Midcap Growth Correlations

Mutual Funds . USA . 
Fund . Midcap Growth Fund
PHPPX Fund  USD 12.87  0.19  1.50%   
The current 90-days correlation between Midcap Growth and Strategic Asset Management is -0.09 (i.e., Good diversification). The correlation of Midcap Growth 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.

Midcap Growth Correlation With Market

Almost no diversification

The correlation between Midcap Growth Fund and DJI is 0.92 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Midcap Growth 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 Midcap Growth 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 american community survey.

Moving together with Midcap Mutual Fund

  0.94SABPX Strategic Asset ManaPairCorr
  0.94SACAX Strategic Asset ManaPairCorr
  0.75SAGPX Strategic Asset ManaPairCorr
  0.7PFIJX Strategic Asset ManaPairCorr
  0.96PFIEX International EquityPairCorr
  0.69PFIFX Strategic Asset ManaPairCorr
  0.72PFISX International Small PanyPairCorr
  0.95PFIPX Strategic Asset ManaPairCorr
  0.93SAIPX Strategic Asset ManaPairCorr
  0.99PFLJX Principal Lifetime 2050PairCorr
  0.73PFPPX Midcap GrowthPairCorr
  0.67PFRSX Real Estate SecuritiesPairCorr
  0.69SAUPX Strategic Asset ManaPairCorr
  0.92PFUMX Finisterre UnconstrainedPairCorr
  0.88PGBAX Global Diversified IncomePairCorr
  0.92PGBLX Global Diversified IncomePairCorr
  0.74PGBEX Blue Chip FundPairCorr
  0.74PGBGX Blue Chip FundPairCorr
  0.99PGBHX Blue Chip FundPairCorr
  0.66PGDCX Global Diversified IncomePairCorr
  0.88PGDIX Global Diversified IncomePairCorr
  0.88PGDRX Diversified Real AssetPairCorr
  0.96PGLSX Global Multi StrategyPairCorr
  0.99PGRTX Smallcap GrowthPairCorr
  0.89PGRUX Global Real EstatePairCorr
  0.8PGSLX Principal Global SusPairCorr
  0.85PGRKX 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
  0.71PHJFX Principal Lifetime HybridPairCorr
  0.99PHJGX Principal Lifetime HybridPairCorr
  0.76PHJBX Principal Lifetime HybridPairCorr
  0.73PHJDX Principal Lifetime HybridPairCorr
  0.73PHJNX Principal Lifetime HybridPairCorr
  0.94PHJQX Principal Lifetime HybridPairCorr
  0.75PHJJX Principal Lifetime HybridPairCorr
  0.75PHJYX Principal Lifetime HybridPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Midcap Mutual Fund performing well and Midcap Growth 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 Midcap Growth'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
SABPX  0.59  0.09 (0.01)(2.03) 0.97 
(0.55)
 1.22 
(1.42)
 6.56 
SACAX  0.86  0.15  0.02 (2.82) 1.51 
(0.82)
 1.89 
(1.86)
 10.20 
SAGPX  0.65  0.20  0.17  0.46  0.42 
(0.73)
 1.52 
(1.14)
 8.62 
PFIJX  0.27  0.07 (0.02) 0.52  0.00 
(0.34)
 0.75 
(0.60)
 2.59 
PFIEX  0.82  0.09  0.04  0.23  1.37 
(0.81)
 1.59 
(1.45)
 8.03 
PFIFX  0.28  0.08 (0.02) 0.55  0.00 
(0.34)
 0.75 
(0.60)
 2.75 
PFISX  0.60  0.38  0.45  1.23  0.00 
(0.80)
 1.40 
(0.68)
 7.06 
PFIPX  0.31  0.01 (0.10) 0.16  0.44 
(0.33)
 0.75 
(0.83)
 2.57 
SAIPX  0.41  0.06 (0.06)(1.54) 0.67 
(0.42)
 0.89 
(1.09)
 4.14 
PFLJX  0.87  0.06  0.03  0.17  1.45 
(0.84)
 1.79 
(1.63)
 10.36 

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