Permanent Portfolio Correlations

PRPHX Fund

USD 61.75 0.83 1.36%

The current 90-days correlation between Permanent Portfolio Class and The Fairholme Fund is 0.54 (i.e., Very weak diversification). The correlation of Permanent Portfolio 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.

Permanent Portfolio Correlation With Market

Modest diversification

The correlation between Permanent Portfolio Class and DJI is 0.2 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Permanent Portfolio Class 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 Permanent Portfolio Class. 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 rate.

Moving together with Permanent Mutual Fund

1.0	PRPDX	Permanent Portfolio Class	Pair Corr
0.77	PRPFX	Permanent Portfolio Class	Pair Corr
0.62	PRVDX	Versatile Bond Portfolio	Pair Corr
0.96	PAGDX	Aggressive Growth	Pair Corr
0.96	PAGHX	Aggressive Growth	Pair Corr
0.79	PAGRX	Aggressive Growth	Pair Corr
0.89	FBONX	American Funds American	Pair Corr
0.89	FBAFX	American Funds American	Pair Corr
0.87	ABALX	American Balanced	Pair Corr
0.86	BALCX	American Balanced	Pair Corr
0.87	BALFX	American Balanced	Pair Corr
0.76	RLBCX	American Balanced	Pair Corr
0.86	RLBBX	American Balanced	Pair Corr
0.87	CLBAX	American Balanced	Pair Corr
0.87	CLBEX	American Balanced	Pair Corr
0.89	RLBFX	American Balanced	Pair Corr
0.87	KNPYX	Kinetics Paradigm Downward Rally	Pair Corr
0.86	KMKCX	Kinetics Market Oppo Downward Rally	Pair Corr
0.88	LSHCX	Horizon Spin Off Downward Rally	Pair Corr
0.85	SMPSX	Semiconductor Ultrasector	Pair Corr
0.88	KNPAX	Kinetics Paradigm Downward Rally	Pair Corr
0.89	LSHUX	Horizon Spin Off Downward Rally	Pair Corr
0.87	KNPCX	Kinetics Paradigm Downward Rally	Pair Corr
0.9	KSCOX	Kinetics Small Cap Steady Growth	Pair Corr
0.87	WWNPX	Kinetics Paradigm Downward Rally	Pair Corr
0.64	WSCRX	Wells Fargo Advantage	Pair Corr
0.85	AMECX	Income Fund	Pair Corr
0.94	BMSYX	Mfs Blended Research	Pair Corr
0.8	FDMLX	Fidelity Series Intrinsic	Pair Corr
0.69	AMRFX	American Mutual	Pair Corr
0.72	JABRX	Janus Balanced	Pair Corr

Related Correlations Analysis

	FAIRX	FPACX	YACKX	HSTRX	OAKBX
FAIRX		-0.49	0.04	0.34	-0.53	FAIRX
FPACX	-0.49		0.54	0.18	0.93	FPACX
YACKX	0.04	0.54		-0.01	0.58	YACKX
HSTRX	0.34	0.18	-0.01		-0.05	HSTRX
OAKBX	-0.53	0.93	0.58	-0.05		OAKBX
	FAIRX	FPACX	YACKX	HSTRX	OAKBX

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

OAKBX	+ 0.93	FPACX
OAKBX	+ 0.58	YACKX
YACKX	+ 0.54	FPACX
HSTRX	+ 0.34	FAIRX
HSTRX	+ 0.18	FPACX
YACKX	+ 0.04	FAIRX

High negative correlations

OAKBX	- 0.53	FAIRX
FPACX	- 0.49	FAIRX
OAKBX	- 0.05	HSTRX
HSTRX	- 0.01	YACKX

Risk-Adjusted Indicators

There is a big difference between Permanent Mutual Fund performing well and Permanent Portfolio 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 Permanent Portfolio'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
FAIRX	0.80	(0.18)	0.00	(0.62)	0.00	0.00	1.80	(1.89)	6.90
FPACX	0.40	0.06	(0.11)	16.22	0.49	(0.40)	0.69	(0.73)	2.32
YACKX	0.43	(0.05)	(0.19)	0.01	0.53	(0.46)	1.00	(0.70)	2.43
HSTRX	0.32	(0.01)	(0.31)	(0.05)	0.36	(0.36)	0.62	(0.62)	1.99
OAKBX	0.39	0.07	(0.09)	4.93	0.31	(0.43)	0.74	(0.75)	2.84

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