Small Company Correlations

Mutual Funds . USA . 
Fund . Small Pany Fund
ASCQX Fund  USD 14.98  0.34  2.32%   
The current 90-days correlation between Small Pany Fund and Calvert Moderate Allocation is 0.91 (i.e., Almost no diversification). The correlation of Small Company 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 Company Correlation With Market

Poor diversification

The correlation between Small Pany 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 Small Pany Fund 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 Pany 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 producer price index.

Moving together with Small Mutual Fund

  0.94AMEIX Equity GrowthPairCorr
  0.88AMGIX Income GrowthPairCorr
  0.96TWCCX Ultra Fund CPairCorr
  0.96TWCAX Select Fund APairCorr
  0.96TWCIX Select Fund InvestorPairCorr
  0.96TWCGX Growth Fund InvestorPairCorr
  0.95TWBIX Balanced Fund InvestorPairCorr
  0.94TWCUX Ultra Fund InvestorPairCorr
  0.96TWGIX Growth Fund IPairCorr
  0.66TWGGX Global GrowthPairCorr
  0.91TWHIX Heritage Fund InvestorPairCorr
  0.95TWRCX Growth Fund CPairCorr
  0.65TWSCX Strategic Allocation:PairCorr
  0.78TWSAX Strategic Allocation:PairCorr
  0.75TWSMX Strategic Allocation:PairCorr
  0.96TWSIX Select Fund IPairCorr
  0.96TWUAX Ultra Fund APairCorr
  0.97TWUIX Ultra Fund IPairCorr

Moving against Small Mutual Fund

  0.7TWAVX Short Term GovernmentPairCorr
  0.69TWACX Short Term GovernmentPairCorr
  0.68TWARX Short Term GovernmentPairCorr
  0.35CDBCX Diversified BondPairCorr
  0.7TWUSX Short Term GovernmentPairCorr
  0.7TWUOX Short Term GovernmentPairCorr

Related Correlations Analysis

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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   
HRAFX
+ 0.97
CMACX
WILCX
+ 0.93
MAIJX
QGRIX
+ 0.88
CMACX
TAAKX
+ 0.87
CMACX
QGRIX
+ 0.86
HRAFX
UPAAX
+ 0.85
HRAFX
  
High negative correlations   
MAIJX
- 0.09
TAAKX
UPAAX
- 0.04
MAIJX
WILCX
- 0.02
UPAAX

Risk-Adjusted Indicators

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