Sp Smallcap Correlations

SMCIX Fund

USD 19.95 0.12 0.60%

The current 90-days correlation between Sp Smallcap Index and Sp Midcap Index is -0.04 (i.e., Good diversification). The correlation of Sp Smallcap 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.

Sp Smallcap Correlation With Market

Good diversification

The correlation between Sp Smallcap Index and DJI is -0.05 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sp Smallcap Index 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 Sp Smallcap Index. 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 SMCIX Mutual Fund

0.99	VSMAX	Vanguard Small Cap	Pair Corr
0.77	VSCIX	Vanguard Small Cap	Pair Corr
0.99	VSCPX	Vanguard Small Cap	Pair Corr
0.99	NAESX	Vanguard Small Cap	Pair Corr
0.99	FSSNX	Fidelity Small Cap	Pair Corr
1.0	DFSTX	Us Small Cap	Pair Corr
0.7	PASVX	T Rowe Price	Pair Corr
0.98	PRVIX	T Rowe Price	Pair Corr
0.97	TRZVX	T Rowe Price	Pair Corr
0.7	PRSVX	T Rowe Price	Pair Corr
0.75	SMPIX	Semiconductor Ultrasector	Pair Corr
0.72	SMPSX	Semiconductor Ultrasector	Pair Corr
0.86	AXP	American Express	Pair Corr
0.65	JPM	JPMorgan Chase	Pair Corr
0.63	CAT	Caterpillar	Pair Corr
0.8	BAC	Bank of America	Pair Corr

Moving against SMCIX Mutual Fund

0.7	VZ	Verizon Communications	Pair Corr
0.63	TRV	The Travelers Companies	Pair Corr
0.58	MCD	McDonalds	Pair Corr
0.55	JNJ	Johnson Johnson	Pair Corr
0.49	T	ATT Inc Earnings Call Tomorrow	Pair Corr

Related Correlations Analysis

	SPMIX	SPFIX	NASDX	SCPIX	NOSIX
SPMIX		0.75	0.72	0.75	0.75	SPMIX
SPFIX	0.75		0.98	1.0	1.0	SPFIX
NASDX	0.72	0.98		0.98	0.98	NASDX
SCPIX	0.75	1.0	0.98		1.0	SCPIX
NOSIX	0.75	1.0	0.98	1.0		NOSIX
	SPMIX	SPFIX	NASDX	SCPIX	NOSIX

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Risk-Adjusted Indicators

There is a big difference between SMCIX Mutual Fund performing well and Sp Smallcap 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 Sp Smallcap'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.

	Mean Deviation	Jensen Alpha	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
SPMIX	0.84	(0.10)	(0.18)	1.32	(2.17)	4.02
SPFIX	0.78	(0.09)	1.58	1.26	(1.70)	4.51
NASDX	1.05	(0.15)	1.11	1.66	(2.76)	6.10
SCPIX	0.78	(0.09)	1.49	1.27	(1.70)	4.53
NOSIX	0.78	(0.09)	1.57	1.26	(1.71)	4.52

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