Palm Valley Correlations

PVCIX Fund

12.42 0.04 0.32%

The current 90-days correlation between Palm Valley Capital and Aqr Long Short Equity is 0.37 (i.e., Weak diversification). The correlation of Palm Valley 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.

Palm Valley Correlation With Market

Almost no diversification

The correlation between Palm Valley Capital and DJI is 0.92 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Palm Valley Capital 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 Palm Valley Capital. 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 Palm Mutual Fund

0.97	PVCMX	Palm Valley Capital	Pair Corr
0.95	VSIIX	Vanguard Small Cap	Pair Corr
0.95	VISVX	Vanguard Small Cap	Pair Corr
0.93	DFSVX	Us Small Cap	Pair Corr
0.94	DFFVX	Us Targeted Value	Pair Corr
0.96	UBVCX	Undiscovered Managers	Pair Corr
0.96	UBVAX	Undiscovered Managers	Pair Corr
0.96	UBVSX	Undiscovered Managers	Pair Corr
0.98	VSMCX	Invesco Small Cap	Pair Corr
0.82	VTSAX	Vanguard Total Stock	Pair Corr
0.8	VFIAX	Vanguard 500 Index	Pair Corr
0.82	VTSMX	Vanguard Total Stock	Pair Corr
0.82	VSMPX	Vanguard Total Stock	Pair Corr
0.82	VITSX	Vanguard Total Stock	Pair Corr
0.82	VSTSX	Vanguard Total Stock	Pair Corr
0.94	VTIAX	Vanguard Total Inter	Pair Corr
0.8	VFINX	Vanguard 500 Index	Pair Corr
0.8	VFFSX	Vanguard 500 Index	Pair Corr
0.68	VBTLX	Vanguard Total Bond	Pair Corr
0.98	JVLIX	John Hancock Disciplined	Pair Corr
0.94	SEBLX	Sentinel Balanced	Pair Corr
0.94	NWATX	Nationwide Destination	Pair Corr
0.98	MRIBX	Mfs Research Interna	Pair Corr
0.86	LBFFX	Lord Abbett Vertible	Pair Corr
0.88	SRMCX	Deutsche Short Term	Pair Corr
0.85	EMKIX	Ashmore Emerging Markets	Pair Corr
0.67	FBIOX	Biotechnology Portfolio	Pair Corr
0.96	EVOCX	Altegris Futures Evo	Pair Corr
0.88	VWITX	Vanguard Intermediate-ter	Pair Corr
0.96	DALVX	Dunham Large Cap	Pair Corr
0.95	CAFRX	Africa Fund Africa	Pair Corr
0.98	TRPIX	T Rowe Price	Pair Corr
0.92	FESCX	First Eagle Small	Pair Corr
0.96	DMNBX	Dfa Mn Municipal	Pair Corr
0.97	PHJQX	Principal Lifetime Hybrid	Pair Corr
0.95	DTDRX	Dimensional 2065 Target	Pair Corr
0.85	COCRX	Columbia Convertible	Pair Corr
0.95	CUBAX	Calvert Unconstrained	Pair Corr

Related Correlations Analysis

	EMSLX	APDOX	USMIX	QMNIX	RECIX	SMQFX	QLENX
EMSLX		0.92	0.92	0.08	0.86	0.84	0.77	EMSLX
APDOX	0.92		0.89	-0.08	0.94	0.91	0.66	APDOX
USMIX	0.92	0.89		0.11	0.89	0.9	0.8	USMIX
QMNIX	0.08	-0.08	0.11		-0.08	0.04	0.65	QMNIX
RECIX	0.86	0.94	0.89	-0.08		0.97	0.66	RECIX
SMQFX	0.84	0.91	0.9	0.04	0.97		0.72	SMQFX
QLENX	0.77	0.66	0.8	0.65	0.66	0.72		QLENX
	EMSLX	APDOX	USMIX	QMNIX	RECIX	SMQFX	QLENX

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

SMQFX	+ 0.97	RECIX
RECIX	+ 0.94	APDOX
APDOX	+ 0.92	EMSLX
USMIX	+ 0.92	EMSLX
SMQFX	+ 0.91	APDOX
SMQFX	+ 0.9	USMIX

High negative correlations

RECIX	- 0.08	QMNIX
QMNIX	- 0.08	APDOX

Risk-Adjusted Indicators

There is a big difference between Palm Mutual Fund performing well and Palm Valley 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 Palm Valley'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
EMSLX	1.00	0.38	0.32	0.84	0.50	(1.15)	2.05	(1.66)	19.48
APDOX	0.10	0.07	(0.07)	1.76	0.00	(0.15)	0.28	(0.18)	0.56
USMIX	0.89	0.13	0.12	0.20	0.76	(1.06)	2.09	(1.49)	5.37
QMNIX	0.30	0.00	(0.15)	(0.18)	0.39	(0.34)	0.58	(0.81)	2.14
RECIX	0.85	0.26	0.25	0.43	0.54	(0.98)	2.02	(1.42)	11.71
SMQFX	1.26	0.61	0.73	1.09	0.00	(1.71)	1.80	(1.38)	35.01
QLENX	0.36	0.04	(0.04)	0.24	0.28	(0.43)	0.85	(0.63)	2.30

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