Profunds-large Cap Correlations

Mutual Funds . USA . 
Fund . Profunds Large Cap Growth
LGPSX Fund  USD 38.39  0.24  0.63%   
The current 90-days correlation between Profunds Large Cap and Franklin Natural Resources is 0.34 (i.e., Weak diversification). The correlation of Profunds-large Cap 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.

Profunds-large Cap Correlation With Market

Good diversification

The correlation between Profunds Large Cap Growth and DJI is -0.07 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Profunds Large Cap Growth and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Profunds Large Cap Growth. 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 state.

Moving together with Profunds-large Mutual Fund

  0.98TEPIX Technology UltrasectorPairCorr
  0.98TEPSX Technology UltrasectorPairCorr
  1.0LGPIX Large Cap GrowthPairCorr
  0.99OTPIX Nasdaq 100 ProfundPairCorr
  0.92UJPIX Ultrajapan ProfundPairCorr
  0.99OTPSX Nasdaq 100 ProfundPairCorr
  0.95UJPSX Ultrajapan ProfundPairCorr
  0.94MLPSX Mid Cap ValuePairCorr
  0.94MLPIX Mid Cap ValuePairCorr
  0.76ENPSX Oil Gas UltrasectorPairCorr
  0.77ENPIX Oil Gas UltrasectorPairCorr
  0.91BTCFX Bitcoin Strategy ProfundPairCorr
  0.74PHPIX Pharmaceuticals UltrasectorPairCorr
  0.74PHPSX Pharmaceuticals UltrasectorPairCorr
  0.98INPIX Internet UltrasectorPairCorr
  0.99INPSX Internet UltrasectorPairCorr
  1.0ULPIX Ultrabull ProfundPairCorr
  0.98ULPSX Ultrabull ProfundPairCorr
  0.99WCPIX Mobile TelecommunicatioPairCorr
  0.97WCPSX Mobile TelecommunicatioPairCorr
  0.78OEPSX Oil Equipment ServicesPairCorr
  0.93CYPSX Consumer ServicesPairCorr
  0.96CYPIX Consumer ServicesPairCorr
  0.81OEPIX Oil Equipment ServicesPairCorr
  0.93SVPIX Small Cap ValuePairCorr
  0.93SVPSX Small Cap ValuePairCorr
  0.95UMPSX Ultramid Cap ProfundPairCorr
  0.95UMPIX Ultramid Cap ProfundPairCorr

Moving against Profunds-large Mutual Fund

  1.0BRPIX Bear Profund BearPairCorr
  1.0BRPSX Bear Profund BearPairCorr
  0.97UIPSX Ultrashort Mid CapPairCorr
  0.96UKPIX Ultrashort Japan ProfundPairCorr
  0.95UIPIX Ultrashort Mid CapPairCorr
  0.93UKPSX Ultrashort Japan ProfundPairCorr
  0.7SRPSX Short Real EstatePairCorr
  0.65SRPIX Short Real EstatePairCorr
  0.46GVPSX Us Government PlusPairCorr
  0.42GVPIX Us Government PlusPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Profunds-large Mutual Fund performing well and Profunds-large Cap 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 Profunds-large Cap'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.

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