Small-midcap Dividend Correlations

PMDIX Fund

USD 21.19 0.07 0.33%

The current 90-days correlation between Small Midcap Dividend and Smallcap Fund Fka is 0.68 (i.e., Poor 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

Almost no diversification

The correlation between Small Midcap Dividend Income 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 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-midcap Mutual Fund

0.88	SACAX	Strategic Asset Mana	Pair Corr
0.94	PFIFX	Strategic Asset Mana	Pair Corr
0.96	PFISX	International Small Pany	Pair Corr
0.94	PFIPX	Strategic Asset Mana	Pair Corr
0.9	PFLJX	Principal Lifetime 2050	Pair Corr
0.84	PGBHX	Blue Chip Fund	Pair Corr
0.92	PGDRX	Diversified Real Asset	Pair Corr
0.89	SCIPX	Strategic Asset Mana	Pair Corr
0.93	PHJJX	Principal Lifetime Hybrid	Pair Corr
0.93	PHJYX	Principal Lifetime Hybrid	Pair Corr
0.91	PHJTX	Principal Lifetime Hybrid	Pair Corr
0.93	PHTMX	Principal Lifetime Hybrid	Pair Corr
0.93	PHTNX	Principal Lifetime Hybrid	Pair Corr
0.93	PHTYX	Principal Lifetime Hybrid	Pair Corr
0.93	PHYFX	High Yield Fund	Pair Corr
0.96	PIIIX	Diversified International	Pair Corr
0.96	PIIQX	International Equity	Pair Corr
0.93	PINZX	Overseas Fund Instit	Pair Corr
0.86	PLFMX	Largecap Sp 500	Pair Corr
0.94	PLHHX	Principal Lifetime Hybrid	Pair Corr
0.94	PLMTX	Principal Lifetime Hybrid	Pair Corr
0.93	PLRRX	Principal Lifetime Hybrid	Pair Corr
0.88	PMBCX	Midcap Fund Class	Pair Corr
0.98	PMDDX	Small Midcap Dividend	Pair Corr
0.98	PMDAX	Small Midcap Dividend	Pair Corr
0.79	PMRIX	Government High Quality	Pair Corr
0.85	CMNWX	Principal Capital	Pair Corr
0.78	CMPGX	Government High Quality	Pair Corr
0.93	PPNPX	Smallcap Growth	Pair Corr
0.94	PPREX	Preferred Securities	Pair Corr

Moving against Small-midcap Mutual Fund

0.34

PIFPX

Inflation Protection

Pair Corr

Related Correlations Analysis

	HSCVX	PMDAX	FCSGX	GMVRX	PEVAX	EPASX	PSBMX
HSCVX		0.91	0.87	0.95	0.92	0.77	0.94	HSCVX
PMDAX	0.91		0.89	0.95	0.98	0.91	0.94	PMDAX
FCSGX	0.87	0.89		0.92	0.93	0.79	0.96	FCSGX
GMVRX	0.95	0.95	0.92		0.97	0.79	0.96	GMVRX
PEVAX	0.92	0.98	0.93	0.97		0.87	0.96	PEVAX
EPASX	0.77	0.91	0.79	0.79	0.87		0.83	EPASX
PSBMX	0.94	0.94	0.96	0.96	0.96	0.83		PSBMX
	HSCVX	PMDAX	FCSGX	GMVRX	PEVAX	EPASX	PSBMX

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
HSCVX	0.68	0.08	0.09	0.14	0.63	(0.83)	2.18	(1.40)	4.37
PMDAX	0.70	0.15	0.13	0.81	0.56	(0.76)	2.15	(1.25)	3.95
FCSGX	1.10	0.28	0.27	0.29	0.67	(1.31)	2.03	(1.67)	19.18
GMVRX	0.89	0.13	0.14	0.15	0.72	(1.11)	1.94	(1.64)	9.20
PEVAX	0.76	0.15	0.12	0.74	0.64	(0.93)	2.29	(1.18)	4.68
EPASX	0.47	0.10	0.10	0.56	0.37	(0.55)	1.39	(0.68)	2.57
PSBMX	0.84	0.14	0.13	0.20	0.78	(0.96)	1.79	(1.77)	7.83

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