Pioneer Short Correlations

STIIX Fund  USD 8.91  0.01  0.11%   
The current 90-days correlation between Pioneer Short Term and Pioneer Fundamental Growth is -0.12 (i.e., Good diversification). The correlation of Pioneer Short 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.

Pioneer Short Correlation With Market

Average diversification

The correlation between Pioneer Short Term and DJI is 0.1 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Pioneer Short Term and DJI in the same portfolio, assuming nothing else is changed.
  
Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Pioneer Short Term. 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 Pioneer Mutual Fund

  0.75PFGKX Pioneer FundamentalPairCorr
  0.82PGEKX Pioneer Global EquityPairCorr
  0.95STIKX Pioneer Short TermPairCorr
  0.96STRKX Pioneer Strategic IncomePairCorr
  0.62GOF Guggenheim StrategicPairCorr
  0.78PIOKX Pioneer Fund ClassPairCorr
  0.76PMCKX Pioneer Mid CapPairCorr
  0.84PMFKX Pioneer Multi AssetPairCorr
  0.95MAUCX Pioneer Multi AssetPairCorr
  0.9MAUKX Pioneer Multi AssetPairCorr
  0.8FLEKX Pioneer Flexible OppPairCorr
  0.76PSMKX Pioneer Select MidPairCorr
  0.94PBFKX Pioneer BondPairCorr
  0.81PCBKX Pioneer Classic BalancedPairCorr
  0.78PCEKX Pioneer Core EquityPairCorr
  0.79PEQKX Pioneer Equity IncomePairCorr
  0.62VBIRX Vanguard Short TermPairCorr
  0.71VFSUX Vanguard Short TermPairCorr
  0.77VFSIX Vanguard Short TermPairCorr
  0.74VFSTX Vanguard Short TermPairCorr
  0.71VBITX Vanguard Short TermPairCorr
  0.75VBISX Vanguard Short TermPairCorr
  0.69LALDX Lord Abbett ShortPairCorr
  0.73VSCSX Vanguard Short TermPairCorr
  0.77LDLAX Lord Abbett ShortPairCorr
  0.73LDLRX Lord Abbett ShortPairCorr
  0.7CPAYX Columbia Pacific/asiaPairCorr
  0.65CASAX Columbia Pacific/asiaPairCorr
  0.79CCCZX Center St BrookfieldPairCorr
  0.65CASCX Columbia PacificasiaPairCorr
  0.73MSHLX Growth Portfolio Class Steady GrowthPairCorr
  0.76MMIUX Massmutual SelectPairCorr
  0.85LPXRX Cohen Steers LowPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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   
PIOKXPFGKX
PIOKXPGEKX
PGEKXPFGKX
PMCKXPFGKX
PMCKXPIOKX
STRKXSTIKX
  
High negative correlations   
CERPXBALRX
PMCKXCERPX
PIOKXCERPX
GOFCERPX
STRKXCERPX
STIKXCERPX

Risk-Adjusted Indicators

There is a big difference between Pioneer Mutual Fund performing well and Pioneer Short 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 Pioneer Short'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
PFGKX  0.71  0.28  0.12 (1.92) 0.58 
 2.17 
 5.52 
PGEKX  0.49  0.29  0.20 (2.79) 0.00 
 1.60 
 2.96 
BALRX  0.00  0.00  0.00  0.00  0.00 
 0.00 
 0.00 
CERPX  0.00  0.00  0.00  0.00  0.00 
 0.00 
 0.00 
STIIX  0.08  0.01 (0.83) 0.73  0.00 
 0.11 
 0.68 
STIKX  0.10  0.01 (0.90) 1.15  0.00 
 0.23 
 0.79 
STRKX  0.24  0.00 (0.28) 0.00  0.12 
 0.53 
 1.16 
GOF  0.43  0.11  0.01  0.59  0.14 
 1.10 
 2.41 
PIOKX  0.79  0.35  0.21 (3.60) 0.34 
 2.29 
 6.65 
PMCKX  0.74  0.21  0.05 (1.47) 0.73 
 1.65 
 5.44