Plumb Equity Correlations

Mutual Funds . USA . 
Fund . Plumb Equity Fund
PLBEX Fund  USD 31.70  0.46  1.43%   
The current 90-days correlation between Plumb Equity and Plumb Balanced Fund is 0.98 (i.e., Almost no diversification). The correlation of Plumb Equity 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 Equity Correlation With Market

Poor diversification

The correlation between Plumb Equity Fund and DJI is 0.72 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Plumb Equity 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 Equity 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 income.

Moving together with Plumb Mutual Fund

  1.0PLBBX Plumb BalancedPairCorr
  0.95PLABX Plumb BalancedPairCorr
  0.91PLAEX Plumb EquityPairCorr
  1.0PLIBX Plumb BalancedPairCorr
  1.0PLIEX Plumb EquityPairCorr
  0.92FAFGX American FundsPairCorr
  0.92FFAFX American FundsPairCorr
  0.92GFACX Growth FundPairCorr
  0.96GFAFX Growth FundPairCorr
  0.96AGTHX Growth FundPairCorr
  0.96CGFFX Growth FundPairCorr
  0.92CGFCX Growth FundPairCorr
  0.92CGFAX Growth FundPairCorr
  0.96CGFEX Growth FundPairCorr
  0.96RGAEX Growth FundPairCorr
  0.65FSMMX Fs Multi StrategyPairCorr
  0.9SPMPX Invesco Steelpath MlpPairCorr
  0.9MLPNX Oppenheimer Steelpath MlpPairCorr
  0.9MLPMX Oppenheimer Steelpath MlpPairCorr
  0.9SPMJX Invesco Steelpath MlpPairCorr
  0.89RNGBX New Economy FundPairCorr
  0.84RNGHX New Economy FundPairCorr
  0.94JHTRX Jpmorgan Hedged EquityPairCorr
  0.97MIEZX Mm Sp 500PairCorr
  0.89BSGLX Long TermPairCorr
  0.97AMGCX Alger Midcap GrowthPairCorr
  0.94GCGIX Goldman Sachs LargePairCorr
  0.96RGAFX Growth FundPairCorr
  0.75CPGAX American Funds GlobalPairCorr
  0.95GMRIX Nationwide Small CapPairCorr

Moving against Plumb Mutual Fund

  0.72BTMPX Ishares Msci EafePairCorr
  0.71BTMKX Blackrock InternationalPairCorr
  0.72MDIIX Blackrock Intern IndexPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Plumb Mutual Fund performing well and Plumb Equity 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 Equity'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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