Conestoga Smid Correlations

Mutual Funds . USA . 
Fund . Conestoga Smid Cap
CCSGX Fund  USD 28.54  0.10  0.35%   
The current 90-days correlation between Conestoga Smid Cap and Conestoga Micro Cap is 0.17 (i.e., Average diversification). The correlation of Conestoga Smid 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 Smid Correlation With Market

Average diversification

The correlation between Conestoga Smid Cap and DJI is 0.14 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Conestoga Smid 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 Smid 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 price.

Moving together with Conestoga Mutual Fund

  0.89CMCMX Conestoga Micro CapPairCorr
  0.89CMIRX Conestoga Micro CapPairCorr
  0.96CCASX Conestoga Small CapPairCorr
  0.96CCALX Conestoga Small CapPairCorr
  0.85CCMMX Conestoga Mid CapPairCorr
  0.85CCMAX Columbia Large CapPairCorr
  0.96CCSMX Conestoga Smid CapPairCorr
  0.94PAMCX T Rowe PricePairCorr
  0.97RRMGX T Rowe PricePairCorr
  0.97TRQZX T Rowe PricePairCorr
  0.97RPMGX T Rowe PricePairCorr
  0.98PRJIX T Rowe PricePairCorr
  0.95PRNHX T Rowe PricePairCorr
  0.98TRUZX T Rowe PricePairCorr
  0.96PCBIX Midcap Fund InstitutionalPairCorr
  0.98PEMGX Midcap Fund ClassPairCorr
  0.96PMBCX Midcap Fund ClassPairCorr
  0.88CAFFX Amcap Fund ClassPairCorr
  0.66PYRLX Payden High IncomePairCorr
  0.74VGENX Vanguard EnergyPairCorr
  0.85JILGX Multimanager LifestylePairCorr
  0.86FSDIX Fidelity StrategicPairCorr
  0.89FTUIX TelecommunicationsPairCorr
  0.93CUSUX Six Circles UnconstrainedPairCorr
  0.87SPE Special OpportunitiesPairCorr
  0.85FPIOX Strategic Advisers IncomePairCorr
  0.92FXAIX Fidelity 500 IndexPairCorr
  0.95LCEYX Invesco DiversifiedPairCorr
  0.69ICTVX Icon UtilitiesPairCorr
  0.92USA Liberty All StarPairCorr
  0.93VFINX Vanguard 500 IndexPairCorr
  0.93VFIAX Vanguard 500 IndexPairCorr
  0.92AMEIX Equity GrowthPairCorr

Moving against Conestoga Mutual Fund

  0.51PFHCX Pacific Funds SmallPairCorr
  0.46NHS Neuberger Berman HighPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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