Pinnacle Sherman Correlations

CPSHX Fund

USD 12.90 0.06 0.47%

The current 90-days correlation between Pinnacle Sherman Multi and Pinnacle Sherman Multi Strategy is -0.17 (i.e., Good diversification). The correlation of Pinnacle Sherman 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.

Pinnacle Sherman Correlation With Market

Poor diversification

The correlation between Pinnacle Sherman Multi Strateg and DJI is 0.69 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Pinnacle Sherman Multi Strateg and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Pinnacle Sherman Multi Strategy. 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 Pinnacle Mutual Fund

0.96	APSHX	Pinnacle Sherman Multi	Pair Corr
1.0	IPSHX	Pinnacle Sherman Multi	Pair Corr
0.88	PAALX	All Asset Fund	Pair Corr
0.87	PATRX	Pimco All Asset	Pair Corr
0.88	PAAIX	All Asset Fund	Pair Corr
0.88	PALPX	Pimco All Asset	Pair Corr
0.88	PASAX	All Asset Fund	Pair Corr
0.88	PASCX	All Asset Fund	Pair Corr
0.88	PAANX	Pimco All Asset	Pair Corr
0.86	PAUPX	Pimco All Asset	Pair Corr
0.85	PAUIX	Pimco All Asset	Pair Corr
0.92	WARRX	Wells Fargo Advantage	Pair Corr
0.7	PMPIX	Precious Metals Ultr	Pair Corr
0.69	PMPSX	Precious Metals Ultr	Pair Corr
0.79	FGPMX	Franklin Gold And	Pair Corr
0.79	FRGOX	Franklin Gold Precious	Pair Corr
0.78	MIDSX	Midas Fund Midas	Pair Corr
0.72	FIJDX	Gold Portfolio Fidelity	Pair Corr
0.83	PAPIX	Princeton Adaptive	Pair Corr
0.94	NTBAX	Navigator Tactical Fixed	Pair Corr
0.98	LEZKX	Blackrock Lifepath Esg	Pair Corr
0.93	BGSAX	Blackrock Science	Pair Corr
0.96	BGSIX	Blackrock Science	Pair Corr
0.83	FQTEX	Franklin Strategic Series	Pair Corr
0.96	ICEQX	Ivy E Equity	Pair Corr
0.87	MVT	Blackrock Munivest	Pair Corr
0.94	SSAOX	State Street Target	Pair Corr
0.85	ANIAX	New York Municipal	Pair Corr
0.8	NFRFX	Nuveen Symphony Floating	Pair Corr
0.81	GBMBX	Gmo Benchmark Free	Pair Corr
0.96	MWFCX	Mainstay Equity Etf	Pair Corr
0.9	EVVLX	Evaluator Very Conse	Pair Corr
0.94	TWTCX	Intermediate Term Tax	Pair Corr
0.91	FZAIX	Fidelity International	Pair Corr
0.86	PRAFX	T Rowe Price	Pair Corr
0.94	FRDCX	Fidelity Sustainable	Pair Corr

Related Correlations Analysis

	APSHX	IPSHX	PVFIX	FTGOX	PQTAX	STBKX	CEAMX	PACYX	EGMSX
APSHX		0.96	0.0	0.9	0.93	0.77	0.78	0.9	0.9	APSHX
IPSHX	0.96		0.04	0.94	0.9	0.78	0.79	0.95	0.88	IPSHX
PVFIX	0.0	0.04		0.06	0.08	0.26	0.21	0.19	0.1	PVFIX
FTGOX	0.9	0.94	0.06		0.89	0.76	0.76	0.92	0.81	FTGOX
PQTAX	0.93	0.9	0.08	0.89		0.69	0.86	0.89	0.93	PQTAX
STBKX	0.77	0.78	0.26	0.76	0.69		0.63	0.85	0.56	STBKX
CEAMX	0.78	0.79	0.21	0.76	0.86	0.63		0.83	0.83	CEAMX
PACYX	0.9	0.95	0.19	0.92	0.89	0.85	0.83		0.83	PACYX
EGMSX	0.9	0.88	0.1	0.81	0.93	0.56	0.83	0.83		EGMSX
	APSHX	IPSHX	PVFIX	FTGOX	PQTAX	STBKX	CEAMX	PACYX	EGMSX

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

IPSHX	+ 0.96	APSHX
PACYX	+ 0.95	IPSHX
FTGOX	+ 0.94	IPSHX
PQTAX	+ 0.93	APSHX
EGMSX	+ 0.93	PQTAX
PACYX	+ 0.92	FTGOX

High negative correlations

PVFIX

- 0.0

APSHX

Risk-Adjusted Indicators

There is a big difference between Pinnacle Mutual Fund performing well and Pinnacle Sherman 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 Pinnacle Sherman'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
APSHX	0.73	0.10	0.06	2.80	0.93	(0.76)	1.47	(1.53)	4.86
IPSHX	0.74	0.05	0.05	0.09	0.94	(0.75)	1.51	(1.58)	4.90
PVFIX	0.58	0.02	0.01	0.06	0.65	(0.63)	1.14	(1.06)	4.81
FTGOX	0.39	0.02	0.00	0.06	0.53	(0.38)	0.76	(1.07)	2.49
PQTAX	0.36	0.07	0.09	(10.62)	0.27	(0.49)	0.80	(0.71)	2.67
STBKX	0.14	0.00	(0.17)	0.11	0.10	(0.18)	0.28	(0.24)	1.13
CEAMX	0.07	0.00	(0.23)	(0.59)	0.00	(0.16)	0.21	(0.10)	0.63
PACYX	0.22	0.01	(0.03)	0.07	0.19	(0.25)	0.45	(0.44)	1.62
EGMSX	0.07	0.04	0.00	(2.50)	0.00	0.00	0.23	0.00	0.34

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