Small-cap Growth Correlations

SGPIX Fund  USD 104.62  2.47  2.31%   
The current 90-days correlation between Small Cap Growth and Small Cap Value Profund is 0.91 (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 0.62 (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

  0.77TEPIX Technology UltrasectorPairCorr
  0.61GVPIX Us Government Plus Steady GrowthPairCorr
  0.67REPIX Real Estate Ultrasector Steady GrowthPairCorr
  0.86BIPIX Biotechnology UltrasectorPairCorr
  0.95UAPIX Ultrasmall Cap ProfundPairCorr
  0.99SLPIX Small Cap ProfundPairCorr
  0.95VSMAX Vanguard Small CapPairCorr
  0.95VSCIX Vanguard Small CapPairCorr
  0.95VSCPX Vanguard Small CapPairCorr
  0.95NAESX Vanguard Small CapPairCorr
  0.98FSSNX Fidelity Small CapPairCorr
  0.97DFSTX Us Small CapPairCorr
  0.93PASVX T Rowe PricePairCorr
  0.93PRVIX T Rowe PricePairCorr
  0.93TRZVX T Rowe PricePairCorr
  0.93PRSVX T Rowe PricePairCorr

Moving against Small-cap Mutual Fund

  0.64SRPIX Short Real EstatePairCorr
  0.47SNPIX Short Oil Gas Steady GrowthPairCorr
  0.73PYLMX Payden Limited MaturityPairCorr
  0.62GAAKX Gmo Alternative AlloPairCorr
  0.6GAAGX Gmo Alternative AlloPairCorr
  0.51JGIAX Jpmorgan IncomePairCorr
  0.48MFIRX Ms Global FixedPairCorr
  0.44RFXCX Rational Special SitPairCorr
  0.41BDKAX Braddock Multi StrategyPairCorr

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.