Plumb Balanced Correlations

Mutual Funds . USA . 
Fund . Plumb Balanced
PLIBX Fund  USD 38.07  0.40  1.06%   
The current 90-days correlation between Plumb Balanced and Fidelity Managed Retirement is -0.05 (i.e., Good diversification). The correlation of Plumb Balanced 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 Balanced Correlation With Market

Very poor diversification

The correlation between Plumb Balanced and DJI is 0.84 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Plumb Balanced 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 Balanced. 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 bureau of labor statistics.

Moving together with Plumb Mutual Fund

  0.73PLBBX Plumb BalancedPairCorr
  0.81BALCX American BalancedPairCorr
  0.81BALFX American BalancedPairCorr
  0.82ABALX American BalancedPairCorr
  0.98FBONX American Funds AmericanPairCorr
  0.98FBAFX American Funds AmericanPairCorr
  0.81RLBCX American BalancedPairCorr
  0.8RLBBX American BalancedPairCorr
  0.81CLBAX American BalancedPairCorr
  0.81CLBEX American BalancedPairCorr
  0.81RLBFX American BalancedPairCorr
  0.7PFN Pimco Income Strategy Potential GrowthPairCorr
  0.78FSEAX Fidelity Emerging AsiaPairCorr
  0.83JVACX Jpmorgan Value AdvantagePairCorr
  0.73AGCAX Arbitrage CreditPairCorr
  0.83AMDWX Amana Developing WorldPairCorr
  0.83CGIFX International Growth AndPairCorr
  0.87CVSCX Calamos Market NeutralPairCorr
  0.86CEUFX Europacific GrowthPairCorr
  0.83VCIEX International EquitiesPairCorr
  0.73ROBCX Robinson Tax AdvantagedPairCorr
  0.91ARDMX One Choice 2040PairCorr
  0.89JDIUX John Hancock DisciplinedPairCorr
  0.85FESOX First Eagle OverseasPairCorr
  0.75WTCOX Westcore Orado TaxPairCorr
  0.72PSGRX Putnam Small CapPairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

There is a big difference between Plumb Mutual Fund performing well and Plumb Balanced 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 Balanced'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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