Midcap Growth Correlations

Mutual Funds USA . 
Fund . Midcap Growth Fund
PPQMX Fund  USD 6.06  0.02  0.33%   
The correlation of Midcap Growth 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.

Midcap Growth Correlation With Market

Very poor diversification

The correlation between Midcap Growth Fund and DJI is 0.87 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Midcap Growth 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 Midcap Growth 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 population.

Moving together with Midcap Mutual Fund

  0.96SABPX Strategic Asset ManaPairCorr
  0.97SACAX Strategic Asset ManaPairCorr
  0.97SAGPX Strategic Asset ManaPairCorr
  0.93PFIJX Strategic Asset ManaPairCorr
  0.95PFIEX International EquityPairCorr
  0.94PFIFX Strategic Asset ManaPairCorr
  0.93PFISX International Small PanyPairCorr
  0.94PFIPX Strategic Asset ManaPairCorr
  0.95SAIPX Strategic Asset ManaPairCorr
  0.99PFLJX Principal Lifetime 2050PairCorr
  0.98PFPPX Midcap GrowthPairCorr
  0.73PFRSX Real Estate SecuritiesPairCorr
  0.93SAUPX Strategic Asset ManaPairCorr
  0.89PFUMX Finisterre UnconstrainedPairCorr
  0.92PGBAX Global Diversified IncomePairCorr
  0.92PGBLX Global Diversified IncomePairCorr
  0.99PGBEX Blue Chip FundPairCorr
  0.99PGBGX Blue Chip FundPairCorr
  0.99PGBHX Blue Chip FundPairCorr
  0.91PGDCX Global Diversified IncomePairCorr
  0.91PGDIX Global Diversified IncomePairCorr
  0.93PGDRX Diversified Real AssetPairCorr
  0.93PGLSX Global Multi StrategyPairCorr
  0.81STCCX Short Term IncomePairCorr
  0.98PGRTX Smallcap GrowthPairCorr
  0.86PGRUX Global Real EstatePairCorr
  0.77PGSLX Principal Global SusPairCorr
  0.85PGRKX Global Real EstatePairCorr
  0.98PGWIX Midcap GrowthPairCorr
  0.98SCBPX Strategic Asset ManaPairCorr
  0.95SCIPX Strategic Asset ManaPairCorr
  0.98SCGPX Strategic Asset ManaPairCorr
  0.98PHJEX Principal Lifetime HybridPairCorr
  0.96PHJFX Principal Lifetime HybridPairCorr
  0.98PHJGX Principal Lifetime HybridPairCorr
  0.98PHJBX Principal Lifetime HybridPairCorr
  0.98PHJDX Principal Lifetime HybridPairCorr
  0.98PHJNX Principal Lifetime HybridPairCorr
  0.96PHJQX Principal Lifetime HybridPairCorr
  0.96PHJJX Principal Lifetime HybridPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Midcap Mutual Fund performing well and Midcap Growth 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 Midcap Growth'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
SABPX  0.39  0.15  0.02 (2.65) 0.24 
(0.44)
 1.21 
(0.83)
 2.84 
SACAX  0.54  0.21  0.09 (2.36) 0.43 
(0.61)
 1.64 
(1.27)
 3.89 
SAGPX  0.47  0.19  0.06 (2.23) 0.36 
(0.53)
 1.49 
(1.10)
 3.45 
PFIJX  0.22  0.08 (0.14)(3.74) 0.00 
(0.29)
 0.69 
(0.40)
 1.61 
PFIEX  0.56  0.12  0.05  0.41  0.47 
(0.62)
 1.33 
(1.13)
 3.32 
PFIFX  0.23  0.03 (0.19) 0.25  0.04 
(0.28)
 0.60 
(0.40)
 1.51 
PFISX  0.48  0.17  0.09  0.85  0.24 
(0.57)
 1.29 
(0.85)
 2.75 
PFIPX  0.22  0.03 (0.17) 0.26  0.06 
(0.28)
 0.57 
(0.40)
 1.59 
SAIPX  0.28  0.11 (0.06)(3.24) 0.00 
(0.33)
 0.89 
(0.46)
 1.97 
PFLJX  0.53  0.09  0.07  0.25  0.43 
(0.59)
 1.62 
(1.27)
 3.85 

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