Performance Trust Correlations

Mutual Funds . USA . 
Fund . Performance Trust Municipal
PTIMX Fund  USD 21.74  0.06  0.28%   
The current 90-days correlation between Performance Trust and Performance Trust Strategic is 0.68 (i.e., Poor diversification). The correlation of Performance Trust 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.

Performance Trust Correlation With Market

Average diversification

The correlation between Performance Trust Municipal and DJI is 0.19 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Performance Trust Municipal 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 Performance Trust Municipal. 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 Performance Mutual Fund

  0.68PTAOX Performance TrustPairCorr
  0.71PTCOX Performance TrustPairCorr
  0.64PTCRX Performance Trust CreditPairCorr
  0.71PTIAX Performance TrustPairCorr
  0.81PTRMX Performance TrustPairCorr
  0.77VWITX Vanguard Intermediate-terPairCorr
  0.77VWIUX Vanguard Intermediate-terPairCorr
  0.95AFTEX Tax Exempt BondPairCorr
  0.95AFTFX Tax Exempt BondPairCorr
  0.97TEBCX Tax Exempt BondPairCorr
  0.94TEAFX Tax Exempt BondPairCorr
  0.94TFEBX Tax Exempt BondPairCorr
  0.68FLTMX Fidelity IntermediatePairCorr
  0.92MDNLX Blackrock NationalPairCorr
  0.94MFNLX Blackrock Natl MuniPairCorr
  0.63CIF Mfs Intermediate HighPairCorr
  0.75XNXJX Nuveen New JerseyPairCorr
  0.8NXJ Nuveen New JerseyPairCorr
  0.61PCF Putnam High IncomePairCorr
  0.98EMOCX Eaton Vance MunicipalPairCorr

Related Correlations Analysis

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.
High positive correlations   
GIBIX
+ 0.97
PTIAX
GIBIX
+ 0.96
SSIRX
NHMRX
+ 0.93
PTRMX
SSIRX
+ 0.9
PTIAX
NHMRX
+ 0.34
PTIAX
PTRMX
+ 0.32
PTIAX
  
High negative correlations   
SSIRX
- 0.02
PTRMX

Risk-Adjusted Indicators

There is a big difference between Performance Mutual Fund performing well and Performance Trust 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 Performance Trust'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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