Smallcap World Correlations

Mutual Funds . USA . 
Fund . Smallcap World Fund
SCWFX Fund  USD 65.93  0.04  0.06%   
The current 90-days correlation between Smallcap World and New World Fund is 0.76 (i.e., Poor diversification). The correlation of Smallcap World 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.

Smallcap World Correlation With Market

Good diversification

The correlation between Smallcap World Fund and DJI is -0.04 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Smallcap World Fund and DJI in the same portfolio, assuming nothing else is changed.
  
Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Smallcap World Fund. 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 Smallcap Mutual Fund

  0.85RNEBX New World FundPairCorr
  0.69AMEFX Income FundPairCorr
  0.93RNGGX New Economy FundPairCorr
  0.94RNGFX New Economy FundPairCorr
  0.94RNGHX New Economy FundPairCorr
  0.83RNGBX New Economy FundPairCorr
  0.93RNGAX New Economy FundPairCorr
  0.94RNGEX New Economy FundPairCorr
  0.94RNGCX New Economy FundPairCorr
  0.78AMHIX American High IncomePairCorr
  0.79TEBCX Tax Exempt BondPairCorr
  0.78TECCX Tax Exempt FundPairCorr
  0.77TEAFX Tax Exempt BondPairCorr
  0.77TECFX Tax Exempt FundPairCorr
  0.76TEFEX Tax Exempt FundPairCorr
  0.84RNNEX New Economy FundPairCorr
  0.83CDJAX American Funds CollegePairCorr
  0.94AMPCX Amcap Fund ClassPairCorr
  0.85AMPFX Amcap Fund ClassPairCorr
  0.86RNPBX New PerspectivePairCorr
  0.86RNPAX New PerspectivePairCorr
  0.87RNPHX New PerspectivePairCorr
  0.87RNPGX New PerspectivePairCorr
  0.75RNPCX New PerspectivePairCorr
  0.87RNPFX New PerspectivePairCorr
  0.85RNPEX New PerspectivePairCorr
  0.85AMRMX American MutualPairCorr
  0.85AMRFX American MutualPairCorr
  0.73AMUSX Us Government SecuritiesPairCorr
  0.82RNWFX New World FundPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Smallcap Mutual Fund performing well and Smallcap World 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 Smallcap World'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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