Copeland Smid Correlations

CSDGX Fund

USD 14.56 0.14 0.95%

The current 90-days correlation between Copeland Smid Cap and Scharf Balanced Opportunity is 0.66 (i.e., Poor diversification). The correlation of Copeland 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.

Copeland Smid Correlation With Market

Poor diversification

The correlation between Copeland Smid Cap and DJI is 0.79 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Copeland 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 Copeland 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 Copeland Mutual Fund

0.65	CDCRX	Copeland Risk Managed	Pair Corr
0.65	CDGRX	Copeland Risk Managed	Pair Corr
0.9	CDIVX	Copeland Risk Managed	Pair Corr
0.92	CSMDX	Copeland Smid Cap	Pair Corr
0.92	VSMAX	Vanguard Small Cap	Pair Corr
0.72	VSCIX	Vanguard Small Cap	Pair Corr
0.93	VSCPX	Vanguard Small Cap	Pair Corr
0.72	NAESX	Vanguard Small Cap	Pair Corr
0.91	FSSNX	Fidelity Small Cap	Pair Corr
0.93	DFSTX	Us Small Cap	Pair Corr
0.64	PASVX	T Rowe Price	Pair Corr
0.91	PRVIX	T Rowe Price	Pair Corr
0.98	TRZVX	T Rowe Price	Pair Corr
0.71	MLXCX	Catalyst Mlp Infrast	Pair Corr

Moving against Copeland Mutual Fund

0.54	BTMPX	Ishares Msci Eafe	Pair Corr
0.31	CSIIX	Columbia Small Cap	Pair Corr
0.64	PBDPX	Pimco Investment Grade	Pair Corr
0.58	ETSIX	Eaton Vance Short	Pair Corr
0.58	UIINX	Income Fund Income	Pair Corr
0.51	NWHMX	Nationwide Bailard	Pair Corr
0.5	BTMKX	Blackrock International	Pair Corr
0.36	MDIIX	Blackrock Intern Index	Pair Corr
0.74	QGMNX	Aqr Global Macro	Pair Corr
0.7	MWLIX	Metropolitan West Low	Pair Corr

Related Correlations Analysis

	LOGBX	CCMSX	AUERX	MFTNX	SGLIX	REMVX	XHYIX
LOGBX		0.0	0.17	0.07	0.38	0.68	0.3	LOGBX
CCMSX	0.0		0.0	0.0	0.0	0.0	0.0	CCMSX
AUERX	0.17	0.0		0.46	0.46	-0.23	0.52	AUERX
MFTNX	0.07	0.0	0.46		0.07	-0.33	0.49	MFTNX
SGLIX	0.38	0.0	0.46	0.07		0.25	0.59	SGLIX
REMVX	0.68	0.0	-0.23	-0.33	0.25		-0.1	REMVX
XHYIX	0.3	0.0	0.52	0.49	0.59	-0.1		XHYIX
	LOGBX	CCMSX	AUERX	MFTNX	SGLIX	REMVX	XHYIX

Click cells to compare fundamentals

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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

REMVX	+ 0.68	LOGBX
XHYIX	+ 0.59	SGLIX
XHYIX	+ 0.52	AUERX
XHYIX	+ 0.49	MFTNX
MFTNX	+ 0.46	AUERX
SGLIX	+ 0.46	AUERX

High negative correlations

REMVX	- 0.33	MFTNX
REMVX	- 0.23	AUERX
XHYIX	- 0.1	REMVX
XHYIX	- 0.0	CCMSX
REMVX	- 0.0	CCMSX
SGLIX	- 0.0	CCMSX

Risk-Adjusted Indicators

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

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
LOGBX	0.51	0.01	0.00	(0.06)	0.00	0.00	0.83	(1.17)	4.19
CCMSX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
AUERX	1.15	(0.33)	0.00	(0.50)	0.00	0.00	1.57	(2.36)	19.53
MFTNX	1.21	(0.08)	0.00	9.38	0.00	0.00	2.42	(2.46)	6.83
SGLIX	0.81	(0.26)	0.00	(4.87)	0.00	0.00	0.97	(0.97)	18.08
REMVX	0.79	0.06	0.14	(2.35)	0.92	(0.87)	1.67	(1.56)	5.76
XHYIX	0.16	(0.04)	0.00	1.15	0.00	0.00	0.25	(0.49)	1.31

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