Small Capitalization Correlations

Mutual Funds . USA . 
Fund . Small Capitalization Portfolio
SSCPX Fund  USD 6.38  0.02  0.31%   
The current 90-days correlation between Small Capitalization and Victory High Yield is 0.55 (i.e., Very weak diversification). The correlation of Small 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.

Small Capitalization Correlation With Market

Poor diversification

The correlation between Small Capitalization Portfolio and DJI is 0.78 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Small Capitalization Portfolio 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 Capitalization Portfolio. 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 american community survey.

Moving together with Small Mutual Fund

  0.87SABIX Aggressive BalancedPairCorr
  0.89SABCX Salient Alternative BetaPairCorr
  0.87SAMAX Moderately AggressivePairCorr
  0.88SAMCX Salient Mlp FundPairCorr
  0.86SAMIX Moderately AggressivePairCorr
  0.99SSCCX Small CapitalizationPairCorr
  1.0SSCYX Small CapitalizationPairCorr
  0.88SBCCX Moderately ConservativePairCorr
  0.88SBMCX Moderate BalancedPairCorr
  0.86SBMIX Moderate BalancedPairCorr
  0.93STPAX Technology CommunicationsPairCorr
  0.94STPCX Technology CommunicationsPairCorr
  0.87STPIX Technology CommunicationsPairCorr
  0.79SUMCX Conservative BalancedPairCorr
  0.64SFPIX Financial ServicesPairCorr
  0.92SLCGX Large CapitalizationPairCorr
  0.75SLCVX Large Cap ValuePairCorr
  0.92SLGCX Large CapitalizationPairCorr
  0.92SLGYX Large CapitalizationPairCorr
  0.77SLVCX Large Cap ValuePairCorr
  0.76SLVYX Large Cap ValuePairCorr
  0.86SMICX Moderately ServativePairCorr
  0.94SMIPX Mid CapitalizationPairCorr
  0.86SMPAX Moderate BalancedPairCorr
  0.76LUNAX Conservative BalancedPairCorr
  0.95SPMAX Mid CapitalizationPairCorr
  0.95SPMCX Mid CapitalizationPairCorr

Moving against Small Mutual Fund

  0.82SIBPX Investment Quality BondPairCorr
  0.81SQBAX Investment Quality BondPairCorr
  0.8SQBCX Investment Quality BondPairCorr
  0.79SIEYX International EquityPairCorr
  0.79SIEPX International EquityPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Small Mutual Fund performing well and Small 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 Small 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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