Conestoga Mid Correlations

Mutual Funds USA . 
Fund . Conestoga Mid Cap
CCMMX Fund  USD 10.22  0.04  0.39%   
The current 90-days correlation between Conestoga Mid Cap and Conestoga Micro Cap is 0.12 (i.e., Average diversification). The correlation of Conestoga Mid 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 Mid Correlation With Market

Poor diversification

The correlation between Conestoga Mid Cap and DJI is 0.77 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Conestoga Mid 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 Mid 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 population.

Moving together with Conestoga Mutual Fund

  0.74CMCMX Conestoga Micro CapPairCorr
  0.79CMIRX Conestoga Micro CapPairCorr
  0.86CCASX Conestoga Small CapPairCorr
  0.86CCALX Conestoga Small CapPairCorr
  1.0CCMAX Columbia Large CapPairCorr
  0.88CCSMX Conestoga Smid CapPairCorr
  0.87CCSGX Conestoga Smid CapPairCorr
  0.89PAMCX T Rowe PricePairCorr
  0.83RRMGX T Rowe PricePairCorr
  0.83TRQZX T Rowe PricePairCorr
  0.83RPMGX T Rowe PricePairCorr
  0.8PRJIX T Rowe PricePairCorr
  0.83PRNHX T Rowe PricePairCorr
  0.8TRUZX T Rowe PricePairCorr
  0.85PCBIX Midcap Fund InstitutionalPairCorr
  0.79PEMGX Midcap Fund ClassPairCorr
  0.85PMBCX Midcap Fund ClassPairCorr
  0.8CAFFX Amcap Fund ClassPairCorr
  0.65PYRLX Payden High IncomePairCorr
  0.69VGENX Vanguard EnergyPairCorr
  0.83JILGX Multimanager LifestylePairCorr
  0.84FSDIX Fidelity StrategicPairCorr
  0.71FTUIX TelecommunicationsPairCorr
  0.72CUSUX Six Circles UnconstrainedPairCorr
  0.72FPIOX Strategic Advisers IncomePairCorr
  0.71FXAIX Fidelity 500 IndexPairCorr
  0.82LCEYX Invesco DiversifiedPairCorr
  0.64ICTVX Icon UtilitiesPairCorr
  0.8USA Liberty All StarPairCorr
  0.71VFINX Vanguard 500 IndexPairCorr
  0.71VFIAX Vanguard 500 IndexPairCorr
  0.76AMEIX Equity GrowthPairCorr
  0.63RA Brookfield Real AssetsPairCorr

Moving against Conestoga Mutual Fund

  0.38PFHCX Pacific Funds SmallPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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