The Midcap Correlations

Mutual Funds . USA . 
Fund . The Midcap Growth
CFAGX Fund  USD 42.38  0.04  0.09%   
The current 90-days correlation between Midcap Growth and Alphacentric Lifesci Healthcare is 0.48 (i.e., Very weak diversification). The correlation of The Midcap 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.

The Midcap Correlation With Market

Poor diversification

The correlation between The Midcap Growth and DJI is 0.71 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding The Midcap 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 The Midcap 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 price.

Moving together with The Mutual Fund

  0.93CFGRX Growth FundPairCorr
  0.87CFMVX Commerce Midcap ValuePairCorr
  0.96PAMCX T Rowe PricePairCorr
  0.96RRMGX T Rowe PricePairCorr
  0.96TRQZX T Rowe PricePairCorr
  0.96RPMGX T Rowe PricePairCorr
  0.96PRJIX T Rowe PricePairCorr
  0.96PRNHX T Rowe PricePairCorr
  0.96TRUZX T Rowe PricePairCorr
  0.9PCBIX Midcap Fund InstitutionalPairCorr
  0.9PEMGX Midcap Fund ClassPairCorr
  0.91PMBCX Midcap Fund ClassPairCorr
  0.95CISGX Touchstone Sands CapitalPairCorr

Moving against The Mutual Fund

  0.63CFSTX Short TermPairCorr
  0.5CFBNX Bond FundPairCorr
  0.47UGPIX Ultrachina ProfundPairCorr
  0.47UGPSX Ultrachina ProfundPairCorr
  0.45ARBOX Absolute ConvertiblePairCorr
  0.44EPDPX Europac InternationalPairCorr
  0.44EMBAX Unconstrained EmergingPairCorr
  0.42SAEMX Sa Emerging MarketsPairCorr
  0.67GF New Germany ClosedPairCorr
  0.58VSGDX Vanguard Short TermPairCorr
  0.56USGDX Morgan Stanley GovernmentPairCorr
  0.52PSDNX Putnam Ultra ShortPairCorr
  0.52BISMX Brandes InternationalPairCorr
  0.51VTAPX Vanguard Short TermPairCorr
  0.5HRBDX Harbor Bond FundPairCorr
  0.48ABNOX Ab Bond InflationPairCorr
  0.45VICSX Vanguard Intermediate-terPairCorr
  0.44EBSFX Eubel Brady SuttmanPairCorr
  0.43MEERX Massmutual PremierPairCorr
  0.35GIOIX Guggenheim Macro OppPairCorr
  0.32DLDFX Destinations Low DurationPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between The Mutual Fund performing well and The Midcap 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 The Midcap'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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