Pender Real Correlations

PNDIX Fund

10.08 0.01 0.1%

The current 90-days correlation between Pender Real Estate and Siit Ultra Short is -0.13 (i.e., Good diversification). The correlation of Pender Real 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.

Pender Real Correlation With Market

Good diversification

The correlation between Pender Real Estate and DJI is -0.06 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Pender Real Estate 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 Pender Real Estate. Also, note that the market value of any mutual fund could be closely tied with the direction of predictive economic indicators such as various price indices.

Moving together with Pender Mutual Fund

0.63	VTSAX	Vanguard Total Stock	Pair Corr
0.71	VFIAX	Vanguard 500 Index	Pair Corr
0.66	VTSMX	Vanguard Total Stock	Pair Corr
0.66	VITSX	Vanguard Total Stock	Pair Corr
0.63	VSTSX	Vanguard Total Stock	Pair Corr
0.63	VSMPX	Vanguard Total Stock	Pair Corr
0.71	VFINX	Vanguard 500 Index	Pair Corr
0.69	VFFSX	Vanguard 500 Index	Pair Corr
0.69	VGTSX	Vanguard Total Inter	Pair Corr
0.69	VTIAX	Vanguard Total Inter	Pair Corr
0.77	FPXIX	Fidelity Advisor 529	Pair Corr
0.92	GPICX	Guidepath Conservative	Pair Corr
0.75	AXP	American Express	Pair Corr
0.75	CSCO	Cisco Systems	Pair Corr
0.72	AA	Alcoa Corp	Pair Corr
0.71	DD	Dupont De Nemours	Pair Corr
0.72	IBM	International Business	Pair Corr
0.77	JNJ	Johnson Johnson	Pair Corr
0.67	MRK	Merck Company Aggressive Push	Pair Corr

Moving against Pender Mutual Fund

0.79	HD	Home Depot	Pair Corr
0.77	T	ATT Inc	Pair Corr
0.77	VZ	Verizon Communications	Pair Corr
0.76	BA	Boeing	Pair Corr
0.72	PG	Procter Gamble	Pair Corr
0.69	DIS	Walt Disney	Pair Corr

Related Correlations Analysis

	SUSAX	ASDIX	TAAQX	SWSFX	ATOAX	VFIRX	SDMQX	FUMBX
SUSAX		0.89	0.97	0.85	0.95	0.94	0.97	0.9	SUSAX
ASDIX	0.89		0.91	0.87	0.91	0.91	0.9	0.91	ASDIX
TAAQX	0.97	0.91		0.79	0.92	0.98	0.99	0.96	TAAQX
SWSFX	0.85	0.87	0.79		0.9	0.77	0.8	0.74	SWSFX
ATOAX	0.95	0.91	0.92	0.9		0.9	0.9	0.86	ATOAX
VFIRX	0.94	0.91	0.98	0.77	0.9		0.96	0.98	VFIRX
SDMQX	0.97	0.9	0.99	0.8	0.9	0.96		0.95	SDMQX
FUMBX	0.9	0.91	0.96	0.74	0.86	0.98	0.95		FUMBX
	SUSAX	ASDIX	TAAQX	SWSFX	ATOAX	VFIRX	SDMQX	FUMBX

Risk-Adjusted Indicators

There is a big difference between Pender Mutual Fund performing well and Pender Real 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 Pender Real'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	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
SUSAX	0.05	0.01	0.00	(6.36)	0.00	0.10	(0.10)	0.51
ASDIX	0.04	0.00	(0.13)	(0.30)	(0.11)	0.10	(0.10)	0.40
TAAQX	0.07	0.01	(0.09)	(0.70)	(0.17)	0.20	(0.10)	0.51
SWSFX	0.04	0.00	0.00	(0.62)	0.00	0.10	(0.10)	0.49
ATOAX	0.03	0.01	0.00	(1.21)	0.00	0.20	0.00	0.30
VFIRX	0.08	0.01	(0.07)	(0.63)	(0.16)	0.20	(0.10)	0.61
SDMQX	0.08	0.01	(0.07)	0.94	(0.17)	0.11	(0.11)	0.57
FUMBX	0.08	0.01	(0.07)	(0.42)	(0.14)	0.19	(0.10)	0.58

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