Small Company Correlations

Mutual Funds . USA . 
Fund . Small Pany Fund
FOSCX Fund  USD 28.04  0.23  0.81%   
The current 90-days correlation between Small Pany Fund and International Fund International is -0.08 (i.e., Good 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 Fund 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 Small Pany Fund 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 Fund. 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 main economic indicators.

Moving together with Small Mutual Fund

  0.99FSMBX Tributary Smallmid CapPairCorr
  0.96FSMCX Tributary Smallmid CapPairCorr
  0.87FOBAX Balanced Fund InstitPairCorr
  0.87FOBPX Balanced Fund InstitPairCorr
  1.0FOSBX Small Pany FundPairCorr
  0.94VSMAX Vanguard Small CapPairCorr
  0.98VSCIX Vanguard Small CapPairCorr
  0.98VSCPX Vanguard Small CapPairCorr
  0.98NAESX Vanguard Small CapPairCorr
  0.99FSSNX Fidelity Small CapPairCorr
  0.99DFSTX Us Small CapPairCorr
  0.97PASVX T Rowe PricePairCorr
  0.97PRVIX T Rowe PricePairCorr
  0.97TRZVX T Rowe PricePairCorr
  0.87PRSVX T Rowe PricePairCorr
  0.63SPGSX State Street PremierPairCorr

Moving against Small Mutual Fund

  0.76FOSIX Short Intermediate BondPairCorr
  0.76FOSPX Short Intermediate BondPairCorr
  0.67FOIPX Income Fund InstitutionalPairCorr
  0.67FOINX Income Fund InstitutionalPairCorr
  0.39FONPX Tributary Nebraska TaxPairCorr
  0.73VIITX Vanguard InstitutionalPairCorr
  0.69PRGMX T Rowe PricePairCorr
  0.6VEMBX Vanguard Emerging MarketsPairCorr
  0.6ISD Pgim High YieldPairCorr
  0.59FPPAX Mfs Prudent InvestorPairCorr
  0.54VMSIX Vanguard Multi SectorPairCorr
  0.49NEZYX Loomis Sayles StrategicPairCorr
  0.44KF Korea ClosedPairCorr
  0.44HSXIX Hartford SchrodersPairCorr
  0.43BRUFX Bruce Fund BrucePairCorr
  0.39VEMAX Vanguard Emerging MarketsPairCorr

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   
FOBAX
+ 0.88
PARMX
GTLLX
+ 0.74
PARMX
GTLLX
+ 0.64
FOBAX
FOSIX
+ 0.49
FMIJX
FOBAX
+ 0.34
FMIJX
PARMX
+ 0.33
FMIJX
  
High negative correlations   
FOSIX
- 0.49
FOBAX
FOSIX
- 0.43
PARMX
GTLLX
- 0.3
FOSIX

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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