Adirondack Small Correlations

ADKSX Fund

USD 32.76 0.08 0.24%

The current 90-days correlation between Adirondack Small Cap and Transamerica Financial Life is 0.86 (i.e., Very poor diversification). The correlation of Adirondack Small 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.

Adirondack Small Correlation With Market

Very poor diversification

The correlation between Adirondack Small Cap and DJI is 0.88 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Adirondack Small Cap and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Adirondack Small Cap. 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 state.

Moving together with Adirondack Mutual Fund

0.93	VSIIX	Vanguard Small Cap	Pair Corr
0.97	VISVX	Vanguard Small Cap	Pair Corr
0.98	DFSVX	Us Small Cap	Pair Corr
0.98	DFFVX	Us Targeted Value	Pair Corr
0.96	UBVCX	Undiscovered Managers	Pair Corr
0.97	UBVAX	Undiscovered Managers	Pair Corr
0.97	UBVSX	Undiscovered Managers	Pair Corr
0.97	AVFIX	American Beacon Small	Pair Corr
0.93	ASTZX	Astor Long/short	Pair Corr
0.94	AMGOX	Alger Mid Cap	Pair Corr
0.87	WWLAX	Westwood Largecap Value	Pair Corr
0.79	FCNTX	Fidelity Contrafund	Pair Corr
0.68	JHYFX	Janus High Yield	Pair Corr
0.69	RSGGX	Victory Rs Global	Pair Corr
0.85	VFINX	Vanguard 500 Index	Pair Corr
0.87	PCWPX	Strategic Asset Mana	Pair Corr
0.89	MIEYX	Mm Sp 500	Pair Corr
0.87	SPXUX	Wisdomtree Digital Trust	Pair Corr
0.92	BPIRX	Boston Partners Longshort	Pair Corr
0.64	RRTCX	T Rowe Price	Pair Corr
0.92	TRLCX	Tiaa-cref Large-cap	Pair Corr
0.93	FLACX	Fidelity Stock Selector	Pair Corr
0.91	FSKAX	Fidelity Total Market	Pair Corr
0.92	VIPAX	Index Plus Largecap	Pair Corr
0.82	FLCNX	Fidelity Contrafund	Pair Corr
0.77	PFRIX	Prudential Floating Rate	Pair Corr

Moving against Adirondack Mutual Fund

0.51	NHS	Neuberger Berman High	Pair Corr
0.44	PFHCX	Pacific Funds Small	Pair Corr

Related Correlations Analysis

	IAAEX	MCBXX	FIKBX	XFINX	HILFX	TFIFX	FYSXX
IAAEX		-0.04	0.8	0.4	0.85	0.8	-0.02	IAAEX
MCBXX	-0.04		0.28	0.66	0.19	0.29	0.89	MCBXX
FIKBX	0.8	0.28		0.65	0.97	1.0	0.26	FIKBX
XFINX	0.4	0.66	0.65		0.59	0.66	0.61	XFINX
HILFX	0.85	0.19	0.97	0.59		0.96	0.18	HILFX
TFIFX	0.8	0.29	1.0	0.66	0.96		0.27	TFIFX
FYSXX	-0.02	0.89	0.26	0.61	0.18	0.27		FYSXX
	IAAEX	MCBXX	FIKBX	XFINX	HILFX	TFIFX	FYSXX

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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

TFIFX	+ 1.0	FIKBX
HILFX	+ 0.97	FIKBX
TFIFX	+ 0.96	HILFX
FYSXX	+ 0.89	MCBXX
HILFX	+ 0.85	IAAEX
FIKBX	+ 0.8	IAAEX

High negative correlations

MCBXX	- 0.04	IAAEX
FYSXX	- 0.02	IAAEX

Risk-Adjusted Indicators

There is a big difference between Adirondack Mutual Fund performing well and Adirondack Small 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 Adirondack Small'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
IAAEX	0.54	(0.04)	(0.11)	0.07	0.53	(0.61)	1.03	(0.98)	3.17
MCBXX	0.03	0.01	0.00	(0.12)	0.00	0.00	0.00	0.00	1.01
FIKBX	0.83	0.27	0.17	(2.18)	0.50	(1.03)	1.88	(1.15)	9.76
XFINX	0.11	0.02	(0.25)	0.97	0.13	(0.13)	0.22	(0.14)	1.00
HILFX	1.10	0.08	0.18	0.16	0.72	(1.35)	2.60	(1.60)	13.68
TFIFX	0.80	0.25	0.14	(2.17)	0.53	(0.94)	1.68	(1.29)	8.41
FYSXX	0.03	0.00	0.00	0.47	0.00	0.00	0.00	0.00	1.01

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