Schwab Small-cap Correlations

SWSCX Fund

USD 18.45 0.48 2.67%

The current 90-days correlation between Schwab Small Cap and Calvert Large Cap is 0.03 (i.e., Significant diversification). The correlation of Schwab Small-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.

Schwab Small-cap Correlation With Market

Poor diversification

The correlation between Schwab Small Cap Equity and DJI is 0.73 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Schwab Small Cap Equity 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 Schwab Small Cap Equity. 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 main economic indicators.

Moving together with Schwab Mutual Fund

0.95	LGILX	Laudus Large Cap	Pair Corr
0.95	SWANX	Schwab E Equity	Pair Corr
0.87	SWMCX	Schwab Mid Cap	Pair Corr
0.88	SWLGX	Schwab Large Cap	Pair Corr
0.88	SWLSX	Schwab Large Cap	Pair Corr
0.8	SWOBX	Schwab Balanced	Pair Corr
0.61	SWORX	Schwab Target 2055	Pair Corr
0.61	SWNRX	Schwab Target 2050	Pair Corr
0.83	SWPPX	Schwab Sp 500	Pair Corr
0.94	SWSSX	Schwab Small Cap	Pair Corr

Moving against Schwab Mutual Fund

0.66	SWAGX	Schwab Aggregate Bond	Pair Corr
0.58	SWISX	Schwab International	Pair Corr
0.56	SWLRX	Schwab Monthly Income	Pair Corr
0.53	SWKRX	Schwab Monthly Income	Pair Corr
0.53	SWJRX	Schwab Monthly Income	Pair Corr
0.45	SWMIX	Laudus International	Pair Corr
0.72	SWSBX	Schwab Short Term	Pair Corr
0.61	SWRSX	Schwab Treasury Inflation	Pair Corr
0.58	SFENX	Schwab Fundamental	Pair Corr

Related Correlations Analysis

	CMIFX	FCLKX	TALCX	TRCPX	PAVLX	PCPAX	LTFOX	PAFDX
CMIFX		-0.36	-0.02	0.31	0.52	0.64	0.04	0.52	CMIFX
FCLKX	-0.36		0.88	0.73	0.56	0.43	0.79	0.55	FCLKX
TALCX	-0.02	0.88		0.91	0.8	0.7	0.89	0.78	TALCX
TRCPX	0.31	0.73	0.91		0.96	0.89	0.89	0.95	TRCPX
PAVLX	0.52	0.56	0.8	0.96		0.97	0.78	0.99	PAVLX
PCPAX	0.64	0.43	0.7	0.89	0.97		0.66	0.98	PCPAX
LTFOX	0.04	0.79	0.89	0.89	0.78	0.66		0.75	LTFOX
PAFDX	0.52	0.55	0.78	0.95	0.99	0.98	0.75		PAFDX
	CMIFX	FCLKX	TALCX	TRCPX	PAVLX	PCPAX	LTFOX	PAFDX

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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

PAFDX	+ 0.99	PAVLX
PAFDX	+ 0.98	PCPAX
PCPAX	+ 0.97	PAVLX
PAVLX	+ 0.96	TRCPX
PAFDX	+ 0.95	TRCPX
TRCPX	+ 0.91	TALCX

High negative correlations

FCLKX	- 0.36	CMIFX
TALCX	- 0.02	CMIFX

Risk-Adjusted Indicators

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

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
CMIFX	0.07	0.01	0.32	(0.62)	0.00	(0.12)	0.10	(0.10)	0.41
FCLKX	0.83	0.00	0.00	(0.04)	0.00	0.00	1.58	(2.15)	5.00
TALCX	0.67	(0.01)	0.00	(0.06)	0.00	0.00	1.36	(1.38)	3.68
TRCPX	0.67	0.04	0.05	0.01	0.86	(0.71)	1.27	(1.53)	3.55
PAVLX	0.63	0.06	0.09	0.06	0.74	(0.72)	1.30	(1.16)	3.20
PCPAX	0.62	0.07	0.09	0.06	0.75	(0.69)	1.23	(1.32)	3.20
LTFOX	0.69	(0.05)	0.00	0.30	0.00	0.00	1.42	(1.60)	3.58
PAFDX	0.62	0.06	0.09	0.06	0.75	(0.67)	1.23	(1.15)	3.38

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