Sp Smallcap Correlations

Mutual Funds . USA . 
Fund . Sp Smallcap Index
SMLKX Fund  USD 19.08  0.11  0.57%   
The current 90-days correlation between Sp Smallcap Index and Tiaa Cref Inflation Linked Bond is -0.11 (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 -0.04 (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 industry.

Moving together with SMLKX Mutual Fund

  0.99VSMAX Vanguard Small CapPairCorr
  0.77VSCIX Vanguard Small CapPairCorr
  0.99VSCPX Vanguard Small CapPairCorr
  0.99NAESX Vanguard Small CapPairCorr
  0.99FSSNX Fidelity Small CapPairCorr
  0.99DFSTX Us Small CapPairCorr
  0.7PASVX T Rowe PricePairCorr
  0.97PRVIX T Rowe PricePairCorr
  0.97TRZVX T Rowe PricePairCorr
  0.7PRSVX T Rowe PricePairCorr
  0.75SMPIX Semiconductor UltrasectorPairCorr
  0.72SMPSX Semiconductor UltrasectorPairCorr
  0.86AXP American ExpressPairCorr
  0.65JPM JPMorgan ChasePairCorr
  0.64CAT CaterpillarPairCorr
  0.8BAC Bank of AmericaPairCorr

Moving against SMLKX Mutual Fund

  0.7VZ Verizon CommunicationsPairCorr
  0.63TRV The Travelers CompaniesPairCorr
  0.58MCD McDonaldsPairCorr
  0.55JNJ Johnson JohnsonPairCorr
  0.49T ATT Inc Earnings Call TomorrowPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between SMLKX 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.

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