Paradigm Select Correlations

Mutual Funds . USA . 
Fund . Paradigm Select Fund
PFSLX Fund  USD 75.24  0.65  0.86%   
The current 90-days correlation between Paradigm Select and Paradigm Micro Cap Fund is 0.94 (i.e., Almost no diversification). The correlation of Paradigm Select 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.

Paradigm Select Correlation With Market

Very poor diversification

The correlation between Paradigm Select Fund and DJI is 0.81 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Paradigm Select 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 Paradigm Select 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 bureau of economic analysis.

Moving together with Paradigm Mutual Fund

  0.99PVFAX Paradigm ValuePairCorr
  0.95PVIVX Paradigm Micro CapPairCorr
  0.71VIMAX Vanguard Mid CapPairCorr
  0.61VIMSX Vanguard Mid CapPairCorr
  0.61VMCPX Vanguard Mid CapPairCorr
  0.71VMCIX Vanguard Mid CapPairCorr
  0.62VEXAX Vanguard Extended MarketPairCorr
  0.71VEMPX Vanguard Extended MarketPairCorr
  0.71VIEIX Vanguard Extended MarketPairCorr
  0.71VEXMX Vanguard Extended MarketPairCorr
  0.62FSMAX Fidelity Extended MarketPairCorr
  0.95SMPIX Semiconductor Ultrasector Steady GrowthPairCorr
  0.95SMPSX Semiconductor Ultrasector Steady GrowthPairCorr
  0.66TTEEX T Rowe PricePairCorr
  0.66TREMX T Rowe PricePairCorr
  0.62FIKGX Fidelity Advisor SemPairCorr
  0.96ONERX One Rock Fund Steady GrowthPairCorr
  0.72FELCX Fidelity Advisor SemPairCorr
  0.72FELIX Fidelity Advisor SemPairCorr
  0.72FSELX Fidelity Select SemiPairCorr
  0.72FELAX Fidelity Advisor SemPairCorr
  0.62RGLIX Allianzgi Global NaturalPairCorr
  0.92SEPCX Energy Basic MaterialsPairCorr
  0.73SAGCX Clearbridge AggressivePairCorr
  0.74BTBFX Boston Trust AssetPairCorr
  0.65ISNHX Voya Solution 2030PairCorr
  0.63MYSIX Victory TrivalentPairCorr
  0.74RRTBX Trowe Price RetirementPairCorr
  0.9MGQAX Global Quality PortfolioPairCorr
  0.63GTENX Gateway Fund ClassPairCorr
  0.66GLOSX Pioneer Global EquityPairCorr
  0.65MRRSX Massmutual RetiresmartPairCorr
  0.96PRJIX T Rowe PricePairCorr
  0.73EPIBX Europac InternationalPairCorr
  0.84BRMSX Bramshill Income PerPairCorr
  0.73AMPFX Amcap Fund ClassPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Paradigm Mutual Fund performing well and Paradigm Select 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 Paradigm Select'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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