Small Midcap Correlations

PMDIX Fund

USD 20.33 0.23 1.12%

The current 90-days correlation between Small Midcap Dividend and Fulcrum Diversified Absolute is 0.31 (i.e., Weak diversification). The correlation of Small Midcap 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 Correlation With Market

Very poor diversification

The correlation between Small Midcap Dividend Income and DJI is 0.81 (i.e., Very poor 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 gross domestic product.

Moving together with Small Mutual Fund

0.75	SABPX	Strategic Asset Mana	Pair Corr
0.76	SACAX	Strategic Asset Mana	Pair Corr
0.75	SAGPX	Strategic Asset Mana	Pair Corr
0.75	PFIJX	Strategic Asset Mana	Pair Corr
0.89	PFIEX	International Equity	Pair Corr
0.82	PFIFX	Strategic Asset Mana	Pair Corr
0.82	PFISX	International Small Pany	Pair Corr
0.75	PFIPX	Strategic Asset Mana	Pair Corr
0.75	SAIPX	Strategic Asset Mana	Pair Corr
0.82	PFLJX	Principal Lifetime 2050	Pair Corr
0.75	SAUPX	Strategic Asset Mana	Pair Corr
0.8	PFUMX	Finisterre Unconstrained	Pair Corr
0.87	PGBEX	Blue Chip Fund	Pair Corr
0.87	PGBGX	Blue Chip Fund	Pair Corr
0.87	PGBHX	Blue Chip Fund	Pair Corr
0.79	PGDRX	Diversified Real Asset	Pair Corr
0.83	PGLSX	Global Multi Strategy	Pair Corr
0.78	STCCX	Short Term Income	Pair Corr
0.87	PGRTX	Smallcap Growth	Pair Corr
0.78	SCBPX	Strategic Asset Mana	Pair Corr
0.79	SCIPX	Strategic Asset Mana	Pair Corr
0.77	SCGPX	Strategic Asset Mana	Pair Corr
0.86	PHJEX	Principal Lifetime Hybrid	Pair Corr
0.81	PHJGX	Principal Lifetime Hybrid	Pair Corr
0.89	PHJBX	Principal Lifetime Hybrid	Pair Corr
0.89	PHJDX	Principal Lifetime Hybrid	Pair Corr
0.8	PHJNX	Principal Lifetime Hybrid Potential Growth	Pair Corr
0.76	PHJQX	Principal Lifetime Hybrid	Pair Corr
0.83	PHJJX	Principal Lifetime Hybrid	Pair Corr
0.8	PHJYX	Principal Lifetime Hybrid	Pair Corr

Moving against Small Mutual Fund

0.59	PGBAX	Global Diversified Income	Pair Corr
0.53	PGBLX	Global Diversified Income	Pair Corr
0.38	PFRSX	Real Estate Securities	Pair Corr
0.61	PGDCX	Global Diversified Income	Pair Corr
0.55	PGDIX	Global Diversified Income	Pair Corr
0.51	PGSLX	Principal Global Sus	Pair Corr
0.36	PGRUX	Global Real Estate	Pair Corr
0.34	PGRKX	Global Real Estate	Pair Corr

Related Correlations Analysis

	FARIX	VYRPX	MNDWX	WDIAX	EKBCX	DLTZX	FHCOX
FARIX		0.73	0.72	0.91	0.91	0.8	0.8	FARIX
VYRPX	0.73		0.69	0.71	0.74	0.63	0.57	VYRPX
MNDWX	0.72	0.69		0.72	0.74	0.73	0.71	MNDWX
WDIAX	0.91	0.71	0.72		0.87	0.84	0.85	WDIAX
EKBCX	0.91	0.74	0.74	0.87		0.77	0.77	EKBCX
DLTZX	0.8	0.63	0.73	0.84	0.77		0.97	DLTZX
FHCOX	0.8	0.57	0.71	0.85	0.77	0.97		FHCOX
	FARIX	VYRPX	MNDWX	WDIAX	EKBCX	DLTZX	FHCOX

Risk-Adjusted Indicators

There is a big difference between Small Mutual Fund performing well and Small Midcap 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'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
FARIX	0.50	0.09	0.08	0.29	0.38	(0.60)	1.07	(0.95)	3.57
VYRPX	0.17	0.00	(0.19)	0.06	0.14	(0.20)	0.37	(0.37)	0.93
MNDWX	0.06	0.00	(0.35)	0.00	0.00	(0.10)	0.10	(0.10)	0.38
WDIAX	0.55	0.07	0.02	0.79	0.51	(0.64)	1.15	(1.01)	3.12
EKBCX	1.01	0.21	0.16	0.26	1.03	(1.15)	1.77	(1.98)	10.52
DLTZX	0.05	0.00	(0.39)	0.05	0.00	(0.18)	0.13	(0.13)	0.51
FHCOX	0.03	0.00	0.00	(0.12)	0.00	0.00	0.10	(0.10)	0.50

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