International Equity Correlations

PIDIX Fund

USD 11.82 0.16 1.37%

The current 90-days correlation between International Equity and Health Biotchnology Portfolio is 0.43 (i.e., Very weak diversification). The correlation of International 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.

International Equity Correlation With Market

Very weak diversification

The correlation between International Equity Index and DJI is 0.42 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding International Equity Index 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 International Equity Index. 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 gross domestic product.

Moving together with International Mutual Fund

1.0	PFIEX	International Equity	Pair Corr
0.97	PFISX	International Small Pany	Pair Corr
0.72	PGBAX	Global Diversified Income	Pair Corr
0.61	STCCX	Short Term Income	Pair Corr
0.77	PGRUX	Global Real Estate	Pair Corr
0.77	PGRKX	Global Real Estate	Pair Corr
1.0	PIIOX	International Equity	Pair Corr
0.75	PIOOX	Income Fund R	Pair Corr

Moving against International Mutual Fund

0.72	PIPPX	Midcap Growth	Pair Corr
0.71	PGWIX	Midcap Growth	Pair Corr
0.71	PHPPX	Midcap Growth	Pair Corr
0.69	PHASX	Midcap Growth	Pair Corr
0.66	PGBFX	Blue Chip Fund	Pair Corr
0.63	PGBHX	Blue Chip Fund	Pair Corr
0.55	PGRTX	Smallcap Growth	Pair Corr
0.43	SACAX	Strategic Asset Mana	Pair Corr
0.33	SABPX	Strategic Asset Mana	Pair Corr
0.32	PGLSX	Global Multi Strategy	Pair Corr
0.69	PPQSX	Midcap Growth	Pair Corr
0.67	PMBSX	Midcap Fund R	Pair Corr
0.63	PMDIX	Small Midcap Dividend	Pair Corr
0.62	PMAQX	Midcap Fund R	Pair Corr
0.62	PMBPX	Midcap Fund R	Pair Corr
0.62	PMDDX	Small Midcap Dividend	Pair Corr
0.61	PMBCX	Midcap Fund Class	Pair Corr
0.61	PNASX	Smallcap Growth	Pair Corr
0.6	PLVJX	Largecap Value	Pair Corr
0.59	CMNWX	Principal Capital	Pair Corr
0.56	PLSAX	Largecap Sp 500	Pair Corr
0.56	PQIAX	Equity Income	Pair Corr
0.54	PPNMX	Smallcap Growth	Pair Corr
0.52	PLLAX	Smallcap Fund Fka	Pair Corr

Related Correlations Analysis

	SHPCX	FHCCX	ETCHX	SCHLX	BHSRX	PHLAX	SBHIX	ETAHX
SHPCX		0.79	0.57	0.82	0.84	0.89	1.0	0.56	SHPCX
FHCCX	0.79		0.75	0.84	0.89	0.85	0.79	0.74	FHCCX
ETCHX	0.57	0.75		0.6	0.65	0.73	0.58	1.0	ETCHX
SCHLX	0.82	0.84	0.6		0.99	0.96	0.81	0.59	SCHLX
BHSRX	0.84	0.89	0.65	0.99		0.97	0.84	0.64	BHSRX
PHLAX	0.89	0.85	0.73	0.96	0.97		0.88	0.72	PHLAX
SBHIX	1.0	0.79	0.58	0.81	0.84	0.88		0.56	SBHIX
ETAHX	0.56	0.74	1.0	0.59	0.64	0.72	0.56		ETAHX
	SHPCX	FHCCX	ETCHX	SCHLX	BHSRX	PHLAX	SBHIX	ETAHX

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Risk-Adjusted Indicators

There is a big difference between International Mutual Fund performing well and International 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 International 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
SHPCX	0.62	(0.16)	0.00	(0.15)	0.00	0.00	0.96	(1.23)	4.21
FHCCX	0.70	(0.10)	(0.14)	(0.01)	0.94	(0.66)	1.05	(1.31)	4.04
ETCHX	1.02	(0.15)	0.00	(0.01)	0.00	0.00	2.25	(2.30)	7.56
SCHLX	0.55	(0.15)	0.00	(0.16)	0.00	0.00	0.89	(1.30)	3.08
BHSRX	0.59	(0.14)	0.00	(0.11)	0.00	0.00	0.91	(1.31)	3.39
PHLAX	0.66	(0.15)	0.00	(0.12)	0.00	0.00	1.04	(1.38)	5.07
SBHIX	0.62	(0.15)	0.00	(0.14)	0.00	0.00	1.00	(1.27)	4.23
ETAHX	1.02	(0.15)	0.00	(0.01)	0.00	0.00	2.27	(2.32)	7.54

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