Congress Mid Correlations

Mutual Funds . USA . 
Fund . Congress Mid Cap
IMIDX Fund  USD 20.48  0.05  0.24%   
The current 90-days correlation between Congress Mid Cap and Polen Growth Fund is 0.83 (i.e., Very poor diversification). The correlation of Congress 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.

Congress Mid Correlation With Market

Poor diversification

The correlation between Congress Mid Cap and DJI is 0.67 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Congress Mid Cap 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 Congress Mid 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 unemployment.

Moving together with Congress Mutual Fund

  1.0CMIDX Congress Mid CapPairCorr
  0.92CMLIX Congress Large CapPairCorr
  0.92CAMLX Congress Large CapPairCorr
  0.92CSMCX Century Small CapPairCorr
  0.96CSMVX Century Small CapPairCorr
  0.79PAMCX T Rowe PricePairCorr
  0.98RRMGX T Rowe PricePairCorr
  0.98TRQZX T Rowe PricePairCorr
  0.79RPMGX T Rowe PricePairCorr
  0.77PRJIX T Rowe PricePairCorr
  0.77PRNHX T Rowe PricePairCorr
  0.98TRUZX T Rowe PricePairCorr
  0.72PCBIX Midcap Fund InstitutionalPairCorr
  0.73PEMGX Midcap Fund ClassPairCorr
  0.74PMBCX Midcap Fund ClassPairCorr
  0.76VSTSX Vanguard Total StockPairCorr
  0.76VSMPX Vanguard Total StockPairCorr
  0.76VITSX Vanguard Total StockPairCorr
  0.75VFFSX Vanguard 500 IndexPairCorr
  0.75VFIAX Vanguard 500 IndexPairCorr
  0.69VINIX Vanguard InstitutionalPairCorr
  0.69VTSAX Vanguard Total StockPairCorr

Moving against Congress Mutual Fund

  0.78VIITX Vanguard InstitutionalPairCorr
  0.76MBOYX Madison E BondPairCorr
  0.72UIINX Income Fund IncomePairCorr
  0.71CPRSX Clarion Partners RealPairCorr
  0.62PACEX T Rowe PricePairCorr
  0.62FITFX Fidelity Flex InternPairCorr
  0.62FXNAX Fidelity Bond IndexPairCorr
  0.53AIDYX Diversified MunicipalPairCorr
  0.42VTISX Vanguard Total InterPairCorr
  0.42VTSNX Vanguard Total InterPairCorr
  0.42VTPSX Vanguard Total InterPairCorr
  0.39JEMCX Jpmorgan Emerging MarketsPairCorr
  0.36IAFEX Fisher All ForeignPairCorr
  0.77SAMFX Ridgeworth Seix TotalPairCorr
  0.76MWERX Metwest Esg SecuritizedPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Congress Mutual Fund performing well and Congress 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 Congress 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.

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