Pender Real Correlations

PNDIX Fund

10.08 0.01 0.1%

The current 90-days correlation between Pender Real Estate and Transamerica International Small is 0.16 (i.e., Average diversification). The correlation of Pender Real 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.

Pender Real Correlation With Market

Significant diversification

The correlation between Pender Real Estate and DJI is 0.06 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Pender Real Estate 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 Pender Real Estate. 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 inflation.

Moving together with Pender Mutual Fund

0.96	VTSAX	Vanguard Total Stock	Pair Corr
0.96	VFIAX	Vanguard 500 Index	Pair Corr
0.96	VTSMX	Vanguard Total Stock	Pair Corr
0.96	VITSX	Vanguard Total Stock	Pair Corr
0.96	VSTSX	Vanguard Total Stock	Pair Corr
0.96	VSMPX	Vanguard Total Stock	Pair Corr
0.96	VFINX	Vanguard 500 Index	Pair Corr
0.96	VFFSX	Vanguard 500 Index	Pair Corr
0.92	VGTSX	Vanguard Total Inter	Pair Corr
0.92	VTIAX	Vanguard Total Inter	Pair Corr
0.92	PSNSX	Pimco Stocksplus Small	Pair Corr
0.88	GE	GE Aerospace Sell-off Trend	Pair Corr
0.81	BA	Boeing	Pair Corr
0.89	JPM	JPMorgan Chase	Pair Corr
0.75	MRK	Merck Company Aggressive Push	Pair Corr
0.73	BAC	Bank of America Aggressive Push	Pair Corr
0.92	CVX	Chevron Corp	Pair Corr
0.78	CSCO	Cisco Systems	Pair Corr
0.71	HD	Home Depot	Pair Corr
0.93	CAT	Caterpillar	Pair Corr

Moving against Pender Mutual Fund

0.78	PG	Procter Gamble Sell-off Trend	Pair Corr
0.53	KO	Coca Cola Sell-off Trend	Pair Corr
0.45	IBM	International Business	Pair Corr

Related Correlations Analysis

	TISVX	ANTMX	QCSGX	XWDIX	ASCGX	DRSVX
TISVX		0.98	0.93	0.89	0.91	0.92	TISVX
ANTMX	0.98		0.94	0.92	0.94	0.9	ANTMX
QCSGX	0.93	0.94		0.9	0.97	0.95	QCSGX
XWDIX	0.89	0.92	0.9		0.91	0.85	XWDIX
ASCGX	0.91	0.94	0.97	0.91		0.89	ASCGX
DRSVX	0.92	0.9	0.95	0.85	0.89		DRSVX
	TISVX	ANTMX	QCSGX	XWDIX	ASCGX	DRSVX

Risk-Adjusted Indicators

There is a big difference between Pender Mutual Fund performing well and Pender Real 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 Pender Real'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
TISVX	0.56	0.08	0.05	0.22	0.47	(0.62)	1.38	(0.96)	2.95
ANTMX	0.64	0.11	0.10	0.26	0.51	(0.74)	1.46	(1.10)	3.85
QCSGX	0.91	0.08	0.10	0.15	0.83	(1.01)	2.22	(1.48)	4.60
XWDIX	0.17	0.01	(0.15)	0.25	0.30	(0.18)	0.34	(0.53)	1.75
ASCGX	0.96	0.08	0.08	0.16	0.99	(1.05)	2.00	(2.08)	6.48
DRSVX	0.93	0.02	0.05	0.11	0.91	(1.03)	2.20	(2.02)	4.98

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