Pace Large Correlations

PLAAX Fund

USD 16.06 0.11 0.68%

The current 90-days correlation between Pace Large Growth and Schwab Health Care is -0.12 (i.e., Good diversification). The correlation of Pace Large 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.

Pace Large Correlation With Market

Good diversification

The correlation between Pace Large Growth and DJI is -0.18 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Pace Large Growth 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 Pace Large Growth. 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 nation.

Moving together with Pace Mutual Fund

0.9	PREAX	Pace Global Real	Pair Corr
1.0	PCLCX	Pace Large Growth	Pair Corr
0.9	PCMNX	Pace Municipal Fixed	Pair Corr
0.93	PCSVX	Pace Smallmedium Value	Pair Corr

Moving against Pace Mutual Fund

0.47

XPPRX

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Pair Corr

Related Correlations Analysis

	SWHFX	AHSCX	DLHAX	ETAHX	FHCCX	HCPIX	VGHCX
SWHFX		0.59	0.94	0.39	0.93	0.92	0.95	SWHFX
AHSCX	0.59		0.53	0.29	0.57	0.53	0.69	AHSCX
DLHAX	0.94	0.53		0.52	0.89	0.8	0.91	DLHAX
ETAHX	0.39	0.29	0.52		0.46	0.08	0.34	ETAHX
FHCCX	0.93	0.57	0.89	0.46		0.88	0.88	FHCCX
HCPIX	0.92	0.53	0.8	0.08	0.88		0.88	HCPIX
VGHCX	0.95	0.69	0.91	0.34	0.88	0.88		VGHCX
	SWHFX	AHSCX	DLHAX	ETAHX	FHCCX	HCPIX	VGHCX

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Risk-Adjusted Indicators

There is a big difference between Pace Mutual Fund performing well and Pace Large 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 Pace Large'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
SWHFX	0.85	(0.15)	0.00	(0.03)	0.00	0.00	1.65	(2.04)	4.35
AHSCX	0.63	(0.10)	(0.23)	(0.02)	0.80	(0.65)	1.23	(1.25)	3.27
DLHAX	0.92	(0.16)	(0.15)	(0.01)	1.33	(0.95)	1.66	(2.13)	5.56
ETAHX	1.09	0.02	(0.01)	0.23	1.31	(1.14)	2.37	(1.87)	6.79
FHCCX	0.77	(0.14)	(0.16)	0.01	1.24	(0.72)	1.61	(1.55)	5.20
HCPIX	1.33	(0.26)	0.00	(0.02)	0.00	0.00	2.87	(3.54)	8.07
VGHCX	0.90	(0.17)	0.00	(0.05)	0.00	0.00	1.43	(2.02)	5.23

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