Pioneer Floating Correlations

FLRCX Fund

USD 6.10 0.01 0.16%

The current 90-days correlation between Pioneer Floating Rate and Financial Industries Fund is 0.23 (i.e., Modest diversification). The correlation of Pioneer Floating 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.

Pioneer Floating Correlation With Market

Modest diversification

The correlation between Pioneer Floating Rate and DJI is 0.25 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Pioneer Floating Rate and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Pioneer Floating Rate. 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 main economic indicators.

Moving together with Pioneer Mutual Fund

0.65	CSCO	Cisco Systems	Pair Corr
0.62	MSFT	Microsoft Sell-off Trend	Pair Corr

Moving against Pioneer Mutual Fund

0.49	XNBHX	Neuberger Berman Int	Pair Corr
0.39	XDSMX	Dreyfus Strategic	Pair Corr
0.58	MCD	McDonalds	Pair Corr
0.51	KO	Coca Cola Earnings Call This Week	Pair Corr

Related Correlations Analysis

	FIDAX	MSVIX	FTIXX	FIKBX	MCBXX	XFINX
FIDAX		0.98	0.83	0.99	0.86	-0.29	FIDAX
MSVIX	0.98		0.8	0.99	0.82	-0.35	MSVIX
FTIXX	0.83	0.8		0.81	0.88	-0.12	FTIXX
FIKBX	0.99	0.99	0.81		0.84	-0.32	FIKBX
MCBXX	0.86	0.82	0.88	0.84		-0.24	MCBXX
XFINX	-0.29	-0.35	-0.12	-0.32	-0.24		XFINX
	FIDAX	MSVIX	FTIXX	FIKBX	MCBXX	XFINX

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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

FIKBX	+ 0.99	FIDAX
FIKBX	+ 0.99	MSVIX
MSVIX	+ 0.98	FIDAX
MCBXX	+ 0.88	FTIXX
MCBXX	+ 0.86	FIDAX
MCBXX	+ 0.84	FIKBX

High negative correlations

XFINX	- 0.35	MSVIX
XFINX	- 0.32	FIKBX
XFINX	- 0.29	FIDAX
XFINX	- 0.24	MCBXX
XFINX	- 0.12	FTIXX

Risk-Adjusted Indicators

There is a big difference between Pioneer Mutual Fund performing well and Pioneer Floating 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 Pioneer Floating'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
FIDAX	0.87	0.36	0.03	(0.97)	0.78	(0.96)	1.92	(2.02)	10.83
MSVIX	1.02	0.42	0.04	(0.61)	1.07	(1.20)	2.13	(1.96)	13.17
FTIXX	0.03	0.00	0.00	0.00	0.00	0.00	0.00	0.00	1.01
FIKBX	0.97	0.42	0.06	(0.95)	0.84	(1.09)	2.49	(1.79)	11.84
MCBXX	0.03	0.00	0.00	0.00	0.00	0.00	0.00	0.00	1.01
XFINX	0.41	(0.03)	0.00	(1.84)	0.00	0.00	0.77	(1.41)	4.64

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