Plumb Equity Correlations

PLAEX Fund

USD 31.75 0.26 0.81%

The correlation of Plumb 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.

Plumb Equity Correlation With Market

Significant diversification

The correlation between Plumb Equity and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Plumb Equity 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 Plumb Equity. 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 income.

Moving together with Plumb Mutual Fund

0.77	FAFGX	American Funds	Pair Corr
0.77	FFAFX	American Funds	Pair Corr
0.77	GFACX	Growth Fund	Pair Corr
0.77	GFAFX	Growth Fund	Pair Corr
0.77	AGTHX	Growth Fund	Pair Corr
0.77	CGFFX	Growth Fund	Pair Corr
0.77	CGFCX	Growth Fund	Pair Corr
0.77	CGFAX	Growth Fund	Pair Corr
0.77	CGFEX	Growth Fund	Pair Corr
0.77	RGAEX	Growth Fund	Pair Corr
0.74	SPMPX	Invesco Steelpath Mlp	Pair Corr
0.74	MLPNX	Oppenheimer Steelpath Mlp	Pair Corr
0.74	MLPMX	Oppenheimer Steelpath Mlp	Pair Corr
0.74	SPMJX	Invesco Steelpath Mlp	Pair Corr
0.66	HPQ	HP Inc	Pair Corr
0.68	DIS	Walt Disney Aggressive Push	Pair Corr
0.77	BAC	Bank of America Aggressive Push	Pair Corr
0.66	WMT	Walmart Aggressive Push	Pair Corr
0.78	CVX	Chevron Corp Sell-off Trend	Pair Corr

Moving against Plumb Mutual Fund

0.55	BTMPX	Ishares Msci Eafe	Pair Corr
0.55	BTMKX	Blackrock International	Pair Corr
0.55	MDIIX	Blackrock Intern Index	Pair Corr
0.7	KO	Coca Cola Sell-off Trend	Pair Corr
0.7	JNJ	Johnson Johnson Fiscal Year End 28th of January 2025	Pair Corr
0.68	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.64	PFE	Pfizer Inc Aggressive Push	Pair Corr
0.36	BA	Boeing Fiscal Year End 29th of January 2025	Pair Corr

Related Correlations Analysis

	PLABX	PLAEX	PLIBX	PLIEX	NWWAX	SMGASX	PWJQX	FGWMX	PNPXX
PLABX		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	PLABX
PLAEX	0.0		0.0	1.0	0.0	0.0	-0.26	-0.26	0.16	PLAEX
PLIBX	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	PLIBX
PLIEX	0.0	1.0	0.0		0.0	0.0	-0.26	-0.26	0.16	PLIEX
NWWAX	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	NWWAX
SMGASX	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	SMGASX
PWJQX	0.0	-0.26	0.0	-0.26	0.0	0.0		0.39	-0.07	PWJQX
FGWMX	0.0	-0.26	0.0	-0.26	0.0	0.0	0.39		0.0	FGWMX
PNPXX	0.0	0.16	0.0	0.16	0.0	0.0	-0.07	0.0		PNPXX
	PLABX	PLAEX	PLIBX	PLIEX	NWWAX	SMGASX	PWJQX	FGWMX	PNPXX

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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

PLIEX	+ 1.0	PLAEX
FGWMX	+ 0.39	PWJQX
PNPXX	+ 0.16	PLAEX
PNPXX	+ 0.16	PLIEX
PLAEX	+ 0.0	PLABX
PLIBX	+ 0.0	PLABX

High negative correlations

FGWMX	- 0.26	PLIEX
PWJQX	- 0.26	PLIEX
FGWMX	- 0.26	PLAEX
PWJQX	- 0.26	PLAEX
PNPXX	- 0.07	PWJQX
PNPXX	- 0.0	FGWMX

Risk-Adjusted Indicators

There is a big difference between Plumb Mutual Fund performing well and Plumb 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 Plumb 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
PLABX	0.46	0.08	(0.05)	1.12	0.43	(0.51)	0.97	(0.90)	3.21
PLAEX	0.69	0.11	0.00	1.41	0.80	(0.74)	1.52	(1.49)	4.66
PLIBX	0.45	0.08	(0.06)	2.09	0.42	(0.50)	0.97	(0.90)	3.23
PLIEX	0.69	0.11	0.00	1.47	0.79	(0.75)	1.54	(1.48)	4.65
NWWAX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
SMGASX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
PWJQX	0.77	(0.16)	0.00	(0.10)	0.00	0.00	1.59	(1.71)	5.55
FGWMX	0.22	0.00	(0.35)	0.26	0.24	(0.24)	0.47	(0.39)	1.65
PNPXX	22.41	9.79	0.21	(1.77)	13.77	(30.66)	0.65	(0.21)	457.17

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