Blue Chip Correlations

Mutual Funds . USA . 
Fund . Blue Chip Fund
PGBEX Fund  USD 48.07  0.66  1.39%   
The current 90-days correlation between Blue Chip Fund and Goldman Sachs Small is 0.89 (i.e., Very poor diversification). The correlation of Blue Chip 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.

Blue Chip Correlation With Market

Almost no diversification

The correlation between Blue Chip Fund and DJI is 0.97 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Blue Chip 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 Blue Chip 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 income.

Moving together with Blue Mutual Fund

  0.99SABPX Strategic Asset ManaPairCorr
  0.99SACAX Strategic Asset ManaPairCorr
  0.99SAGPX Strategic Asset ManaPairCorr
  0.97PFIEX International EquityPairCorr
  0.94PFIFX Strategic Asset ManaPairCorr
  0.95PFISX International Small PanyPairCorr
  0.93PFIPX Strategic Asset ManaPairCorr
  0.97SAIPX Strategic Asset ManaPairCorr
  0.99PFLJX Principal Lifetime 2050PairCorr
  0.77PFRSX Real Estate SecuritiesPairCorr
  0.89PFUMX Finisterre UnconstrainedPairCorr
  0.9PGBAX Global Diversified IncomePairCorr
  1.0PGBHX Blue Chip FundPairCorr
  0.88PGDCX Global Diversified IncomePairCorr
  0.89PGDIX Global Diversified IncomePairCorr
  0.93PGDRX Diversified Real AssetPairCorr
  0.86PGSLX Principal Global SusPairCorr
  0.99SCBPX Strategic Asset ManaPairCorr
  0.99PHJEX Principal Lifetime HybridPairCorr
  0.99PHJBX Principal Lifetime HybridPairCorr
  0.98PHJNX Principal Lifetime HybridPairCorr
  0.98PHJQX Principal Lifetime HybridPairCorr
  0.99PHJJX Principal Lifetime HybridPairCorr
  0.98PHJTX Principal Lifetime HybridPairCorr
  0.99PHTJX Principal Lifetime HybridPairCorr
  0.98PHTQX Principal Lifetime HybridPairCorr
  0.97PHTMX Principal Lifetime HybridPairCorr
  0.98PHTNX Principal Lifetime HybridPairCorr
  0.99PHTYX Principal Lifetime HybridPairCorr
  0.98PIIIX Diversified InternationalPairCorr
  0.98PIIJX Diversified InternationalPairCorr
  0.98PINIX International FundPairCorr
  0.98PINRX Diversified InternationalPairCorr
  0.76PIREX Real Estate SecuritiesPairCorr
  0.93PLARX Smallcap ValuePairCorr
  1.0PLCGX Largecap GrowthPairCorr
  0.99PLHHX Principal Lifetime HybridPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Blue Mutual Fund performing well and Blue Chip 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 Blue Chip'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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