Pioneer Multi Correlations

MAUCX Fund

USD 9.66 0.00 0.00%

The current 90-days correlation between Pioneer Multi Asset and Pioneer Fundamental Growth is 0.02 (i.e., Significant diversification). The correlation of Pioneer Multi 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 Multi Correlation With Market

Good diversification

The correlation between Pioneer Multi Asset Ultrashort and DJI is -0.07 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Pioneer Multi Asset Ultrashort and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Pioneer Multi Asset Ultrashort. 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 Pioneer Mutual Fund

0.83	GOF	Guggenheim Strategic	Pair Corr
1.0	MAUKX	Pioneer Multi Asset	Pair Corr
0.66	MUARX	Pioneer Flexible Opp	Pair Corr
0.67	FLEKX	Pioneer Flexible Opp	Pair Corr
0.95	PTSPX	Pimco Short Term	Pair Corr
0.95	PTSHX	Short Term Fund	Pair Corr
0.95	PSFAX	Short Term Fund	Pair Corr
0.96	PTSRX	Short Term Fund	Pair Corr
0.88	PSDNX	Putnam Ultra Short	Pair Corr
0.91	LUSNX	Lord Abbett Ultra	Pair Corr
0.78	VUBFX	Vanguard Ultra Short	Pair Corr
0.89	PSDRX	Putnam Short Duration	Pair Corr
0.89	PSDYX	Putnam Short Duration	Pair Corr
0.87	XNKGX	Nuveen Georgia Quality	Pair Corr
0.77	XPPRX	Voya Prime Rate	Pair Corr

Moving against Pioneer Mutual Fund

0.74	PBFKX	Pioneer Bond	Pair Corr
0.72	STRKX	Pioneer Strategic Income	Pair Corr
0.69	PMFRX	Pioneer Multi Asset	Pair Corr
0.66	PMFKX	Pioneer Multi Asset	Pair Corr
0.61	PRGEX	Pioneer Global Equity	Pair Corr
0.6	PGEKX	Pioneer Global Equity	Pair Corr
0.54	BALRX	Pioneer Solutions	Pair Corr
0.4	PEQKX	Pioneer Equity Income	Pair Corr
0.67	NXJ	Nuveen New Jersey	Pair Corr
0.66	XNBHX	Neuberger Berman Int	Pair Corr
0.49	XNXJX	Nuveen New Jersey	Pair Corr

Related Correlations Analysis

	PFGKX	PGEKX	BALRX	CERPX	STIIX	STIKX	STRKX	GOF	PIOKX	PMCKX
PFGKX		0.55	-0.03	0.86	-0.39	-0.37	-0.31	0.19	0.67	0.71	PFGKX
PGEKX	0.55		0.49	0.25	-0.17	-0.18	0.28	-0.41	0.83	0.4	PGEKX
BALRX	-0.03	0.49		-0.21	0.32	0.32	0.67	-0.24	0.2	-0.06	BALRX
CERPX	0.86	0.25	-0.21		-0.5	-0.46	-0.59	0.52	0.39	0.67	CERPX
STIIX	-0.39	-0.17	0.32	-0.5		0.96	0.77	-0.35	-0.34	-0.42	STIIX
STIKX	-0.37	-0.18	0.32	-0.46	0.96		0.72	-0.25	-0.36	-0.39	STIKX
STRKX	-0.31	0.28	0.67	-0.59	0.77	0.72		-0.65	-0.06	-0.37	STRKX
GOF	0.19	-0.41	-0.24	0.52	-0.35	-0.25	-0.65		-0.22	0.31	GOF
PIOKX	0.67	0.83	0.2	0.39	-0.34	-0.36	-0.06	-0.22		0.52	PIOKX
PMCKX	0.71	0.4	-0.06	0.67	-0.42	-0.39	-0.37	0.31	0.52		PMCKX
	PFGKX	PGEKX	BALRX	CERPX	STIIX	STIKX	STRKX	GOF	PIOKX	PMCKX

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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

STIKX	+ 0.96	STIIX
CERPX	+ 0.86	PFGKX
PIOKX	+ 0.83	PGEKX
STRKX	+ 0.77	STIIX
STRKX	+ 0.72	STIKX
PMCKX	+ 0.71	PFGKX

High negative correlations

GOF	- 0.65	STRKX
STRKX	- 0.59	CERPX
STIIX	- 0.5	CERPX
STIKX	- 0.46	CERPX
PMCKX	- 0.42	STIIX
GOF	- 0.41	PGEKX

Risk-Adjusted Indicators

There is a big difference between Pioneer Mutual Fund performing well and Pioneer Multi 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 Multi'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
PFGKX	0.60	(0.02)	0.00	(0.20)	0.00	0.00	1.18	(1.20)	6.61
PGEKX	0.59	(0.10)	0.00	(0.84)	0.00	0.00	1.03	(1.19)	7.28
BALRX	0.29	(0.05)	0.00	(0.14)	0.00	0.00	0.67	(0.58)	1.92
CERPX	0.55	0.02	0.00	0.25	0.91	(0.58)	0.93	(0.83)	6.83
STIIX	0.07	(0.02)	0.00	6.21	0.00	0.00	0.11	(0.11)	0.57
STIKX	0.07	(0.02)	0.00	(6.02)	0.00	0.00	0.11	(0.11)	0.56
STRKX	0.22	(0.06)	0.00	10.03	0.00	0.00	0.41	(0.63)	1.25
GOF	0.38	0.04	0.04	0.30	0.57	(0.37)	0.93	(0.84)	3.10
PIOKX	0.79	(0.16)	0.00	(0.16)	0.00	0.00	1.17	(1.39)	14.25
PMCKX	0.67	(0.03)	0.00	(0.23)	0.00	0.00	1.15	(0.90)	10.74

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