Perkins Small Correlations

Mutual Funds . USA . 
Fund . Perkins Small Cap
JDSNX Fund  USD 22.49  0.16  0.71%   
The current 90-days correlation between Perkins Small Cap and New World Fund is 0.3 (i.e., Weak diversification). The correlation of Perkins 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.

Perkins Small Correlation With Market

Average diversification

The correlation between Perkins Small Cap and DJI is 0.16 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Perkins 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 Perkins 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 board of governors.

Moving together with Perkins Mutual Fund

  0.68JRACX Janus ResearchPairCorr
  0.91JABAX Janus BalancedPairCorr
  0.96JABCX Janus BalancedPairCorr
  0.73JRSAX Intech Managed VolatilityPairCorr
  0.63JRSCX Intech Managed VolatilityPairCorr
  0.76JRSIX Intech Managed VolatilityPairCorr
  0.92JACNX Janus ContrarianPairCorr
  0.9JACTX Janus Forty FundPairCorr
  0.93JADGX Janus Growth AndPairCorr
  0.96JABNX Janus BalancedPairCorr
  0.96JABRX Janus BalancedPairCorr
  0.88JACCX Janus Forty FundPairCorr
  0.95JAENX Janus EnterprisePairCorr
  0.68JAFLX Flexible Bond PortfolioPairCorr
  0.91JAGTX Janus Global TechnologyPairCorr
  0.88JAGCX Janus Global TechnologyPairCorr
  0.96JANBX Janus BalancedPairCorr
  0.95JANEX Janus EnterprisePairCorr
  0.96JANIX Janus TritonPairCorr
  0.86JANRX Janus Global SelectPairCorr

Related Correlations Analysis

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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   
JDMNX
+ 0.94
MVCKX
FBNRX
+ 0.92
RNWGX
JGMNX
+ 0.71
JDMNX
FBNRX
+ 0.58
MVCKX
MVCKX
+ 0.57
RNWGX
JGMNX
+ 0.56
MVCKX
  
High negative correlations   
FBNRX
- 0.1
JGMNX

Risk-Adjusted Indicators

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

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