Small-cap Growth Correlations

Mutual Funds . USA . 
Fund . Small Cap Growth Profund
SGPIX Fund  USD 103.97  2.89  2.86%   
The current 90-days correlation between Small Cap Growth and Small Cap Value Profund is 0.92 (i.e., Almost no diversification). The correlation of Small-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.

Small-cap Growth Correlation With Market

Poor diversification

The correlation between Small Cap Growth Profund and DJI is 0.76 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Small Cap Growth Profund 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 Small 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 Small-cap Mutual Fund

  0.87TEPIX Technology UltrasectorPairCorr
  0.83TEPSX Technology UltrasectorPairCorr
  0.95LGPIX Large Cap GrowthPairCorr
  0.95LGPSX Profunds Large CapPairCorr
  0.94OTPIX Nasdaq 100 ProfundPairCorr
  0.85UJPIX Ultrajapan ProfundPairCorr
  0.94OTPSX Nasdaq 100 ProfundPairCorr
  0.85UJPSX Ultrajapan ProfundPairCorr
  0.93MLPSX Mid Cap ValuePairCorr
  0.93MLPIX Mid Cap ValuePairCorr
  0.91BTCFX Bitcoin Strategy Profund Steady GrowthPairCorr
  0.9INPIX Internet UltrasectorPairCorr
  0.86INPSX Internet UltrasectorPairCorr
  0.88ULPIX Ultrabull ProfundPairCorr
  0.95ULPSX Ultrabull ProfundPairCorr
  0.82OEPSX Oil Equipment Services Steady GrowthPairCorr
  0.98CYPSX Consumer Services Steady GrowthPairCorr
  0.94CYPIX Consumer Services Steady GrowthPairCorr
  0.84OEPIX Oil Equipment Services Steady GrowthPairCorr
  0.99SVPIX Small Cap ValuePairCorr
  0.99SVPSX Small Cap ValuePairCorr
  0.98UMPSX Ultramid Cap ProfundPairCorr
  0.98UMPIX Ultramid Cap ProfundPairCorr

Moving against Small-cap Mutual Fund

  0.97UIPIX Ultrashort Mid CapPairCorr
  0.94UIPSX Ultrashort Mid CapPairCorr
  0.94BRPSX Bear Profund BearPairCorr
  0.88BRPIX Bear Profund BearPairCorr
  0.85UKPSX Ultrashort Japan ProfundPairCorr
  0.85UKPIX Ultrashort Japan ProfundPairCorr
  0.59GVPIX Us Government PlusPairCorr
  0.58GVPSX Us Government PlusPairCorr
  0.81FDPSX Falling Dollar ProfundPairCorr
  0.81FDPIX Falling Dollar ProfundPairCorr
  0.62UNPIX UltrainternationalPairCorr
  0.62UNPSX UltrainternationalPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Small-cap Mutual Fund performing well and Small-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 Small-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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