Mid-cap Growth Correlations

Mutual Funds . USA . 
Fund . Mid Cap Growth Profund
MGPIX Fund  USD 100.71  0.14  0.14%   
The current 90-days correlation between Mid Cap Growth and Small Cap Growth Profund is 0.96 (i.e., Almost no diversification). The correlation of Mid-cap Growth 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.

Mid-cap Growth Correlation With Market

Poor diversification

The correlation between Mid Cap Growth Profund and DJI is 0.73 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mid Cap Growth Profund and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Mid Cap Growth Profund. 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 gross domestic product.

Moving together with Mid-cap Mutual Fund

  0.83TEPIX Technology UltrasectorPairCorr
  0.79TEPSX Technology UltrasectorPairCorr
  0.95LGPIX Large Cap GrowthPairCorr
  0.95LGPSX Profunds Large CapPairCorr
  0.92OTPIX Nasdaq 100 ProfundPairCorr
  0.86UJPIX Ultrajapan ProfundPairCorr
  0.93OTPSX Nasdaq 100 ProfundPairCorr
  0.86UJPSX Ultrajapan ProfundPairCorr
  0.95MLPSX Mid Cap ValuePairCorr
  0.95MLPIX Mid Cap ValuePairCorr
  0.92BTCFX Bitcoin Strategy ProfundPairCorr
  0.89INPIX Internet Ultrasector Steady GrowthPairCorr
  0.83INPSX Internet UltrasectorPairCorr
  0.86ULPIX Ultrabull ProfundPairCorr
  0.93ULPSX Ultrabull ProfundPairCorr
  0.88OEPSX Oil Equipment ServicesPairCorr
  0.96CYPSX Consumer Services Steady GrowthPairCorr
  0.92CYPIX Consumer ServicesPairCorr
  0.89OEPIX Oil Equipment ServicesPairCorr
  0.99SVPIX Small Cap ValuePairCorr
  0.98SVPSX Small Cap ValuePairCorr
  0.62RRPSX Rising Rates OpportunityPairCorr
  0.99UMPSX Ultramid Cap ProfundPairCorr
  0.99UMPIX Ultramid Cap ProfundPairCorr

Moving against Mid-cap Mutual Fund

  0.99UIPIX Ultrashort Mid CapPairCorr
  0.95UIPSX Ultrashort Mid CapPairCorr
  0.93BRPSX Bear Profund BearPairCorr
  0.86BRPIX Bear Profund BearPairCorr
  0.86UKPSX Ultrashort Japan ProfundPairCorr
  0.86UKPIX Ultrashort Japan ProfundPairCorr
  0.64GVPIX Us Government PlusPairCorr
  0.63GVPSX Us Government PlusPairCorr
  0.83FDPIX Falling Dollar ProfundPairCorr
  0.82FDPSX Falling Dollar ProfundPairCorr
  0.62UNPIX UltrainternationalPairCorr
  0.62UNPSX UltrainternationalPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Mid-cap Mutual Fund performing well and Mid-cap Growth 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 Mid-cap Growth'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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