Small-company Stock Correlations

HSCSX Fund

USD 24.10 0.06 0.25%

The current 90-days correlation between Small-company Stock and Doubleline Emerging Markets is 0.02 (i.e., Significant diversification). The correlation of Small-company Stock 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 Stock Correlation With Market

Poor diversification

The correlation between Small Company Stock Fund and DJI is 0.75 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Small Company Stock Fund and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Small Company Stock 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 state.

Moving together with Small-company Mutual Fund

0.92	HNASX	Growth Fund Growth	Pair Corr
0.88	HSTIX	Stock Index Fund	Pair Corr
0.94	VSMAX	Vanguard Small Cap	Pair Corr
0.98	VSCIX	Vanguard Small Cap	Pair Corr
0.98	VSCPX	Vanguard Small Cap	Pair Corr
0.98	NAESX	Vanguard Small Cap	Pair Corr
0.94	FSSNX	Fidelity Small Cap	Pair Corr
0.98	DFSTX	Us Small Cap	Pair Corr
0.95	PASVX	T Rowe Price	Pair Corr
0.95	PRVIX	T Rowe Price	Pair Corr
0.95	TRZVX	T Rowe Price	Pair Corr
0.9	PRSVX	T Rowe Price	Pair Corr

Moving against Small-company Mutual Fund

0.82	HOSGX	Short Term Government	Pair Corr
0.81	HOSBX	Short Term Bond	Pair Corr
0.79	HOIBX	Homestead Intermediate	Pair Corr
0.65	HISIX	International Equity	Pair Corr
0.99	RYCQX	Inverse Russell 2000 Potential Growth	Pair Corr
0.81	PMZPX	Pimco Mortgage Oppor	Pair Corr
0.81	MPIBX	Bny Mellon Intermediate	Pair Corr
0.79	IVFAX	Federated International	Pair Corr
0.71	CEBRX	Columbia Emerging Markets	Pair Corr
0.7	ANDNX	Aqr International	Pair Corr
0.69	GLOIX	Gamco Global Opportunity	Pair Corr
0.65	OSINX	Oppenheimer Strat Incm	Pair Corr
0.65	PSDAX	Short Duration Municipal	Pair Corr
0.61	IIXAX	Catalyst Insider Income	Pair Corr
0.59	FMY	First Trust Mortgage	Pair Corr
0.58	NHS	Neuberger Berman High	Pair Corr
0.56	IIXCX	Catalyst Insider Income	Pair Corr
0.56	GSIUX	Goldman Sachs Emerging	Pair Corr
0.55	UTF	Cohen And Steers	Pair Corr
0.46	ESPTX	Ubs International	Pair Corr
0.37	IPIMX	Voya High Yield	Pair Corr
0.99	RYMHX	Inverse Mid Cap Potential Growth	Pair Corr
0.82	DDCFX	Doubleline Core Fixed	Pair Corr
0.81	VUSSX	Invesco Quality Income	Pair Corr
0.79	LWSTX	Western Asset Short	Pair Corr

Related Correlations Analysis

	DBELX	SAEMX	SFGIX	REMVX	RYACX	PIEFX	EGLNX	UUPIX
DBELX		0.91	0.92	0.96	0.56	0.91	0.21	0.9	DBELX
SAEMX	0.91		0.92	0.96	0.43	0.95	0.12	0.88	SAEMX
SFGIX	0.92	0.92		0.96	0.32	0.9	0.28	0.95	SFGIX
REMVX	0.96	0.96	0.96		0.47	0.94	0.2	0.94	REMVX
RYACX	0.56	0.43	0.32	0.47		0.4	0.06	0.26	RYACX
PIEFX	0.91	0.95	0.9	0.94	0.4		0.27	0.91	PIEFX
EGLNX	0.21	0.12	0.28	0.2	0.06	0.27		0.35	EGLNX
UUPIX	0.9	0.88	0.95	0.94	0.26	0.91	0.35		UUPIX
	DBELX	SAEMX	SFGIX	REMVX	RYACX	PIEFX	EGLNX	UUPIX

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Risk-Adjusted Indicators

There is a big difference between Small-company Mutual Fund performing well and Small-company Stock 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 Stock'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
DBELX	0.33	0.03	0.06	(9.02)	0.28	(0.44)	0.71	(0.58)	1.78
SAEMX	0.58	0.04	0.04	0.31	0.77	(0.61)	1.17	(1.44)	3.59
SFGIX	0.53	0.03	0.03	(0.43)	0.77	(0.53)	1.09	(1.25)	4.18
REMVX	0.80	0.07	0.07	(0.77)	0.94	(0.86)	1.67	(1.56)	5.76
RYACX	1.09	0.14	0.11	0.59	1.10	(1.24)	2.78	(1.58)	6.30
PIEFX	0.99	0.08	0.06	0.15	1.25	(0.99)	2.06	(2.04)	6.94
EGLNX	1.06	0.13	0.09	0.19	1.35	(1.09)	1.97	(2.00)	6.25
UUPIX	2.27	0.24	0.08	(0.77)	2.87	(2.32)	4.92	(4.93)	14.16

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