Conestoga Small Correlations

Mutual Funds . USA . 
Fund . Conestoga Small Cap
CCALX Fund  USD 71.03  0.35  0.49%   
The current 90-days correlation between Conestoga Small Cap and Conestoga Small Cap is 1.0 (i.e., No risk reduction). The correlation of Conestoga 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.

Conestoga Small Correlation With Market

Poor diversification

The correlation between Conestoga Small Cap and DJI is 0.66 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Conestoga 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 Conestoga 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 bureau of economic analysis.

Moving together with Conestoga Mutual Fund

  0.88CMCMX Conestoga Micro CapPairCorr
  0.88CMIRX Conestoga Micro CapPairCorr
  1.0CCASX Conestoga Small CapPairCorr
  0.96CCSMX Conestoga Smid CapPairCorr
  0.96CCSGX Conestoga Smid CapPairCorr
  0.96VSGAX Vanguard Small CapPairCorr
  0.96VSGIX Vanguard Small CapPairCorr
  0.96VISGX Vanguard Small CapPairCorr
  0.95VEXPX Vanguard ExplorerPairCorr
  0.95VEXRX Vanguard ExplorerPairCorr
  0.91JGMIX Janus TritonPairCorr
  0.91JGMRX Janus TritonPairCorr
  0.91JGMAX Janus TritonPairCorr
  0.91JGMCX Janus TritonPairCorr
  0.9JGMNX Janus TritonPairCorr
  0.87GPMFX Guidepath Managed FuturesPairCorr
  0.66PQTAX Pimco Trends ManagedPairCorr
  0.66PQTNX Pimco Trends ManagedPairCorr
  0.65PQTIX Aa Pimco TrPairCorr

Moving against Conestoga Mutual Fund

  0.92GAAKX Gmo Alternative AlloPairCorr
  0.92GAAGX Gmo Alternative AlloPairCorr
  0.86VSGDX Vanguard Short TermPairCorr
  0.85CIHCX Cullen International HighPairCorr
  0.83BISMX Brandes InternationalPairCorr
  0.82MFAAX American Funds MortgagePairCorr
  0.82LIRRX Lord Abbett InternationalPairCorr
  0.81GPBFX Gmo E PlusPairCorr
  0.72VMLTX Vanguard Limited TermPairCorr
  0.7FGDIX Fidelity Advisor GoldPairCorr
  0.69DLDFX Destinations Low DurationPairCorr
  0.46WARCX Wells Fargo AdvantagePairCorr
  0.44VGWAX Vanguard Global WellPairCorr
  0.86TASTX Transamerica Short TermPairCorr
  0.81ARBOX Absolute ConvertiblePairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Conestoga Mutual Fund performing well and Conestoga 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 Conestoga 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.

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