Champlain Small Correlations

CIPNX Fund

USD 21.22 0.06 0.28%

The current 90-days correlation between Champlain Small and The Hartford Midcap is -0.2 (i.e., Good diversification). The correlation of Champlain 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.

Champlain Small Correlation With Market

Poor diversification

The correlation between Champlain Small 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 Champlain Small 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 Champlain Small. 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 board of governors.

Moving together with Champlain Mutual Fund

0.98	CIPMX	Champlain Mid Cap	Pair Corr
0.98	CIPIX	Champlain Mid Cap	Pair Corr
0.97	VSGAX	Vanguard Small Cap	Pair Corr
0.97	VSGIX	Vanguard Small Cap	Pair Corr
0.97	VISGX	Vanguard Small Cap	Pair Corr
0.94	VEXPX	Vanguard Explorer	Pair Corr
0.83	VEXRX	Vanguard Explorer	Pair Corr
0.99	JGMIX	Janus Triton	Pair Corr
0.99	JGMRX	Janus Triton	Pair Corr
0.91	JGMAX	Janus Triton	Pair Corr
0.99	JGMCX	Janus Triton	Pair Corr
0.99	JGMNX	Janus Triton	Pair Corr
0.98	VTSAX	Vanguard Total Stock	Pair Corr
0.98	VFIAX	Vanguard 500 Index	Pair Corr
0.98	VTSMX	Vanguard Total Stock	Pair Corr
0.98	VSMPX	Vanguard Total Stock	Pair Corr
0.98	VSTSX	Vanguard Total Stock	Pair Corr
0.98	VITSX	Vanguard Total Stock	Pair Corr
0.98	VFINX	Vanguard 500 Index	Pair Corr
0.98	VFFSX	Vanguard 500 Index	Pair Corr

Moving against Champlain Mutual Fund

0.64	TRIGX	T Rowe Price	Pair Corr
0.61	BRAMX	Bats Series M	Pair Corr
0.59	ACCSX	Access Capital Munity	Pair Corr
0.43	MINFX	Mfs International Value	Pair Corr
0.42	VGTSX	Vanguard Total Inter	Pair Corr
0.42	VTIAX	Vanguard Total Inter	Pair Corr
0.42	VTMGX	Vanguard Developed	Pair Corr
0.4	VMSIX	Vanguard Multi Sector	Pair Corr
0.38	FPPAX	Mfs Prudent Investor	Pair Corr
0.32	HSXIX	Hartford Schroders	Pair Corr
0.71	HIO	Western Asset High	Pair Corr
0.65	FXIDX	Fixed Income Shares	Pair Corr

Related Correlations Analysis

	HFMIX	MEDIX	WFMIX	WMFFX	BEXIX
HFMIX		-0.37	0.69	0.63	-0.36	HFMIX
MEDIX	-0.37		-0.43	0.2	0.68	MEDIX
WFMIX	0.69	-0.43		0.61	-0.41	WFMIX
WMFFX	0.63	0.2	0.61		0.09	WMFFX
BEXIX	-0.36	0.68	-0.41	0.09		BEXIX
	HFMIX	MEDIX	WFMIX	WMFFX	BEXIX

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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

WFMIX	+ 0.69	HFMIX
BEXIX	+ 0.68	MEDIX
WMFFX	+ 0.63	HFMIX
WMFFX	+ 0.61	WFMIX
WMFFX	+ 0.2	MEDIX
BEXIX	+ 0.09	WMFFX

High negative correlations

WFMIX	- 0.43	MEDIX
BEXIX	- 0.41	WFMIX
MEDIX	- 0.37	HFMIX
BEXIX	- 0.36	HFMIX

Risk-Adjusted Indicators

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

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
HFMIX	1.20	(0.21)	0.00	1.07	0.00	0.00	1.77	(2.67)	5.84
MEDIX	0.19	0.04	0.42	0.52	0.00	(0.25)	0.50	(0.33)	1.10
WFMIX	0.64	(0.05)	0.00	3.30	0.00	0.00	1.18	(1.18)	2.75
WMFFX	0.64	0.03	0.00	(0.02)	0.00	0.00	1.21	(1.35)	3.26
BEXIX	0.84	0.09	0.11	0.15	1.10	(0.84)	1.74	(1.68)	6.68

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