Tributary Small/mid Correlations

FSMBX Fund

USD 15.74 0.09 0.57%

The current 90-days correlation between Tributary Smallmid Cap and Transamerica Financial Life is -0.01 (i.e., Good diversification). The correlation of Tributary Small/mid 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.

Tributary Small/mid Correlation With Market

Good diversification

The correlation between Tributary Smallmid Cap and DJI is -0.09 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Tributary Smallmid Cap 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 Tributary Smallmid 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 bureau of labor statistics.

Moving together with Tributary Mutual Fund

1.0	FSMCX	Tributary Smallmid Cap	Pair Corr
0.82	FOBAX	Balanced Fund Instit	Pair Corr
0.82	FOBPX	Balanced Fund Instit	Pair Corr
0.96	FOSCX	Small Pany Fund	Pair Corr
0.96	FOSBX	Small Pany Fund	Pair Corr
0.94	VSMAX	Vanguard Small Cap	Pair Corr
0.94	VSCIX	Vanguard Small Cap	Pair Corr
0.94	VSCPX	Vanguard Small Cap	Pair Corr
0.94	NAESX	Vanguard Small Cap	Pair Corr
0.94	FSSNX	Fidelity Small Cap	Pair Corr
0.95	DFSTX	Us Small Cap	Pair Corr
0.91	PASVX	T Rowe Price	Pair Corr
0.91	PRVIX	T Rowe Price	Pair Corr
0.9	TRZVX	T Rowe Price	Pair Corr
0.91	PRSVX	T Rowe Price	Pair Corr

Moving against Tributary Mutual Fund

0.77	FOSIX	Short Intermediate Bond	Pair Corr
0.77	FOSPX	Short Intermediate Bond	Pair Corr
0.74	FOIPX	Income Fund Institutional	Pair Corr
0.74	FOINX	Income Fund Institutional	Pair Corr
0.41	FONPX	Tributary Nebraska Tax	Pair Corr
0.75	FICMX	Federated Government	Pair Corr
0.74	FAUDX	Strategic Advisers Short	Pair Corr
0.72	ITBIX	Hartford Total	Pair Corr
0.7	TGROX	Tiaa Cref Green	Pair Corr
0.69	PEGBX	Pimco Esg Income	Pair Corr
0.67	PDINX	Putnam Diversified Income	Pair Corr
0.59	PFN	Pimco Income Strategy	Pair Corr
0.59	MRJIX	Real Assets Portfolio	Pair Corr
0.43	PCF	Putnam High Income	Pair Corr
0.42	MHOIX	Mfs Global High	Pair Corr
0.38	XPPRX	Voya Prime Rate	Pair Corr

Related Correlations Analysis

	IAAEX	GCFSX	SMAAX	FIKBX	AEYXX	QCMMIX
IAAEX		0.19	0.13	0.47	0.0	-0.18	IAAEX
GCFSX	0.19		0.77	0.39	0.0	0.75	GCFSX
SMAAX	0.13	0.77		0.23	0.0	0.59	SMAAX
FIKBX	0.47	0.39	0.23		0.0	-0.19	FIKBX
AEYXX	0.0	0.0	0.0	0.0		0.0	AEYXX
QCMMIX	-0.18	0.75	0.59	-0.19	0.0		QCMMIX
	IAAEX	GCFSX	SMAAX	FIKBX	AEYXX	QCMMIX

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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

SMAAX	+ 0.77	GCFSX
QCMMIX	+ 0.75	GCFSX
QCMMIX	+ 0.59	SMAAX
FIKBX	+ 0.47	IAAEX
FIKBX	+ 0.39	GCFSX
FIKBX	+ 0.23	SMAAX

High negative correlations

QCMMIX	- 0.19	FIKBX
QCMMIX	- 0.18	IAAEX
QCMMIX	- 0.0	AEYXX
AEYXX	- 0.0	FIKBX
AEYXX	- 0.0	SMAAX
AEYXX	- 0.0	GCFSX

Risk-Adjusted Indicators

There is a big difference between Tributary Mutual Fund performing well and Tributary Small/mid 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 Tributary Small/mid'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
IAAEX	0.81	(0.11)	0.00	(0.26)	0.00	0.00	1.41	(1.48)	9.17
GCFSX	0.75	0.04	0.07	(0.41)	1.04	(0.76)	1.80	(2.41)	4.68
SMAAX	0.13	(0.02)	0.00	(0.99)	0.00	0.00	0.20	(0.39)	0.90
FIKBX	0.91	(0.03)	0.00	(0.07)	0.00	0.00	1.73	(2.69)	6.29
AEYXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
QCMMIX	0.02	0.01	0.00	(3.86)	0.00	0.00	0.03	0.00	0.03

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