Conestoga Micro Correlations

Mutual Funds . USA . 
Fund . Conestoga Micro Cap
CMCMX Fund  USD 8.35  0.02  0.24%   
The current 90-days correlation between Conestoga Micro Cap and Global Gold Fund is 0.1 (i.e., Average diversification). The correlation of Conestoga Micro 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 Micro Correlation With Market

Average diversification

The correlation between Conestoga Micro Cap and DJI is 0.12 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Conestoga Micro 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 Micro 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

  0.95CMIRX Conestoga Micro CapPairCorr
  0.88CCASX Conestoga Small CapPairCorr
  0.88CCALX Conestoga Small CapPairCorr
  0.74CCMMX Conestoga Mid CapPairCorr
  0.74CCMAX Columbia Large CapPairCorr
  0.85CCSMX Conestoga Smid CapPairCorr
  0.85CCSGX Conestoga Smid CapPairCorr
  0.84VSGAX Vanguard Small CapPairCorr
  0.84VSGIX Vanguard Small CapPairCorr
  0.84VISGX Vanguard Small CapPairCorr
  0.84VEXPX Vanguard ExplorerPairCorr
  0.84VEXRX Vanguard ExplorerPairCorr
  0.83JGMIX Janus TritonPairCorr
  0.83JGMRX Janus TritonPairCorr
  0.83JGMAX Janus TritonPairCorr
  0.83JGMCX Janus TritonPairCorr
  0.83JGMNX Janus TritonPairCorr
  0.73USA Liberty All StarPairCorr
  0.9SSCCX Small CapitalizationPairCorr
  0.73VEIPX Vanguard Equity IncomePairCorr
  0.88GSCYX Small Cap EquityPairCorr
  0.69NDMSX Nationwide InvestorPairCorr
  0.74TUHYX T Rowe PricePairCorr
  0.68JFRNX Janus Forty FundPairCorr
  0.72FCLCX Fidelity Advisor IndPairCorr
  0.87JVAIX Jpmorgan Value AdvantagePairCorr

Related Correlations Analysis

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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   
FRGOX
+ 0.99
INIVX
IOGYX
+ 0.98
INIVX
FRGOX
+ 0.98
IOGYX
FRGOX
+ 0.95
AGGWX
INIVX
+ 0.94
AGGWX
IOGYX
+ 0.93
AGGWX
  
High negative correlations   
GLRBX
- 0.22
GCEBX
GDICX
- 0.05
INIVX
FRGOX
- 0.0
GDICX
GDICX
- 0.0
AGGWX

Risk-Adjusted Indicators

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