGSIX	0.91	-0.74	0.85	-0.76		0.94	-0.77	VGSIX
CREYX	0.82	-0.76	0.87	-0.79	0.94		-0.8	CREYX
PNDIX	-0.5	0.99	-0.69	1.0	-0.77	-0.8		PNDIX
	BREUX	FORFX	ZRPTUX	CREMX	VGSIX	CREYX	PNDIX

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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

PNDIX	+ 1.0	CREMX
CREMX	+ 0.99	FORFX
PNDIX	+ 0.99	FORFX
CREYX	+ 0.94	VGSIX
VGSIX	+ 0.91	BREUX
CREYX	+ 0.87	ZRPTUX

High negative correlations

PNDIX	- 0.8	CREYX
CREYX	- 0.79	CREMX
PNDIX	- 0.77	VGSIX
VGSIX	- 0.76	CREMX
CREYX	- 0.76	FORFX
VGSIX	- 0.74	FORFX

Risk-Adjusted Indicators

There is a big difference between Smallcap Mutual Fund performing well and Smallcap Growth 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 Smallcap Growth'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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
BREUX	0.90	(0.03)	(0.23)	1.64	(1.83)	7.09
FORFX	0.05	0.00	0.00	0.11	0.00	0.32
ZRPTUX	0.07	(0.02)	(0.84)	0.08	(0.45)	1.27
CREMX	0.02	0.02	(5.33)	0.08	0.00	0.08
VGSIX	0.88	(0.08)	(0.44)	1.39	(1.99)	5.53
CREYX	0.83	(0.09)	(0.24)	1.44	(2.04)	5.49
PNDIX	0.04	0.02	4.34	0.10	0.00	0.20

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