Smallcap Fund Correlations

Mutual Funds . USA . 
Fund . Smallcap Fund Fka
PLLAX Fund  USD 29.88  0.11  0.37%   
The current 90-days correlation between Smallcap Fund Fka and Principal Lifetime 2050 is -0.02 (i.e., Good diversification). The correlation of Smallcap Fund 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.

Smallcap Fund Correlation With Market

Almost no diversification

The correlation between Smallcap Fund Fka and DJI is 0.91 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Smallcap Fund Fka 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 Smallcap Fund Fka. 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 nation.

Moving together with Smallcap Mutual Fund

  0.95SABPX Strategic Asset ManaPairCorr
  0.95SACAX Strategic Asset ManaPairCorr
  0.95SAGPX Strategic Asset ManaPairCorr
  0.97PFIJX Strategic Asset ManaPairCorr
  0.94PFIEX International EquityPairCorr
  0.96PFIFX Strategic Asset ManaPairCorr
  0.95PFISX International Small PanyPairCorr
  0.97PFIPX Strategic Asset ManaPairCorr
  0.96SAIPX Strategic Asset ManaPairCorr
  0.94PFLJX Principal Lifetime 2050PairCorr
  0.97SAUPX Strategic Asset ManaPairCorr
  0.91PFUMX Finisterre UnconstrainedPairCorr
  0.66PGBAX Global Diversified IncomePairCorr
  0.7PGBLX Global Diversified IncomePairCorr
  0.78PGBEX Blue Chip FundPairCorr
  0.77PGBGX Blue Chip FundPairCorr
  0.77PGBHX Blue Chip FundPairCorr
  0.67PGDIX Global Diversified IncomePairCorr
  0.86PGDRX Diversified Real AssetPairCorr
  0.96PGLSX Global Multi StrategyPairCorr
  0.85STCCX Short Term IncomePairCorr
  0.95PGRTX Smallcap GrowthPairCorr
  0.66PGRUX Global Real EstatePairCorr
  0.67PGSLX Principal Global SusPairCorr
  0.65PGRKX Global Real EstatePairCorr
  0.93SCBPX Strategic Asset ManaPairCorr
  0.94SCIPX Strategic Asset ManaPairCorr
  0.92SCGPX Strategic Asset ManaPairCorr
  0.96PHJEX Principal Lifetime HybridPairCorr
  0.96PHJFX Principal Lifetime HybridPairCorr
  0.96PHJGX Principal Lifetime HybridPairCorr
  0.96PHJBX Principal Lifetime HybridPairCorr
  0.97PHJDX Principal Lifetime HybridPairCorr
  0.96PHJNX Principal Lifetime HybridPairCorr
  0.96PHJQX Principal Lifetime HybridPairCorr
  0.96PHJJX Principal Lifetime HybridPairCorr
  0.96PHJMX Principal Lifetime HybridPairCorr
  0.96PHJYX Principal Lifetime HybridPairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

There is a big difference between Smallcap Mutual Fund performing well and Smallcap Fund 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 Smallcap Fund'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
SABPX  0.52  0.21  0.28  2.16  0.00 
(0.68)
 0.84 
(0.65)
 11.40 
SACAX  0.72  0.28  0.30  2.54  0.14 
(0.86)
 1.17 
(1.09)
 14.71 
SAGPX  0.68  0.29  0.35  2.44  0.00 
(0.87)
 1.04 
(0.90)
 15.67 
PFIJX  0.19  0.05 (0.08) 0.99  0.00 
(0.24)
 0.48 
(0.32)
 1.76 
PFIEX  0.65  0.13  0.13  0.24  0.55 
(0.75)
 1.70 
(1.17)
 3.39 
PFIFX  0.20  0.03 (0.11) 0.19  0.00 
(0.25)
 0.48 
(0.31)
 1.67 
PFISX  0.63  0.13  0.12  0.27  0.68 
(0.72)
 1.41 
(1.36)
 3.86 
PFIPX  0.19  0.04 (0.10) 1.01  0.00 
(0.25)
 0.41 
(0.32)
 1.59 
SAIPX  0.35  0.13  0.17  1.74  0.00 
(0.45)
 0.59 
(0.42)
 6.99 
PFLJX  0.69  0.14  0.17  0.26  0.44 
(0.86)
 1.17 
(1.19)
 11.37 

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