Plumb Balanced Correlations

PLBBX
 Fund
  

USD 27.91  0.23  0.82%   

The correlation of Plumb Balanced is a statistical measure of how it moves in relation to other equities. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Plumb Balanced moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Plumb Balanced moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
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The ability to find closely correlated positions to Plumb Balanced could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Plumb Balanced when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Plumb Balanced - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Plumb Balanced to buy it.

Moving together with Plumb Balanced

+0.96BALCXAmerican BalancedPairCorr
+0.96RLBBXAmerican BalancedPairCorr
+0.96RLEFXAmerican BalancedPairCorr
+0.96ABALXAmerican BalancedPairCorr
+0.96RLBCXAmerican BalancedPairCorr
+0.96CLBAXAmerican BalancedPairCorr
+0.96CLBEXAmerican BalancedPairCorr
+0.96RLBFXAmerican BalancedPairCorr
+0.96RLBEXAmerican BalancedPairCorr
+0.96RLBGXAmerican BalancedPairCorr

Moving against Plumb Balanced

-0.92GPMFXGuidepath Managed FuturesPairCorr
-0.79LOTCXLocorr Market TrendPairCorr
-0.79LOTAXLocorr Market TrendPairCorr
-0.79PQTNXPimco Trends ManagedPairCorr

Related Correlations

IIGV
SCCPX
LOCNX
JHCB
FSIG
MIG
LOCAX
IIGV
0.980.960.990.971.00.96
IIGV
SCCPX
0.980.940.990.950.990.94
SCCPX
LOCNX
0.960.940.970.970.961.0
LOCNX
JHCB
0.990.990.970.971.00.97
JHCB
FSIG
0.970.950.970.970.970.97
FSIG
MIG
1.00.990.961.00.970.96
MIG
LOCAX
0.960.941.00.970.970.96
LOCAX
IIGV
SCCPX
LOCNX
JHCB
FSIG
MIG
LOCAX
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Correlation Matchups

The Correlation Coefficient is a useful tool to identify correlated or non-correlated securities, which is essential in developing a diversified portfolio. It tells us the relationship between two positions you have in your portfolio or considering acquiring. Over a given time period, the two securities movetogether 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   
MIGIIGV
LOCAXLOCNX
MIGJHCB
JHCBIIGV
JHCBSCCPX
MIGSCCPX
  

Plumb Balanced Competition Risk-Adjusted Indicators

Nowadays, there is a big difference between Plumb Mutual Fund performing well and Plumb Balanced Mutual Fund doing well compared to the competition. There are way too many exceptions to the normal that investors can tell for sure what's good or bad unless they analyze Plumb Balanced's multiple risk-adjusted performance indicators. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

Be your own money manager

Our tools can tell you how much better you can do entering a position in Plumb Balanced without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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Invested in Plumb Balanced?

The danger of trading Plumb Balanced is mainly related to its market volatility and Mutual Fund specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of Plumb Balanced is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than Plumb Balanced. The Shape ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Plumb Balanced is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
Please check Your Equity Center. Note that the Plumb Balanced information on this page should be used as a complementary analysis to other Plumb Balanced's statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try Alpha Finder module to use alpha and beta coefficients to find investment opportunities after accounting for the risk.

Complementary Tools for Plumb Mutual Fund analysis

When running Plumb Balanced price analysis, check to measure Plumb Balanced's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Plumb Balanced is operating at the current time. Most of Plumb Balanced's value examination focuses on studying past and present price action to predict the probability of Plumb Balanced's future price movements. You can analyze the entity against its peers and financial market as a whole to determine factors that move Plumb Balanced's price. Additionally, you may evaluate how the addition of Plumb Balanced to your portfolios can decrease your overall portfolio volatility.
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Please note, there is a significant difference between Plumb Balanced's value and its price as these two are different measures arrived at by different means. Investors typically determine Plumb Balanced value by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Plumb Balanced's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.