Sp Midcap Correlations

MIDKX Fund

USD 22.89 0.12 0.52%

The current 90-days correlation between Sp Midcap Index and Vanguard Global Ex Us is -0.03 (i.e., Good diversification). The correlation of Sp Midcap 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.

Sp Midcap Correlation With Market

Poor diversification

The correlation between Sp Midcap Index and DJI is 0.74 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sp Midcap Index 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 Sp Midcap Index. 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 industry.

Moving together with MIDKX Mutual Fund

0.9	NQQQX	Shelton Funds	Pair Corr
0.9	NASDX	Nasdaq 100 Index	Pair Corr
0.93	EQTKX	Shelton E Value	Pair Corr
0.93	EQTIX	Shelton E Value	Pair Corr
0.9	NDXKX	Nasdaq 100 Index	Pair Corr
0.96	NEXIX	Shelton Green Alpha	Pair Corr
0.96	NEXTX	Shelton Green Alpha	Pair Corr
0.98	SMCIX	Sp Smallcap Index	Pair Corr
0.98	SMLKX	Sp Smallcap Index	Pair Corr
0.92	SPFIX	Sp 500 Index	Pair Corr
0.95	SPMIX	Sp Midcap Index	Pair Corr
0.92	SPXKX	Sp 500 Index	Pair Corr
0.84	VIMAX	Vanguard Mid Cap	Pair Corr
0.84	VIMSX	Vanguard Mid Cap	Pair Corr
0.91	VMCPX	Vanguard Mid Cap	Pair Corr
0.91	VMCIX	Vanguard Mid Cap	Pair Corr
0.99	VEXAX	Vanguard Extended Market	Pair Corr
0.99	VEMPX	Vanguard Extended Market	Pair Corr
0.99	VIEIX	Vanguard Extended Market	Pair Corr
0.99	VSEMX	Vanguard Extended Market	Pair Corr
0.99	VEXMX	Vanguard Extended Market	Pair Corr
0.99	FSMAX	Fidelity Extended Market	Pair Corr
0.86	VTSAX	Vanguard Total Stock	Pair Corr
0.83	VFIAX	Vanguard 500 Index	Pair Corr
0.86	VTSMX	Vanguard Total Stock	Pair Corr
0.94	VSMPX	Vanguard Total Stock	Pair Corr
0.86	VSTSX	Vanguard Total Stock	Pair Corr
0.94	VITSX	Vanguard Total Stock	Pair Corr
0.92	VFINX	Vanguard 500 Index	Pair Corr
0.91	VFFSX	Vanguard 500 Index	Pair Corr

Moving against MIDKX Mutual Fund

0.63	CAUSX	Us Government Securities	Pair Corr
0.6	CAUKX	Us Government Securities	Pair Corr
0.53	SISEX	Shelton International	Pair Corr
0.53	SISLX	Shelton International	Pair Corr
0.48	DEBTX	Shelton Tactical Credit	Pair Corr
0.48	DEBIX	Shelton Tactical Credit	Pair Corr
0.33	EMSLX	Shelton Emerging Markets	Pair Corr
0.33	EMSQX	Shelton Emerging Markets	Pair Corr
0.69	MWLIX	Metropolitan West Low	Pair Corr
0.62	FXNAX	Fidelity Bond Index	Pair Corr
0.49	VTIAX	Vanguard Total Inter	Pair Corr
0.45	VGTSX	Vanguard Total Inter	Pair Corr

Related Correlations Analysis

	VGRLX	BPGSX	SGLIX	SGMAX	MSTGX	RGHYX	MFIRX
VGRLX		0.86	0.29	0.74	0.88	0.75	0.81	VGRLX
BPGSX	0.86		0.04	0.67	0.98	0.85	0.93	BPGSX
SGLIX	0.29	0.04		0.66	0.08	0.03	-0.03	SGLIX
SGMAX	0.74	0.67	0.66		0.7	0.62	0.62	SGMAX
MSTGX	0.88	0.98	0.08	0.7		0.91	0.96	MSTGX
RGHYX	0.75	0.85	0.03	0.62	0.91		0.9	RGHYX
MFIRX	0.81	0.93	-0.03	0.62	0.96	0.9		MFIRX
	VGRLX	BPGSX	SGLIX	SGMAX	MSTGX	RGHYX	MFIRX

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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

MSTGX	+ 0.98	BPGSX
MFIRX	+ 0.96	MSTGX
MFIRX	+ 0.93	BPGSX
RGHYX	+ 0.91	MSTGX
MFIRX	+ 0.9	RGHYX
MSTGX	+ 0.88	VGRLX

High negative correlations

MFIRX

- 0.03

SGLIX

Risk-Adjusted Indicators

There is a big difference between MIDKX Mutual Fund performing well and Sp Midcap 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 Sp Midcap'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
VGRLX	0.57	0.00	0.10	(0.08)	0.75	(0.57)	1.18	(1.34)	2.97
BPGSX	0.63	0.10	0.20	(1.30)	0.74	(0.67)	1.15	(0.98)	5.23
SGLIX	0.81	(0.26)	0.00	(4.87)	0.00	0.00	0.97	(0.97)	18.08
SGMAX	0.57	(0.05)	0.00	(0.18)	0.00	0.00	0.95	(0.77)	9.52
MSTGX	0.31	0.04	0.23	(0.68)	0.35	(0.34)	0.74	(0.62)	1.58
RGHYX	0.13	0.01	0.32	(0.01)	0.13	(0.16)	0.20	(0.30)	1.13
MFIRX	0.11	0.01	0.31	0.72	0.00	(0.21)	0.19	(0.19)	0.77

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