Large Capitalization Correlations

Mutual Funds . USA . 
Fund . Large Capitalization Growth
SLGCX Fund  USD 4.85  0.12  2.41%   
The current 90-days correlation between Large Capitalization and Goldman Sachs Technology is 0.95 (i.e., Almost no diversification). The correlation of Large Capitalization 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.

Large Capitalization Correlation With Market

Poor diversification

The correlation between Large Capitalization Growth and DJI is 0.7 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Large Capitalization Growth 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 Large Capitalization Growth. 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 main economic indicators.

Moving together with Large Mutual Fund

  0.96SABAX Salient Alternative BetaPairCorr
  0.96SABIX Aggressive BalancedPairCorr
  0.97SABCX Salient Alternative BetaPairCorr
  0.96SAMAX Moderately AggressivePairCorr
  0.96SAMCX Salient Mlp FundPairCorr
  0.95SAMIX Moderately AggressivePairCorr
  0.91SSCCX Small CapitalizationPairCorr
  0.92SSCPX Small CapitalizationPairCorr
  0.92SSCYX Small CapitalizationPairCorr
  0.96SBCCX Moderately ConservativePairCorr
  0.97SBMCX Moderate BalancedPairCorr
  0.96SBMIX Moderate BalancedPairCorr
  0.99STPAX Technology CommunicationsPairCorr
  0.99STPCX Technology CommunicationsPairCorr
  0.99STPIX Technology CommunicationsPairCorr
  0.91SCAAX Conservative BalancedPairCorr
  0.92SUMCX Conservative BalancedPairCorr
  0.76SFPCX Financial ServicesPairCorr
  0.81SFPAX Financial ServicesPairCorr
  0.8SFPIX Financial ServicesPairCorr
  1.0SLCGX Large CapitalizationPairCorr
  0.86SLCVX Large Cap ValuePairCorr
  1.0SLGYX Large CapitalizationPairCorr
  0.87SLVCX Large Cap ValuePairCorr
  0.86SLVYX Large Cap ValuePairCorr
  0.95SMACX Moderately ConservativePairCorr

Moving against Large Mutual Fund

  0.64SIBPX Investment Quality BondPairCorr
  0.58SIEYX International EquityPairCorr
  0.65SQBAX Investment Quality BondPairCorr
  0.64SQBCX Investment Quality BondPairCorr
  0.59SIECX International EquityPairCorr
  0.58SIEPX International Equity Potential GrowthPairCorr

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   
JGLTX
+ 0.99
BGSCX
USTCX
+ 0.99
BGSCX
USTCX
+ 0.99
JGLTX
JGLTX
+ 0.98
GISTX
USTCX
+ 0.98
GISTX
BGSCX
+ 0.97
GISTX
  
High negative correlations   
SBHIX
- 0.2
BGSCX
SBHIX
- 0.16
JGLTX
SBHIX
- 0.15
USTCX
SBHIX
- 0.05
GISTX

Risk-Adjusted Indicators

There is a big difference between Large Mutual Fund performing well and Large Capitalization 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 Large Capitalization'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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