Small-midcap Dividend Correlations

PMDIX Fund

USD 19.22 0.11 0.58%

The current 90-days correlation between Small Midcap Dividend and The Short Term Municipal is 0.06 (i.e., Significant diversification). The correlation of Small-midcap Dividend 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.

Small-midcap Dividend Correlation With Market

Poor diversification

The correlation between Small Midcap Dividend Income and DJI is 0.72 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Small Midcap Dividend Income 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 Small Midcap Dividend Income. 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 gross domestic product.

Moving together with SMALL-MIDCAP Mutual Fund

0.98	VMVAX	Vanguard Mid Cap	Pair Corr
0.99	JVMAX	John Hancock Disciplined	Pair Corr
0.99	JVMIX	John Hancock Disciplined	Pair Corr
0.98	VMVIX	Vanguard Mid Cap	Pair Corr
0.98	JMVZX	Jpmorgan Mid Cap	Pair Corr
0.98	JMVRX	Jpmorgan Mid Cap	Pair Corr
0.98	JMVQX	Jpmorgan Mid Cap	Pair Corr
0.98	JMVYX	Jpmorgan Mid Cap	Pair Corr
0.98	JMVPX	Jpmorgan Mid Cap	Pair Corr
0.98	VETAX	Victory Sycamore Est	Pair Corr
0.93	SMPSX	Semiconductor Ultrasector	Pair Corr
0.93	SMPIX	Semiconductor Ultrasector	Pair Corr
0.93	TREMX	T Rowe Price	Pair Corr
0.93	ONERX	One Rock Fund	Pair Corr
0.93	TTEEX	T Rowe Price	Pair Corr
0.94	FIKGX	Fidelity Advisor Sem	Pair Corr
0.94	FELIX	Fidelity Advisor Sem	Pair Corr
0.95	FSELX	Fidelity Select Semi	Pair Corr
0.94	FELAX	Fidelity Advisor Sem	Pair Corr
0.94	FELTX	Fidelity Advisor Sem	Pair Corr
0.61	IBM	International Business	Pair Corr

Moving against SMALL-MIDCAP Mutual Fund

0.51	MCD	McDonalds	Pair Corr
0.36	TRV	The Travelers Companies	Pair Corr

Related Correlations Analysis

	HCSBX	BBINX	TWTIX	BMBSX	GABTX	BSHIX
HCSBX		0.92	0.82	0.94	0.94	0.8	HCSBX
BBINX	0.92		0.94	0.98	0.9	0.92	BBINX
TWTIX	0.82	0.94		0.92	0.81	0.99	TWTIX
BMBSX	0.94	0.98	0.92		0.94	0.9	BMBSX
GABTX	0.94	0.9	0.81	0.94		0.77	GABTX
BSHIX	0.8	0.92	0.99	0.9	0.77		BSHIX
	HCSBX	BBINX	TWTIX	BMBSX	GABTX	BSHIX

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Risk-Adjusted Indicators

There is a big difference between SMALL-MIDCAP Mutual Fund performing well and Small-midcap Dividend 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 Small-midcap Dividend'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
HCSBX	0.05	0.02	0.00	(11.82)	0.00	0.00	0.10	(0.10)	0.42
BBINX	0.11	0.02	(1.10)	(1.33)	0.00	(0.15)	0.30	(0.20)	0.70
TWTIX	0.12	0.00	(1.04)	0.13	0.05	(0.17)	0.29	(0.19)	0.86
BMBSX	0.09	0.01	(1.27)	(6.90)	0.00	(0.12)	0.18	(0.18)	0.45
GABTX	0.54	0.23	0.02	(4.47)	0.31	(0.65)	1.33	(0.98)	2.87
BSHIX	0.12	0.00	(1.02)	0.12	0.07	(0.17)	0.31	(0.21)	0.72

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