Large Cap Correlations

Mutual Funds . USA . 
Fund . Large Cap Value
SLVYX Fund  USD 23.31  0.14  0.60%   
The correlation of Large Cap 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 Cap Correlation With Market

Poor diversification

The correlation between Large Cap Value and DJI is 0.75 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Large Cap Value 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 Cap Value. 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 manufacturing.

Moving together with Large Mutual Fund

  0.96SABAX Salient Alternative BetaPairCorr
  0.96SABIX Aggressive BalancedPairCorr
  0.95SABCX Salient Alternative BetaPairCorr
  0.96SAMAX Moderately AggressivePairCorr
  0.95SAMCX Salient Mlp FundPairCorr
  0.96SAMIX Moderately AggressivePairCorr
  0.73SSCCX Small CapitalizationPairCorr
  0.74SSCPX Small CapitalizationPairCorr
  0.74SSCYX Small CapitalizationPairCorr
  0.86SBCCX Moderately ConservativePairCorr
  0.95SBMCX Moderate BalancedPairCorr
  0.96SBMIX Moderate BalancedPairCorr
  0.88STPAX Technology CommunicationsPairCorr
  0.88STPCX Technology CommunicationsPairCorr
  0.82STPIX Technology CommunicationsPairCorr
  0.95SCAAX Conservative BalancedPairCorr
  0.85SUMCX Conservative BalancedPairCorr
  0.91SFPCX Financial ServicesPairCorr
  0.94SFPAX Financial ServicesPairCorr
  0.85SFPIX Financial ServicesPairCorr
  0.88SLCGX Large CapitalizationPairCorr
  1.0SLCVX Large Cap ValuePairCorr
  0.82SLGCX Large CapitalizationPairCorr
  0.88SLGYX Large CapitalizationPairCorr
  1.0SLVCX Large Cap ValuePairCorr
  0.95SMACX Moderately ConservativePairCorr

Moving against Large Mutual Fund

  0.33SIBPX Investment Quality BondPairCorr
  0.34SQBAX Investment Quality BondPairCorr
  0.33SQBCX Investment Quality BondPairCorr

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   
SBFAX
+ 0.99
FNPIX
VFAIX
+ 0.99
FNPIX
VFAIX
+ 0.98
SBFAX
FIDAX
+ 0.91
RMBLX
SBFAX
+ 0.8
RMBLX
VFAIX
+ 0.76
RMBLX
  
High negative correlations   
VFAIX
- 0.0
VETXX
GCFSX
- 0.0
VETXX
FIDAX
- 0.0
VETXX
SBFAX
- 0.0
VETXX
FNPIX
- 0.0
VETXX
RMBLX
- 0.0
VETXX

Risk-Adjusted Indicators

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