Midcap Fund Correlations

Mutual Funds . USA . 
Fund . Midcap Fund R 6
PMAQX Fund  USD 41.54  0.07  0.17%   
The current 90-days correlation between Midcap Fund R and Principal Lifetime 2050 is 0.07 (i.e., Significant diversification). The correlation of Midcap 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.

Midcap Fund Correlation With Market

Poor diversification

The correlation between Midcap Fund R 6 and DJI is 0.65 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Midcap Fund R 6 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 Midcap Fund R 6. 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 producer price index.

Moving together with Midcap Mutual Fund

  0.68SAGPX Strategic Asset ManaPairCorr
  0.69PFLJX Principal Lifetime 2050PairCorr
  0.95PGBEX Blue Chip FundPairCorr
  0.96PGBGX Blue Chip FundPairCorr
  0.96PGBHX Blue Chip FundPairCorr
  0.67PGLSX Global Multi StrategyPairCorr
  0.77PGRTX Smallcap GrowthPairCorr
  0.7SCBPX Strategic Asset ManaPairCorr
  0.68SCIPX Strategic Asset ManaPairCorr
  0.7SCGPX Strategic Asset ManaPairCorr
  0.68PHJEX Principal Lifetime HybridPairCorr
  0.62PHJFX Principal Lifetime HybridPairCorr
  0.68PHJGX Principal Lifetime HybridPairCorr
  0.69PHJBX Principal Lifetime HybridPairCorr
  0.68PHJDX Principal Lifetime HybridPairCorr
  0.67PHJNX Principal Lifetime HybridPairCorr
  0.67PHJQX Principal Lifetime HybridPairCorr
  0.68PHJJX Principal Lifetime HybridPairCorr
  0.64PHJMX Principal Lifetime HybridPairCorr
  0.69PHJYX Principal Lifetime HybridPairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

There is a big difference between Midcap Mutual Fund performing well and Midcap 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 Midcap 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  0.51  0.25  0.42  6.53  0.00 
(0.69)
 0.84 
(0.65)
 11.40 
SACAX  0.71  0.34  0.43  12.96  0.00 
(0.86)
 1.11 
(1.09)
 14.71 
SAGPX  0.68  0.25  0.32  1.60  0.00 
(0.88)
 1.02 
(0.99)
 15.67 
PFIJX  0.17  0.06  0.04  4.10  0.00 
(0.23)
 0.49 
(0.32)
 1.76 
PFIEX  0.55  0.20  0.25  0.39  0.15 
(0.68)
 1.41 
(0.92)
 3.22 
PFIFX  0.18  0.05  0.03  0.33  0.00 
(0.24)
 0.48 
(0.24)
 1.67 
PFISX  0.56  0.17  0.19  0.40  0.48 
(0.68)
 1.35 
(0.88)
 3.75 
PFIPX  0.18  0.05  0.02  0.30  0.00 
(0.25)
 0.40 
(0.31)
 1.59 
SAIPX  0.34  0.16  0.30  4.11  0.00 
(0.43)
 0.63 
(0.42)
 6.99 
PFLJX  0.67  0.17  0.16  1.47  0.45 
(0.84)
 1.15 
(1.19)
 11.37 

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