Midcap Growth Correlations

Summary

PPQSXDelisted Fund

USD 11.92 0.00 0.00%

The current 90-days correlation between Midcap Growth and Blackrock Science Technology is -0.23 (i.e., Very good diversification). The correlation of Midcap Growth 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 Growth Correlation With Market

Good diversification

The correlation between Midcap Growth Fund and DJI is -0.06 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Midcap Growth Fund and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Equity Center to better understand how to build diversified portfolios. 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 state.

Moving together with Midcap Mutual Fund

0.73	BA	Boeing	Pair Corr
0.76	AXP	American Express	Pair Corr
0.62	IBM	International Business Tech Boost	Pair Corr
0.72	MMM	3M Company	Pair Corr
0.66	CSCO	Cisco Systems	Pair Corr

Moving against Midcap Mutual Fund

0.69	INTC	Intel	Pair Corr
0.55	MCD	McDonalds Earnings Call This Week	Pair Corr
0.53	RRMGX	T Rowe Price	Pair Corr
0.52	PAMCX	T Rowe Price	Pair Corr
0.52	RPMGX	T Rowe Price	Pair Corr
0.51	TRQZX	T Rowe Price	Pair Corr
0.51	JNJ	Johnson Johnson	Pair Corr
0.49	PRJIX	T Rowe Price	Pair Corr
0.48	TRUZX	T Rowe Price	Pair Corr
0.45	TRV	The Travelers Companies	Pair Corr
0.43	NHS	Neuberger Berman High	Pair Corr
0.42	PMBCX	Midcap Fund Class	Pair Corr
0.39	PEMGX	Midcap Fund Class	Pair Corr
0.39	VZ	Verizon Communications	Pair Corr
0.38	PCBIX	Midcap Fund Institutional	Pair Corr
0.32	PRNHX	T Rowe Price	Pair Corr

Related Correlations Analysis

	BSTSX	HTECX	TEFQX	PTTEX	RAGTX	GISTX	FIKHX
BSTSX		0.79	0.61	0.69	0.43	0.76	0.65	BSTSX
HTECX	0.79		0.71	0.56	0.39	0.75	0.43	HTECX
TEFQX	0.61	0.71		0.36	0.76	0.9	0.46	TEFQX
PTTEX	0.69	0.56	0.36		0.01	0.4	0.88	PTTEX
RAGTX	0.43	0.39	0.76	0.01		0.81	0.27	RAGTX
GISTX	0.76	0.75	0.9	0.4	0.81		0.49	GISTX
FIKHX	0.65	0.43	0.46	0.88	0.27	0.49		FIKHX
	BSTSX	HTECX	TEFQX	PTTEX	RAGTX	GISTX	FIKHX

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Risk-Adjusted Indicators

There is a big difference between Midcap Mutual Fund performing well and Midcap Growth 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 Growth'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
BSTSX	1.26	0.02	(0.01)	0.12	2.01	(1.25)	2.40	(2.50)	9.07
HTECX	1.05	0.07	0.02	0.22	1.60	(0.99)	1.73	(2.31)	9.04
TEFQX	1.36	0.18	0.09	0.37	1.63	(1.51)	2.95	(2.79)	8.29
PTTEX	1.10	(0.09)	0.00	(0.17)	0.00	0.00	1.82	(2.45)	7.89
RAGTX	1.17	0.15	0.06	0.42	1.52	(1.24)	2.51	(2.43)	7.83
GISTX	1.13	0.11	0.04	0.34	1.55	(1.14)	2.26	(2.52)	7.34
FIKHX	1.28	(0.08)	0.00	(0.08)	0.00	0.00	2.12	(2.55)	9.58

Midcap Growth Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Midcap Growth mutual fund to make a market-neutral strategy. Peer analysis of Midcap Growth could also be used in its relative valuation, which is a method of valuing Midcap Growth by comparing valuation metrics with similar companies.

Blackrock Science Technology Hennessy Technology Fund Firsthand Technology Opportunities Putnam Global Technology Allianzgi Technology Fund Goldman Sachs Technology Fidelity Advisor Technology American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup SentinelOne CVS Health Corp Chevron Corp

Risk & Return

Correlation

Still Interested in Midcap Growth Fund?

Investing in delisted funds can be risky, as the mutual fund is no longer traded on a public exchange and can therefore be difficult to sell. Delisting typically occurs when a company has failed to meet exchange requirements or has been acquired. Before investing, it's important to thoroughly research the company, including its financial health and prospects for the future, as well as the reasons for its delisting. Additionally, it may be difficult to find accurate and up-to-date information on the company and its stock.

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