Blue Chip Correlations

Mutual Funds . USA . 
Fund . Blue Chip Fund
PGBHX Fund  USD 50.61  0.15  0.30%   
The current 90-days correlation between Blue Chip Fund and Federated Government Income is -0.01 (i.e., Good 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

Good diversification

The correlation between Blue Chip Fund and DJI is -0.04 (i.e., Good 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 rate.

Moving together with Blue Mutual Fund

  0.74SABPX Strategic Asset ManaPairCorr
  0.74SACAX Strategic Asset ManaPairCorr
  0.99SAGPX Strategic Asset ManaPairCorr
  0.78PFIJX Strategic Asset ManaPairCorr
  0.95PFIEX International EquityPairCorr
  0.95PFIFX Strategic Asset ManaPairCorr
  0.66PFISX International Small PanyPairCorr
  0.78PFIPX Strategic Asset ManaPairCorr
  0.98SAIPX Strategic Asset ManaPairCorr
  0.99PFLJX Principal Lifetime 2050PairCorr
  0.73PFPPX Midcap GrowthPairCorr
  0.71SAUPX Strategic Asset ManaPairCorr
  0.89PFUMX Finisterre UnconstrainedPairCorr
  0.69PGBAX Global Diversified IncomePairCorr
  0.77PGBLX Global Diversified IncomePairCorr
  1.0PGBEX Blue Chip FundPairCorr
  0.74PGBGX Blue Chip FundPairCorr
  0.78PGDCX Global Diversified IncomePairCorr
  0.92PGDIX Global Diversified IncomePairCorr
  0.93PGDRX Diversified Real AssetPairCorr
  0.95PGLSX Global Multi StrategyPairCorr
  0.82STCCX Short Term IncomePairCorr
  0.99PGRTX Smallcap GrowthPairCorr
  0.82PGRUX Global Real EstatePairCorr
  0.82PGRKX Global Real EstatePairCorr
  0.73PGWIX Midcap GrowthPairCorr
  0.99SCBPX Strategic Asset ManaPairCorr
  0.98SCIPX Strategic Asset ManaPairCorr
  0.99SCGPX Strategic Asset ManaPairCorr
  0.99PHJEX Principal Lifetime HybridPairCorr
  0.97PHJFX Principal Lifetime HybridPairCorr
  0.99PHJGX Principal Lifetime HybridPairCorr
  0.99PHJBX Principal Lifetime HybridPairCorr
  0.99PHJDX Principal Lifetime HybridPairCorr
  0.98PHJNX Principal Lifetime HybridPairCorr
  0.98PHJQX Principal Lifetime HybridPairCorr
  0.74PHJJX 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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