Tributary Small/mid Correlations

FSMCX Fund

USD 18.30 0.03 0.16%

The current 90-days correlation between Tributary Smallmid Cap and Blackrock Health Sciences is 0.22 (i.e., Modest 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

Significant diversification

The correlation between Tributary Smallmid Cap and DJI is 0.08 (i.e., Significant 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 main economic indicators.

Moving together with Tributary Mutual Fund

0.82	VSMAX	Vanguard Small Cap	Pair Corr
0.96	VSCIX	Vanguard Small Cap	Pair Corr
0.96	VSCPX	Vanguard Small Cap	Pair Corr
0.96	NAESX	Vanguard Small Cap	Pair Corr
0.96	FSSNX	Fidelity Small Cap	Pair Corr
0.97	DFSTX	Us Small Cap	Pair Corr
0.81	PASVX	T Rowe Price	Pair Corr
0.95	PRVIX	T Rowe Price	Pair Corr
0.95	TRZVX	T Rowe Price	Pair Corr
0.81	PRSVX	T Rowe Price	Pair Corr
0.78	VSTSX	Vanguard Total Stock	Pair Corr
0.78	VSMPX	Vanguard Total Stock	Pair Corr
0.78	VITSX	Vanguard Total Stock	Pair Corr
0.77	VFFSX	Vanguard 500 Index	Pair Corr
0.77	VFIAX	Vanguard 500 Index	Pair Corr
0.77	VINIX	Vanguard Institutional	Pair Corr
0.78	VTSAX	Vanguard Total Stock	Pair Corr
0.69	BAC	Bank of America Aggressive Push	Pair Corr
0.67	WMT	Walmart Aggressive Push	Pair Corr
0.61	HD	Home Depot	Pair Corr
0.62	HPQ	HP Inc	Pair Corr
0.63	DIS	Walt Disney Sell-off Trend	Pair Corr
0.74	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.67	CAT	Caterpillar Fiscal Year End 3rd of February 2025	Pair Corr
0.73	CSCO	Cisco Systems Sell-off Trend	Pair Corr

Moving against Tributary Mutual Fund

0.64	JNJ	Johnson Johnson Sell-off Trend	Pair Corr
0.58	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.54	PFE	Pfizer Inc Aggressive Push	Pair Corr
0.36	BA	Boeing Fiscal Year End 29th of January 2025	Pair Corr

Related Correlations Analysis

	SHISX	FHCCX	SHPCX	BHSRX	GGHYX	HHCZX	RAGHX
SHISX		0.89	0.84	1.0	0.99	-0.69	0.98	SHISX
FHCCX	0.89		0.79	0.89	0.86	-0.38	0.88	FHCCX
SHPCX	0.84	0.79		0.84	0.85	-0.59	0.84	SHPCX
BHSRX	1.0	0.89	0.84		0.99	-0.69	0.98	BHSRX
GGHYX	0.99	0.86	0.85	0.99		-0.75	0.99	GGHYX
HHCZX	-0.69	-0.38	-0.59	-0.69	-0.75		-0.73	HHCZX
RAGHX	0.98	0.88	0.84	0.98	0.99	-0.73		RAGHX
	SHISX	FHCCX	SHPCX	BHSRX	GGHYX	HHCZX	RAGHX

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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

BHSRX	+ 1.0	SHISX
GGHYX	+ 0.99	SHISX
GGHYX	+ 0.99	BHSRX
RAGHX	+ 0.99	GGHYX
RAGHX	+ 0.98	SHISX
RAGHX	+ 0.98	BHSRX

High negative correlations

HHCZX	- 0.75	GGHYX
RAGHX	- 0.73	HHCZX
HHCZX	- 0.69	BHSRX
HHCZX	- 0.69	SHISX
HHCZX	- 0.59	SHPCX
HHCZX	- 0.38	FHCCX

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
SHISX	0.59	(0.14)	0.00	(0.11)	0.00	0.00	0.90	(1.31)	3.38
FHCCX	0.70	(0.10)	(0.14)	(0.01)	0.94	(0.66)	1.05	(1.31)	4.04
SHPCX	0.62	(0.16)	0.00	(0.15)	0.00	0.00	0.96	(1.23)	4.21
BHSRX	0.59	(0.14)	0.00	(0.11)	0.00	0.00	0.91	(1.31)	3.39
GGHYX	0.63	(0.17)	0.00	(0.16)	0.00	0.00	0.93	(1.30)	3.73
HHCZX	0.16	0.00	(0.46)	0.15	0.00	(0.19)	0.37	(0.31)	1.14
RAGHX	0.63	(0.17)	0.00	(0.11)	0.00	0.00	0.96	(1.37)	3.33

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