Pnc Emerging Correlations

PIEFX Fund

USD 20.61 0.23 1.13%

The correlation of Pnc Emerging 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.

Pnc Emerging Correlation With Market

Very weak diversification

The correlation between Pnc Emerging Markets and DJI is 0.51 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Pnc Emerging Markets 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 Pnc Emerging Markets. 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 price.

Moving together with Pnc Mutual Fund

0.93	QKBGX	Federated Mdt Balanced	Pair Corr
0.84	QLSCX	Federated Mdt Small	Pair Corr
0.79	FSTKX	Federated Mdt Large	Pair Corr
0.81	FSTLX	Federated Mdt Large	Pair Corr
0.79	FSTRX	Federated Mdt Large	Pair Corr
0.99	PIGDX	Pnc International Growth	Pair Corr
0.75	VSFCX	Federated Clover Small	Pair Corr
0.94	PMIEX	Pnc International Equity	Pair Corr
0.84	FGCIX	Federated Short-intermedia	Pair Corr
0.84	FGFLX	Federated International	Pair Corr
0.94	QALGX	Federated Mdt Large	Pair Corr
0.88	FHCOX	Federated Hermes Con	Pair Corr
0.84	QASCX	Federated Mdt Small	Pair Corr
0.82	FHTIX	Federated High Yield	Pair Corr
0.8	FHYTX	Federated High Yield	Pair Corr
0.89	FHYSX	Federated High Yield	Pair Corr
0.89	FICMX	Federated Government	Pair Corr
0.82	FIPRX	Federated Hermes Inf	Pair Corr
0.97	FISPX	Federated Max Cap	Pair Corr
0.84	QCSCX	Federated Mdt Small	Pair Corr
0.68	FKKSX	Federated Kaufmann Small	Pair Corr
0.71	FMCRX	Federated Mid Cap	Pair Corr
0.94	IHICX	Federated Emerging Market	Pair Corr
0.8	FMSTX	Federated Mdt Large	Pair Corr
0.84	QISCX	Federated Mdt Small	Pair Corr
0.99	VEMAX	Vanguard Emerging Markets	Pair Corr
0.99	VEIEX	Vanguard Emerging Markets	Pair Corr
0.99	VEMIX	Vanguard Emerging Markets	Pair Corr
0.99	VEMRX	Vanguard Emerging Markets	Pair Corr
0.98	FWWNX	American Funds New	Pair Corr
0.98	FNFWX	American Funds New	Pair Corr
0.97	NEWFX	New World Fund	Pair Corr
0.98	NWFFX	New World Fund	Pair Corr
0.98	NEWCX	New World Fund	Pair Corr
0.99	ODVYX	Oppenheimer Developing	Pair Corr
0.89	FTYPX	Fidelity Freedom Index	Pair Corr
0.89	FFBTX	Fidelity Freedom Blend	Pair Corr
0.68	GABFX	Gmo Asset Allocation	Pair Corr

Related Correlations Analysis

	CAMAX	FLYCX	FLRAX	FQUAX	HDOGX	EVCGX	SISLX	SISEX	ENTIX	HSSAX
CAMAX		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	CAMAX
FLYCX	0.0		0.83	0.22	0.73	0.93	0.94	0.95	0.88	0.58	FLYCX
FLRAX	0.0	0.83		0.08	0.56	0.84	0.78	0.78	0.79	0.53	FLRAX
FQUAX	0.0	0.22	0.08		0.25	0.14	0.27	0.27	0.0	0.4	FQUAX
HDOGX	0.0	0.73	0.56	0.25		0.64	0.75	0.75	0.5	0.15	HDOGX
EVCGX	0.0	0.93	0.84	0.14	0.64		0.89	0.89	0.91	0.61	EVCGX
SISLX	0.0	0.94	0.78	0.27	0.75	0.89		1.0	0.77	0.56	SISLX
SISEX	0.0	0.95	0.78	0.27	0.75	0.89	1.0		0.77	0.56	SISEX
ENTIX	0.0	0.88	0.79	0.0	0.5	0.91	0.77	0.77		0.54	ENTIX
HSSAX	0.0	0.58	0.53	0.4	0.15	0.61	0.56	0.56	0.54		HSSAX
	CAMAX	FLYCX	FLRAX	FQUAX	HDOGX	EVCGX	SISLX	SISEX	ENTIX	HSSAX

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

SISEX	+ 1.0	SISLX
SISEX	+ 0.95	FLYCX
SISLX	+ 0.94	FLYCX
EVCGX	+ 0.93	FLYCX
ENTIX	+ 0.91	EVCGX
SISLX	+ 0.89	EVCGX

High negative correlations

ENTIX	- 0.0	FQUAX
HSSAX	- 0.0	CAMAX
ENTIX	- 0.0	CAMAX
SISEX	- 0.0	CAMAX
SISLX	- 0.0	CAMAX
EVCGX	- 0.0	CAMAX

Risk-Adjusted Indicators

There is a big difference between Pnc Mutual Fund performing well and Pnc Emerging 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 Pnc Emerging'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 Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
CAMAX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
FLYCX	0.51	0.02	0.02	0.07	0.66	(0.53)	1.37	(0.76)	4.45
FLRAX	0.51	0.10	0.05	(0.38)	0.64	(0.54)	1.38	(0.75)	4.45
FQUAX	0.59	(0.08)	0.00	(0.04)	0.00	0.00	1.37	(1.22)	3.34
HDOGX	0.33	0.00	(0.07)	0.06	0.38	(0.34)	0.66	(0.72)	1.80
EVCGX	0.92	0.03	0.03	0.08	1.22	(1.02)	1.85	(1.54)	7.87
SISLX	0.56	0.05	0.04	0.13	0.64	(0.58)	1.15	(0.95)	3.86
SISEX	0.55	0.05	0.04	0.13	0.64	(0.58)	1.15	(0.95)	3.83
ENTIX	0.81	(0.01)	0.00	0.04	1.00	(0.92)	1.59	(1.23)	6.41
HSSAX	1.04	(0.09)	(0.03)	0.00	1.44	(1.16)	3.01	(1.51)	10.27

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