Plumb Equity Correlations

Mutual Funds . USA . 
Fund . Plumb Equity Fund
PLBEX Fund  USD 31.76  0.04  0.13%   
The current 90-days correlation between Plumb Equity and Plumb Balanced Fund is 0.99 (i.e., No risk reduction). The correlation of Plumb Equity 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.

Plumb Equity Correlation With Market

Very poor diversification

The correlation between Plumb Equity Fund and DJI is 0.84 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Plumb Equity 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 Plumb Equity 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 Plumb Mutual Fund

  1.0PLBBX Plumb BalancedPairCorr
  1.0PLABX Plumb BalancedPairCorr
  1.0PLAEX Plumb EquityPairCorr
  1.0PLIBX Plumb BalancedPairCorr
  1.0PLIEX Plumb EquityPairCorr
  0.99FAFGX American FundsPairCorr
  0.99FFAFX American FundsPairCorr
  0.99GFACX Growth FundPairCorr
  0.99GFAFX Growth FundPairCorr
  0.99AGTHX Growth FundPairCorr
  0.99CGFFX Growth FundPairCorr
  0.99CGFCX Growth FundPairCorr
  0.99CGFAX Growth FundPairCorr
  0.99CGFEX Growth FundPairCorr
  0.99RGAEX Growth FundPairCorr
  0.97SMPSX Semiconductor Ultrasector Steady GrowthPairCorr
  0.97SMPIX Semiconductor Ultrasector Steady GrowthPairCorr
  0.85EMO Clearbridge Energy MlpPairCorr
  0.73OSPPX Oppenheimer Steelpath MlpPairCorr
  0.72SPMPX Invesco Steelpath MlpPairCorr
  0.73MLPNX Oppenheimer Steelpath MlpPairCorr
  0.71MLPLX Oppenheimer Steelpath MlpPairCorr
  0.97RSNYX Victory Global NaturalPairCorr
  0.97RSNRX Victory Global NaturalPairCorr
  0.71SPMJX Invesco Steelpath MlpPairCorr
  0.98PHIKX Columbia ConvertiblePairCorr
  0.69MRBCX Mfs Total ReturnPairCorr
  0.99FACEX Frost Growth EquityPairCorr
  0.97ETJ Eaton Vance RiskPairCorr
  0.92BTO John Hancock FinancialPairCorr
  0.98GGMMX Gabelli Global MiniPairCorr
  0.96LICOX Lord Abbett InternationalPairCorr
  0.98AVCNX American Century EtfPairCorr
  0.95SIRIX Sierra E RetirementPairCorr
  0.99BWLIX American Beacon BridgewayPairCorr
  0.96TEDLX Tiaa Cref EmergingPairCorr
  0.99FNPFX New PerspectivePairCorr
  0.97PCSVX Pace Smallmedium ValuePairCorr
  0.99ARCVX One Choice 2030PairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Plumb Mutual Fund performing well and Plumb Equity 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 Plumb Equity'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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