Plumb Equity Correlations

Mutual Funds . USA . 
Fund . Plumb Equity
PLIEX Fund  USD 32.08  0.04  0.12%   
The current 90-days correlation between Plumb Equity and Fpa Queens Road is -0.14 (i.e., Good diversification). 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 and DJI is 0.83 (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 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. 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
  1.0PLBEX Plumb EquityPairCorr
  1.0PLABX Plumb BalancedPairCorr
  1.0PLAEX Plumb EquityPairCorr
  1.0PLIBX Plumb BalancedPairCorr
  0.99FAFGX American FundsPairCorr
  0.99FFAFX American FundsPairCorr
  0.99GFACX Growth FundPairCorr
  0.75GFAFX 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
  0.71SMPSX Semiconductor Ultrasector Steady GrowthPairCorr
  0.97SMPIX Semiconductor Ultrasector Steady GrowthPairCorr
  0.71RSNYX Victory Global NaturalPairCorr
  0.72RSNRX Victory Global NaturalPairCorr
  0.98PHIKX Columbia ConvertiblePairCorr
  0.67MRBCX Mfs Total ReturnPairCorr
  0.99FACEX Frost Growth EquityPairCorr
  0.78ETJ Eaton Vance RiskPairCorr
  0.66BTO John Hancock FinancialPairCorr
  0.98GGMMX Gabelli Global MiniPairCorr
  0.96LICOX Lord Abbett InternationalPairCorr
  0.75AVCNX American Century EtfPairCorr
  0.96SIRIX Sierra E RetirementPairCorr
  0.99BWLIX American Beacon BridgewayPairCorr
  1.0AEYCX Equity GrowthPairCorr
  0.96TEDLX Tiaa Cref EmergingPairCorr
  0.99FNPFX New PerspectivePairCorr
  0.71PCSVX Pace Smallmedium ValuePairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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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