Small Company Correlations

Mutual Funds . USA . 
Fund . Small Pany Growth
DTSGX Fund  USD 15.44  0.05  0.32%   
The current 90-days correlation between Small Pany Growth and Small Pany Value is 0.87 (i.e., Very poor diversification). The correlation of Small Company 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.

Small Company Correlation With Market

Poor diversification

The correlation between Small Pany Growth and DJI is 0.73 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Small Pany Growth and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Small Pany 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 Small Mutual Fund

  0.95WSMGX Small Pany GrowthPairCorr
  0.99WSMVX Small Pany ValuePairCorr
  0.95WFIVX Wilshire 5000 IndexPairCorr
  0.95WINDX Wilshire 5000 IndexPairCorr
  0.97WLCGX Large Pany GrowthPairCorr
  0.67WLCVX Large Pany ValuePairCorr
  0.97DTLGX Wilshire LargePairCorr
  0.67DTLVX Large Pany ValuePairCorr
  0.99DTSVX Small Pany ValuePairCorr
  0.74VSGAX Vanguard Small CapPairCorr
  1.0VSGIX Vanguard Small CapPairCorr
  1.0VISGX Vanguard Small CapPairCorr
  0.95VEXPX Vanguard ExplorerPairCorr
  0.87VEXRX Vanguard ExplorerPairCorr
  0.98JGMIX Janus TritonPairCorr
  0.98JGMRX Janus TritonPairCorr
  0.79JGMAX Janus TritonPairCorr
  0.98JGMCX Janus TritonPairCorr
  0.97JGMNX Janus TritonPairCorr
  0.68MLXCX Catalyst Mlp Infrast Steady GrowthPairCorr

Moving against Small Mutual Fund

  0.67WIORX Wilshire Income OpportPairCorr
  0.67WIOPX Wilshire Income OpportPairCorr
  0.56WLCTX Wilshire InternationalPairCorr
  0.56WLTTX Wilshire InternationalPairCorr
  0.7TGROX Tiaa Cref GreenPairCorr
  0.63WLATTX WlattxPairCorr
  0.6PRGMX T Rowe PricePairCorr
  0.58DIMIX Dreyfus Short IntermPairCorr
  0.57TTEEX T Rowe PricePairCorr
  0.53NWHMX Nationwide BailardPairCorr
  0.5MINHX Mfs International ValuePairCorr
  0.41LAIIX Lord Abbett IntermediatePairCorr
  0.4VEMAX Vanguard Emerging MarketsPairCorr
  0.36TREMX T Rowe PricePairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Small Mutual Fund performing well and Small Company 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 Small Company'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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