Plumb Balanced Correlations

PLBBX Fund

USD 40.84 0.39 0.95%

The current 90-days correlation between Plumb Balanced and Plumb Equity Fund is 0.98 (i.e., Almost no diversification). The correlation of Plumb Balanced 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.

Plumb Balanced Correlation With Market

Poor diversification

The correlation between Plumb Balanced Fund and DJI is 0.77 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Plumb Balanced 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 Plumb Balanced 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 bureau of labor statistics.

Moving together with Plumb Mutual Fund

1.0	PLBEX	Plumb Equity	Pair Corr
0.96	PLABX	Plumb Balanced	Pair Corr
0.91	PLAEX	Plumb Equity	Pair Corr
1.0	PLIBX	Plumb Balanced	Pair Corr
1.0	PLIEX	Plumb Equity	Pair Corr
0.82	FBONX	American Funds American	Pair Corr
0.82	FBAFX	American Funds American	Pair Corr
0.88	ABALX	American Balanced	Pair Corr
0.81	BALCX	American Balanced	Pair Corr
0.88	BALFX	American Balanced	Pair Corr
0.81	RLBCX	American Balanced	Pair Corr
0.86	RLBBX	American Balanced	Pair Corr
0.88	CLBAX	American Balanced	Pair Corr
0.87	CLBEX	American Balanced	Pair Corr
0.82	RLBFX	American Balanced	Pair Corr
0.76	FTCAX	Templeton Strained Bond	Pair Corr
0.88	PYARX	Payden Absolute Return	Pair Corr
0.85	BCAAX	Brandywineglobal C	Pair Corr
0.91	MLUFX	Massmutual Select Mid	Pair Corr
0.83	JHEIX	Equity Income	Pair Corr
0.95	CMGIX	Blackrock Mid Cap	Pair Corr
0.87	FTQGX	Fidelity Focused Stock	Pair Corr
0.94	FIVUX	First Investors Oppo	Pair Corr
0.66	HIX	Western Asset High	Pair Corr
0.92	WCPSX	Mobile Telecommunicatio Steady Growth	Pair Corr
0.91	BTCVX	Cboe Vest Bitcoin	Pair Corr
0.71	NEXTX	Shelton Green Alpha	Pair Corr
0.86	FGB	First Trust Specialty	Pair Corr
0.98	VTSAX	Vanguard Total Stock	Pair Corr
0.9	KNPAX	Kinetics Paradigm	Pair Corr
0.8	TNHIX	1290 High Yield	Pair Corr
0.84	FMAGX	Fidelity Magellan	Pair Corr
0.86	RNGHX	New Economy Fund	Pair Corr

Moving against Plumb Mutual Fund

0.94	USPSX	Profunds Ultrashort	Pair Corr
0.94	USPIX	Profunds Ultrashort	Pair Corr
0.95	UIPIX	Ultrashort Mid Cap	Pair Corr

Related Correlations Analysis

	PLBEX	VLAAX	SIBAX	PTIAX	CBLAX
PLBEX		0.8	0.96	-0.48	0.46	PLBEX
VLAAX	0.8		0.8	0.0	0.47	VLAAX
SIBAX	0.96	0.8		-0.37	0.39	SIBAX
PTIAX	-0.48	0.0	-0.37		-0.1	PTIAX
CBLAX	0.46	0.47	0.39	-0.1		CBLAX
	PLBEX	VLAAX	SIBAX	PTIAX	CBLAX

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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

SIBAX	+ 0.96	PLBEX
VLAAX	+ 0.8	PLBEX
SIBAX	+ 0.8	VLAAX
CBLAX	+ 0.47	VLAAX
CBLAX	+ 0.46	PLBEX
CBLAX	+ 0.39	SIBAX

High negative correlations

PTIAX	- 0.48	PLBEX
PTIAX	- 0.37	SIBAX
CBLAX	- 0.1	PTIAX
PTIAX	- 0.0	VLAAX

Risk-Adjusted Indicators

There is a big difference between Plumb Mutual Fund performing well and Plumb Balanced 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 Plumb Balanced'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
PLBEX	0.68	0.02	0.01	0.12	0.77	(0.72)	1.30	(1.43)	4.63
VLAAX	0.41	0.02	(0.13)	0.25	0.47	(0.44)	1.00	(0.93)	2.22
SIBAX	0.39	0.03	(0.04)	0.16	0.33	(0.43)	0.92	(0.71)	2.77
PTIAX	0.23	(0.04)	0.00	1.48	0.00	0.00	0.46	(0.55)	1.31
CBLAX	0.41	(0.09)	0.00	(0.07)	0.00	0.00	0.75	(0.66)	7.15

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