Ivy Small Correlations

ISPVX Fund

USD 18.86 0.14 0.74%

The current 90-days correlation between Ivy Small Cap and Kirr Marbach Partners is 0.01 (i.e., Significant diversification). The correlation of Ivy Small 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.

Ivy Small Correlation With Market

Good diversification

The correlation between Ivy Small Cap and DJI is -0.1 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ivy Small 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 Ivy Small 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 real.

Moving together with Ivy Mutual Fund

0.93	ILGRX	Ivy Large Cap	Pair Corr
0.9	WRGCX	Ivy Small Cap	Pair Corr
0.72	WRHIX	Ivy High Income	Pair Corr
0.91	WSCYX	Ivy Small Cap	Pair Corr
0.94	WSGRX	Ivy Small Cap	Pair Corr
0.67	WSTYX	Ivy Science And	Pair Corr
0.66	WSTCX	Ivy Science And	Pair Corr
0.76	INRSX	Ivy Natural Resources	Pair Corr
0.72	WTRCX	Ivy E Equity	Pair Corr
0.83	WCEYX	Ivy E Equity	Pair Corr
0.82	IBARX	Ivy Balanced	Pair Corr
0.87	ISTIX	Ivy Science And	Pair Corr
0.87	ISTNX	Ivy Science And	Pair Corr
0.73	WHIYX	Ivy High Income	Pair Corr
0.82	IBNYX	Ivy Balanced	Pair Corr
0.84	IBNCX	Ivy Balanced	Pair Corr
0.84	ICEQX	Ivy E Equity	Pair Corr
0.84	ICIEX	Ivy E Equity	Pair Corr

Moving against Ivy Mutual Fund

0.45	ICEIX	Ivy International	Pair Corr
0.45	IVIFX	Ivy International	Pair Corr

Related Correlations Analysis

	KMVAX	LOGBX	HRSTX	EICVX	CPUCX	VFFVX	FGFAX
KMVAX		-0.01	-0.61	-0.24	-0.51	0.64	-0.5	KMVAX
LOGBX	-0.01		0.68	0.95	0.79	0.69	0.81	LOGBX
HRSTX	-0.61	0.68		0.83	0.86	0.05	0.96	HRSTX
EICVX	-0.24	0.95	0.83		0.87	0.47	0.92	EICVX
CPUCX	-0.51	0.79	0.86	0.87		0.22	0.9	CPUCX
VFFVX	0.64	0.69	0.05	0.47	0.22		0.24	VFFVX
FGFAX	-0.5	0.81	0.96	0.92	0.9	0.24		FGFAX
	KMVAX	LOGBX	HRSTX	EICVX	CPUCX	VFFVX	FGFAX

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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

FGFAX	+ 0.96	HRSTX
EICVX	+ 0.95	LOGBX
FGFAX	+ 0.92	EICVX
FGFAX	+ 0.9	CPUCX
CPUCX	+ 0.87	EICVX
CPUCX	+ 0.86	HRSTX

High negative correlations

HRSTX	- 0.61	KMVAX
CPUCX	- 0.51	KMVAX
FGFAX	- 0.5	KMVAX
EICVX	- 0.24	KMVAX
LOGBX	- 0.01	KMVAX

Risk-Adjusted Indicators

There is a big difference between Ivy Mutual Fund performing well and Ivy Small 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 Ivy Small'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
KMVAX	1.10	0.00	0.00	(0.08)	0.00	0.00	2.25	(2.51)	9.45
LOGBX	0.44	0.09	0.23	0.13	0.46	(0.47)	0.84	(1.00)	2.01
HRSTX	0.04	0.01	0.70	0.35	0.00	(0.08)	0.12	(0.06)	0.30
EICVX	0.56	0.14	0.24	0.20	0.56	(0.59)	1.31	(1.42)	2.93
CPUCX	0.25	0.04	0.39	0.51	0.11	(0.32)	0.66	(0.45)	1.45
VFFVX	0.62	0.04	0.08	(0.01)	0.83	(0.62)	1.46	(1.31)	3.75
FGFAX	0.74	0.29	0.34	0.41	0.66	(0.84)	2.06	(1.48)	5.93

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