Virtus Kar Correlations

Mutual Funds . USA . 
Fund . Virtus Kar Small Cap
PKSFX Fund  USD 53.73  0.32  0.59%   
The current 90-days correlation between Virtus Kar Small and Virtus Kar Small Cap is 0.92 (i.e., Almost no diversification). The correlation of Virtus Kar 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.

Virtus Kar Correlation With Market

Very weak diversification

The correlation between Virtus Kar Small Cap and DJI is 0.58 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Virtus Kar Small Cap and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Virtus Kar 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 census.

Moving together with Virtus Mutual Fund

  0.85SAGAX Ridgeworth InnovativePairCorr
  0.92SAMVX Ridgeworth Ceredex MidPairCorr
  0.97SASVX Ridgeworth Ceredex SmallPairCorr
  0.98PXQSX Virtus Kar SmallPairCorr
  0.89SSTFX Virtus Kar CapitalPairCorr
  0.95PXSGX Virtus Kar SmallPairCorr
  0.81STCZX Ridgeworth Silvant LargePairCorr
  0.81STCAX Ridgeworth Silvant LargePairCorr
  0.81STCIX Ridgeworth Silvant LargePairCorr
  0.94STCEX Ridgeworth Ceredex SmallPairCorr

Moving against Virtus Mutual Fund

  0.71SSAGX Virtus Seix GovernmentPairCorr
  0.65HIBIX Virtus Low DurationPairCorr
  0.62VMSSX Virtus Multi SectorPairCorr
  0.53SAMFX Ridgeworth Seix TotalPairCorr
  0.53SAMZX Ridgeworth Seix TotalPairCorr
  0.51SAVYX Virtus Bond FundPairCorr
  0.5SAVAX Virtus Bond FundPairCorr
  0.48SAVCX Virtus Bond FundPairCorr
  0.46VMSAX Vanguard Multi SectorPairCorr
  0.65HIMZX Virtus Low DurationPairCorr
  0.59PIMSX Virtus Multi SectorPairCorr
  0.54STGIX Ridgeworth Seix EPairCorr
  0.54STGZX Ridgeworth Seix EPairCorr
  0.54STIGX Ridgeworth Seix EPairCorr
  0.52PIPTX Virtus Kar GlobalPairCorr

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   
PKSCX
+ 1.0
PKSAX
PKSCX
+ 0.97
PXSGX
PKSAX
+ 0.96
PXSGX
PKSAX
+ 0.89
VIMCX
PKSCX
+ 0.86
VIMCX
VIMCX
+ 0.77
PXSGX
  
High negative correlations   
VIISX
- 0.49
PXSGX
PKSAX
- 0.4
VIISX
PKSCX
- 0.39
VIISX
VIISX
- 0.35
VIMCX

Risk-Adjusted Indicators

There is a big difference between Virtus Mutual Fund performing well and Virtus Kar 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 Virtus Kar'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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