Pia High Correlations

PIAMX Fund

USD 8.24 0.01 0.12%

The current 90-days correlation between Pia High Yield and Smallcap Fund Fka is -0.11 (i.e., Good diversification). The correlation of Pia High 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.

Pia High Correlation With Market

Very poor diversification

The correlation between Pia High Yield and DJI is 0.85 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Pia High Yield 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 Pia High Yield. 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 board of governors.

Moving together with Pia Mutual Fund

0.98	PHYSX	Pia High Yield	Pair Corr
0.71	PIASX	Pia Short Term	Pair Corr
0.75	PMTGX	Pia Mbs Bond	Pair Corr
0.65	PBBBX	Pia Bbb Bond	Pair Corr
0.68	MISHX	Ab Municipal Income	Pair Corr
0.68	LMSMX	Western Asset Smash	Pair Corr
0.8	LMECX	Western Asset Smash	Pair Corr
0.86	FXICX	Fixed Income Shares	Pair Corr
0.71	NMTRX	Municipal Total Return	Pair Corr
0.62	LMLCX	Western Asset Smash	Pair Corr
0.69	SHRMX	Stone Ridge High	Pair Corr
0.7	BATAX	Blackrock Allocation	Pair Corr
0.8	BRAMX	Bats Series M	Pair Corr
0.92	FTYPX	Fidelity Freedom Index	Pair Corr
0.94	FFBTX	Fidelity Freedom Blend	Pair Corr
0.71	GAAVX	Gmo Alternative Allo	Pair Corr
0.83	GCAVX	Gmo Small Cap	Pair Corr
0.82	GQLOX	Gmo Quality Fund	Pair Corr
0.88	GHVIX	Gmo High Yield	Pair Corr
0.76	GMCQX	Gmo Equity Allocation	Pair Corr
0.88	STMPX	Simt Tax Managed	Pair Corr
0.78	CFVLX	Value Fund	Pair Corr
0.92	EVVLX	Evaluator Very Conse	Pair Corr
0.71	AYMYX	High Yield Municipal	Pair Corr
0.81	TIBGX	Thornburg Investment	Pair Corr
0.82	DNVYX	Davis New York	Pair Corr
0.77	KCLSX	Knights Of Umbus	Pair Corr
0.83	TWQCX	Transamerica Large Cap	Pair Corr
0.82	TEBIX	Franklin Mutual Beacon	Pair Corr
0.76	DRTHX	The Dreyfus Sustainable	Pair Corr
0.78	FLRYX	Nuveen Large Cap	Pair Corr
0.87	MMSIX	Praxis Small Cap	Pair Corr
0.77	VINIX	Vanguard Institutional	Pair Corr
0.63	HFLYX	Hartford Floating	Pair Corr
0.78	MSDVX	Blackrock Equity Dividend	Pair Corr
0.82	NBGEX	Neuberger Berman Genesis	Pair Corr
0.67	CFSTX	Short Term	Pair Corr

Moving against Pia Mutual Fund

0.44

GABFX

Gmo Asset Allocation

Pair Corr

Related Correlations Analysis

	MMSCX	GMSMX	LMBMX	DFUKX	TISVX	FCSGX	PSBMX
MMSCX		0.95	0.98	0.94	0.91	0.94	0.93	MMSCX
GMSMX	0.95		0.96	0.94	0.93	0.97	0.96	GMSMX
LMBMX	0.98	0.96		0.94	0.9	0.94	0.97	LMBMX
DFUKX	0.94	0.94	0.94		0.97	0.88	0.91	DFUKX
TISVX	0.91	0.93	0.9	0.97		0.88	0.89	TISVX
FCSGX	0.94	0.97	0.94	0.88	0.88		0.96	FCSGX
PSBMX	0.93	0.96	0.97	0.91	0.89	0.96		PSBMX
	MMSCX	GMSMX	LMBMX	DFUKX	TISVX	FCSGX	PSBMX

Risk-Adjusted Indicators

There is a big difference between Pia Mutual Fund performing well and Pia High 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 Pia High'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
MMSCX	0.96	0.23	0.15	4.26	0.73	(1.16)	1.92	(1.61)	10.44
GMSMX	0.84	0.12	0.12	0.18	0.71	(0.94)	2.04	(1.47)	7.80
LMBMX	0.90	0.15	0.14	0.23	0.82	(0.99)	2.18	(1.80)	7.43
DFUKX	0.62	0.08	0.07	0.19	0.59	(0.67)	1.37	(1.01)	3.27
TISVX	0.59	0.10	0.10	0.26	0.51	(0.70)	1.43	(1.09)	3.41
FCSGX	1.08	0.30	0.28	0.33	0.63	(1.27)	2.03	(1.67)	19.18
PSBMX	0.85	0.16	0.14	0.23	0.75	(0.98)	1.79	(1.77)	7.83

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