Small-cap Value Correlations

Mutual Funds . USA . 
Fund . Small Cap Value Profund
SVPIX Fund  USD 101.21  0.84  0.82%   
The current 90-days correlation between Small Cap Value and American Funds Retirement is 0.87 (i.e., Very poor diversification). The correlation of Small-cap Value 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-cap Value Correlation With Market

Poor diversification

The correlation between Small Cap Value Profund and DJI is 0.77 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Small Cap Value Profund 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 Cap Value Profund. 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 Small-cap Mutual Fund

  0.84TEPIX Technology UltrasectorPairCorr
  0.81TEPSX Technology UltrasectorPairCorr
  0.93LGPIX Large Cap GrowthPairCorr
  0.94LGPSX Profunds Large CapPairCorr
  0.91OTPIX Nasdaq 100 ProfundPairCorr
  0.87UJPIX Ultrajapan ProfundPairCorr
  0.92OTPSX Nasdaq 100 ProfundPairCorr
  0.88UJPSX Ultrajapan ProfundPairCorr
  0.94MLPSX Mid Cap ValuePairCorr
  0.93MLPIX Mid Cap ValuePairCorr
  0.91BTCFX Bitcoin Strategy ProfundPairCorr
  0.86INPIX Internet Ultrasector Steady GrowthPairCorr
  0.86INPSX Internet Ultrasector Steady GrowthPairCorr
  0.87ULPIX Ultrabull ProfundPairCorr
  0.93ULPSX Ultrabull ProfundPairCorr
  0.87OEPSX Oil Equipment ServicesPairCorr
  0.98CYPSX Consumer Services Steady GrowthPairCorr
  0.94CYPIX Consumer Services Steady GrowthPairCorr
  0.87OEPIX Oil Equipment ServicesPairCorr
  1.0SVPSX Small Cap ValuePairCorr
  0.65RRPSX Rising Rates OpportunityPairCorr
  0.98UMPSX Ultramid Cap ProfundPairCorr
  0.98UMPIX Ultramid Cap ProfundPairCorr

Moving against Small-cap Mutual Fund

  0.97UIPIX Ultrashort Mid CapPairCorr
  0.97UIPSX Ultrashort Mid CapPairCorr
  0.92BRPSX Bear Profund BearPairCorr
  0.87BRPIX Bear Profund BearPairCorr
  0.87UKPSX Ultrashort Japan ProfundPairCorr
  0.81UKPIX Ultrashort Japan ProfundPairCorr
  0.68GVPIX Us Government PlusPairCorr
  0.66GVPSX Us Government PlusPairCorr
  0.86FDPSX Falling Dollar ProfundPairCorr
  0.73FDPIX Falling Dollar ProfundPairCorr
  0.71UNPIX UltrainternationalPairCorr
  0.68UNPSX UltrainternationalPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Small-cap Mutual Fund performing well and Small-cap Value 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-cap Value'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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