Small-midcap Dividend Correlations

PMDAX Fund

USD 19.43 0.15 0.77%

The current 90-days correlation between Small Midcap Dividend and Fbanjx is 0.02 (i.e., Significant diversification). The correlation of Small-midcap Dividend 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.

Small-midcap Dividend Correlation With Market

Weak diversification

The correlation between Small Midcap Dividend Income and DJI is 0.37 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Small Midcap Dividend Income 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 Small Midcap Dividend Income. 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 Small-midcap Mutual Fund

0.83	PHTNX	Principal Lifetime Hybrid	Pair Corr
0.93	PSBMX	Smallcap Fund Fka	Pair Corr
0.9	PSIJX	Smallcap Growth	Pair Corr
0.88	PCWPX	Strategic Asset Mana	Pair Corr
0.9	FLPKX	Fidelity Low Priced	Pair Corr
0.9	FLPSX	Fidelity Low Priced	Pair Corr
0.98	VMVAX	Vanguard Mid Cap	Pair Corr
0.88	JVMAX	John Hancock Disciplined	Pair Corr
0.88	JVMIX	John Hancock Disciplined	Pair Corr
0.98	VMVIX	Vanguard Mid Cap	Pair Corr
0.91	JMVZX	Jpmorgan Mid Cap	Pair Corr
0.92	JMVRX	Jpmorgan Mid Cap	Pair Corr
0.92	JMVQX	Jpmorgan Mid Cap	Pair Corr
0.92	JMVYX	Jpmorgan Mid Cap	Pair Corr
0.89	ARTNX	Artisan Select Equity	Pair Corr
0.75	JRODX	J Hancock Ii	Pair Corr
0.79	ALCEX	Avantis Large Cap	Pair Corr
0.88	GSWPX	Goldman Sachs Smallmid	Pair Corr

Moving against Small-midcap Mutual Fund

0.58	POEIX	Origin Emerging Markets	Pair Corr
0.4	SSAGX	Virtus Seix Government	Pair Corr
0.36	LFRIX	Floating Rate	Pair Corr

Related Correlations Analysis

	FBANJX	FABWX	FURYAX	HDCAX	FZNOPX
FBANJX		0.47	0.71	0.05	0.25	FBANJX
FABWX	0.47		0.54	0.08	0.46	FABWX
FURYAX	0.71	0.54		0.11	0.54	FURYAX
HDCAX	0.05	0.08	0.11		0.1	HDCAX
FZNOPX	0.25	0.46	0.54	0.1		FZNOPX
	FBANJX	FABWX	FURYAX	HDCAX	FZNOPX

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Risk-Adjusted Indicators

There is a big difference between Small-midcap Mutual Fund performing well and Small-midcap Dividend 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 Small-midcap Dividend'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
FBANJX	0.58	0.06	0.00	0.98	0.00	0.00	1.38	(1.99)	2.83
FABWX	0.77	0.37	0.00	(4.86)	0.00	0.00	1.92	(1.12)	2.51
FURYAX	0.47	0.31	0.00	5.29	0.00	0.00	1.21	(1.31)	2.22
HDCAX	0.46	0.04	0.03	0.19	0.58	(0.51)	0.93	(1.03)	3.80
FZNOPX	0.79	0.27	0.29	2.42	0.36	(0.92)	2.03	(1.17)	2.45

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