Plumb Equity Correlations

Mutual Funds . USA . 
Fund . Plumb Equity Fund
PLBEX Fund  USD 30.61  0.18  0.59%   
The current 90-days correlation between Plumb Equity and Plumb Balanced Fund is 0.66 (i.e., Poor diversification). 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

Modest diversification

The correlation between Plumb Equity Fund and DJI is 0.29 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Plumb Equity 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 Plumb Equity 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 income.

Moving together with Plumb Mutual Fund

  0.74PLBBX Plumb BalancedPairCorr
  0.74PLABX Plumb BalancedPairCorr
  1.0PLAEX Plumb EquityPairCorr
  0.75PLIBX Plumb BalancedPairCorr
  1.0PLIEX Plumb EquityPairCorr
  0.9FAFGX American FundsPairCorr
  0.9FFAFX American FundsPairCorr
  0.88GFACX Growth FundPairCorr
  0.8GFAFX Growth FundPairCorr
  0.9CGFFX Growth FundPairCorr
  0.88CGFCX Growth FundPairCorr
  0.9CGFAX Growth FundPairCorr
  0.89CGFEX Growth FundPairCorr
  0.9RGAEX Growth FundPairCorr
  0.69VTSAX Vanguard Total StockPairCorr
  0.64VFIAX Vanguard 500 IndexPairCorr
  0.69VTSMX Vanguard Total StockPairCorr
  0.69VSMPX Vanguard Total StockPairCorr
  0.69VSTSX Vanguard Total StockPairCorr
  0.79VITSX Vanguard Total StockPairCorr
  0.64VFINX Vanguard 500 IndexPairCorr
  0.75VFFSX Vanguard 500 IndexPairCorr
  0.63ANZCX Allianzgi VertiblePairCorr
  0.7LSHEX Kinetics Spin Off Steady GrowthPairCorr

Moving against Plumb Mutual Fund

  0.41CBHIX Victory Cemp MarketPairCorr

Related Correlations Analysis

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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   
POLRX
+ 0.86
HNASX
HNASX
+ 0.78
EGFFX
POLRX
+ 0.74
EGFFX
HNASX
+ 0.72
PLBBX
EGFFX
+ 0.69
PLBBX
POLRX
+ 0.66
PLBBX
  
High negative correlations   
BFTHX
- 0.09
EGFFX

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.

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