Global Resources Correlations

PSPFX Fund

USD 3.57 0.01 0.28%

The current 90-days correlation between Global Resources and Multi Manager High Yield is -0.08 (i.e., Good diversification). The correlation of Global Resources 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.

Global Resources Correlation With Market

Weak diversification

The correlation between Global Resources Fund and DJI is 0.31 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Global Resources 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, which includes a position in Global Resources Fund. 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 census.

Moving together with Global Mutual Fund

0.73	TRNEX	T Rowe Price	Pair Corr
0.7	VMIAX	Vanguard Materials Index	Pair Corr
0.8	PRNEX	T Rowe Price	Pair Corr
0.88	GEACX	Gmo Trust	Pair Corr
0.88	GAAHX	Gmo Resources	Pair Corr
0.88	GMOWX	Gmo Resources	Pair Corr
0.8	GHAIX	Global Hard Assets	Pair Corr
0.65	FMFCX	Materials Portfolio	Pair Corr
0.66	KNPYX	Kinetics Paradigm	Pair Corr
0.67	KNPCX	Kinetics Paradigm	Pair Corr
0.64	LSHUX	Horizon Spin Off	Pair Corr
0.64	WWNPX	Kinetics Paradigm	Pair Corr
0.65	LSHAX	Horizon Spin Off	Pair Corr
0.67	LSHCX	Horizon Spin Off	Pair Corr
0.65	KNPAX	Kinetics Paradigm	Pair Corr

Moving against Global Mutual Fund

0.46	UGSDX	Us Government Securities	Pair Corr
0.82	RYAFX	Inverse Russell 2000	Pair Corr
0.57	CREMX	Redwood Real Estate	Pair Corr
0.45	DAFRX	Dunham Floating Rate	Pair Corr
0.44	AGVRX	Invesco Government	Pair Corr
0.39	FSTZX	Fidelity Series 0	Pair Corr
0.31	CSTIX	Calamos Short Term	Pair Corr
0.64	ACTVX	Zero Pon 2025	Pair Corr
0.59	PSTIX	Stocksplus Tr Short	Pair Corr

Related Correlations Analysis

	NMHYX	NHIEX	PHDTX	IPIMX	DNHYX	GHVIX	SGYAX	PYRLX
NMHYX		0.95	0.98	0.95	0.98	0.98	0.93	0.99	NMHYX
NHIEX	0.95		0.94	0.98	0.92	0.96	0.89	0.95	NHIEX
PHDTX	0.98	0.94		0.94	0.95	0.98	0.88	0.96	PHDTX
IPIMX	0.95	0.98	0.94		0.95	0.96	0.91	0.96	IPIMX
DNHYX	0.98	0.92	0.95	0.95		0.97	0.91	0.99	DNHYX
GHVIX	0.98	0.96	0.98	0.96	0.97		0.89	0.98	GHVIX
SGYAX	0.93	0.89	0.88	0.91	0.91	0.89		0.92	SGYAX
PYRLX	0.99	0.95	0.96	0.96	0.99	0.98	0.92		PYRLX
	NMHYX	NHIEX	PHDTX	IPIMX	DNHYX	GHVIX	SGYAX	PYRLX

Click cells to compare fundamentals

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Risk-Adjusted Indicators

There is a big difference between Global Mutual Fund performing well and Global Resources 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 Global Resources' 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
NMHYX	0.11	0.01	0.41	(0.78)	0.00	(0.15)	0.24	(0.24)	0.72
NHIEX	0.16	0.02	0.35	(0.39)	0.00	(0.24)	0.53	(0.26)	1.33
PHDTX	0.11	0.02	0.40	(2.63)	0.00	(0.15)	0.23	(0.23)	0.79
IPIMX	0.14	0.01	0.36	(0.68)	0.02	(0.21)	0.46	(0.23)	1.04
DNHYX	0.14	0.01	0.27	0.90	0.13	(0.18)	0.23	(0.23)	0.93
GHVIX	0.14	0.01	0.38	(0.46)	0.08	(0.17)	0.24	(0.24)	0.84
SGYAX	0.15	0.03	0.44	0.63	0.00	(0.28)	0.57	(0.28)	1.28
PYRLX	0.12	0.01	0.30	(6.89)	0.00	(0.20)	0.31	(0.16)	0.80

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