Poplar Forest Correlations

IPFCX Fund

USD 31.25 0.12 0.39%

The current 90-days correlation between Poplar Forest Nerstone and Morgan Stanley Global is 0.56 (i.e., Very weak diversification). The correlation of Poplar Forest 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.

Poplar Forest Correlation With Market

Very poor diversification

The correlation between Poplar Forest Nerstone and DJI is 0.82 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Poplar Forest Nerstone and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Poplar Forest Nerstone. 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 main economic indicators.

Moving together with POPLAR Mutual Fund

0.97	PFPFX	Poplar Forest Partners	Pair Corr
0.97	IPFPX	Poplar Forest Partners	Pair Corr
0.78	FFIFX	American Funds	Pair Corr
0.78	FAIFX	American Funds	Pair Corr
0.77	IFACX	Income Fund	Pair Corr
0.78	IFAFX	Income Fund	Pair Corr
0.78	AMECX	Income Fund	Pair Corr
0.77	RIDBX	Income Fund	Pair Corr
0.77	CIMEX	Income Fund	Pair Corr
0.78	RIDFX	Income Fund	Pair Corr
0.77	CIMCX	Income Fund	Pair Corr
0.78	CIMFX	Income Fund	Pair Corr
0.75	LSHUX	Horizon Spin Off Steady Growth	Pair Corr
0.75	LSHEX	Kinetics Spin Off Steady Growth	Pair Corr
0.75	LSHCX	Horizon Spin Off Steady Growth	Pair Corr
0.74	WWNPX	Kinetics Paradigm Steady Growth	Pair Corr
0.74	KNPCX	Kinetics Paradigm Steady Growth	Pair Corr
0.77	OSPPX	Oppenheimer Steelpath Mlp	Pair Corr
0.77	SPMPX	Invesco Steelpath Mlp	Pair Corr
0.75	LSHAX	Horizon Spin Off Steady Growth	Pair Corr
0.77	SPMJX	Invesco Steelpath Mlp	Pair Corr
0.74	KNPYX	Kinetics Paradigm Steady Growth	Pair Corr
0.7	PGAIX	Pimco Global Multi	Pair Corr
0.78	ILESX	Fisher Investments	Pair Corr
0.75	SRORX	Calamos Antetokounmpo	Pair Corr
0.8	VIIIX	Vanguard Institutional	Pair Corr
0.82	FSRFX	Transportation Portfolio	Pair Corr
0.82	AMGOX	Alger Mid Cap	Pair Corr
0.68	PCF	Putnam High Income	Pair Corr
0.89	GAB	Gabelli Equity Trust	Pair Corr
0.88	ANCIX	Ancora Microcap	Pair Corr
0.63	JRI	Nuveen Real Asset	Pair Corr
0.94	AMVYX	Mid Cap Value	Pair Corr
0.92	WWLAX	Westwood Largecap Value	Pair Corr

Related Correlations Analysis

	MGKAX	EQTYX	MFIRX	CNGLX	USLUX	WIGOX
MGKAX		0.22	0.19	0.77	0.6	0.71	MGKAX
EQTYX	0.22		0.33	0.49	-0.24	0.09	EQTYX
MFIRX	0.19	0.33		0.19	0.14	0.42	MFIRX
CNGLX	0.77	0.49	0.19		0.52	0.57	CNGLX
USLUX	0.6	-0.24	0.14	0.52		0.73	USLUX
WIGOX	0.71	0.09	0.42	0.57	0.73		WIGOX
	MGKAX	EQTYX	MFIRX	CNGLX	USLUX	WIGOX

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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

CNGLX	+ 0.77	MGKAX
WIGOX	+ 0.73	USLUX
WIGOX	+ 0.71	MGKAX
USLUX	+ 0.6	MGKAX
WIGOX	+ 0.57	CNGLX
USLUX	+ 0.52	CNGLX

High negative correlations

USLUX

- 0.24

EQTYX

Risk-Adjusted Indicators

There is a big difference between POPLAR Mutual Fund performing well and Poplar Forest 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 Poplar Forest'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
MGKAX	0.73	(0.06)	(0.10)	0.02	0.90	(0.69)	1.39	(1.20)	3.63
EQTYX	0.41	(0.01)	(0.17)	0.07	0.41	(0.60)	1.11	(0.91)	2.53
MFIRX	0.09	0.01	(0.46)	(0.83)	0.00	(0.23)	0.19	(0.19)	0.76
CNGLX	0.54	(0.10)	(0.15)	(0.01)	0.77	(0.52)	1.04	(1.18)	3.68
USLUX	0.76	(0.04)	(0.06)	0.06	0.88	(0.80)	1.79	(1.59)	5.91
WIGOX	0.76	(0.02)	(0.02)	0.10	0.74	(0.90)	1.54	(1.24)	4.08

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