Small Cap Correlations

Mutual Funds . USA . 
Fund . Small Cap Growth
ANOYX Fund  USD 24.87  0.04  0.16%   
The current 90-days correlation between Small Cap Growth and Victory Rs Partners is 0.13 (i.e., Average diversification). The correlation of Small Cap 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.

Small Cap Correlation With Market

Very poor diversification

The correlation between Small Cap Growth 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 Small Cap Growth 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 Small Cap Growth. 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 manufacturing.

Moving together with Small Mutual Fund

  0.94AMDVX Mid Cap ValuePairCorr
  0.95AMEIX Equity GrowthPairCorr
  0.92AMGIX Income GrowthPairCorr
  0.95TWADX Value Fund APairCorr
  0.91TWCCX Ultra Fund CPairCorr
  0.9TWCAX Select Fund APairCorr
  0.85TWCIX Select Fund InvestorPairCorr
  0.87TWCGX Growth Fund InvestorPairCorr
  0.94AMVYX Mid Cap ValuePairCorr
  0.93AMVRX Mid Cap ValuePairCorr
  0.77TWBIX Balanced Fund InvestorPairCorr
  0.94AMVGX Mid Cap ValuePairCorr
  0.85TWEAX Equity IncomePairCorr
  0.92TWEIX Equity IncomePairCorr
  0.92TWCUX Ultra Fund InvestorPairCorr
  0.92TWGIX Growth Fund IPairCorr
  0.94TWHIX Heritage Fund InvestorPairCorr
  0.92TWRCX Growth Fund CPairCorr
  0.8TWSCX Strategic Allocation:PairCorr
  0.91TWSAX Strategic Allocation:PairCorr
  0.89TWSMX Strategic Allocation:PairCorr
  0.9TWSIX Select Fund IPairCorr
  0.89TWVLX Value Fund InvestorPairCorr
  0.91TWUAX Ultra Fund APairCorr
  0.92TWUIX Ultra Fund IPairCorr
  0.7NPHIX High Income FundPairCorr

Moving against Small Mutual Fund

  0.62CDBCX Diversified BondPairCorr
  0.61TWACX Short Term GovernmentPairCorr
  0.59TWAVX Short Term GovernmentPairCorr
  0.57TWARX Short Term GovernmentPairCorr
  0.5TWUSX Short Term GovernmentPairCorr
  0.49TWGAX International GrowthPairCorr
  0.49TWIEX International GrowthPairCorr
  0.32TWTCX Intermediate Term TaxPairCorr
  0.69ANTUX Nt Non IntrinsicPairCorr
  0.56TWUOX Short Term GovernmentPairCorr
  0.39ANTSX Nt International SmallPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Small Mutual Fund performing well and Small Cap 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 Small Cap'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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