Mid Cap Correlations

The current 90-days correlation between Mid Cap Growth and Calamos Growth Fund is -0.13 (i.e., Good diversification). The correlation of Mid 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.

Mid Cap Correlation With Market

Very weak diversification

The correlation between Mid Cap Growth and DJI is 0.51 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mid Cap Growth and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios. 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 Mid Mutual Fund

0.95	TVOYX	Touchstone Small Cap	Pair Corr
1.0	TEGAX	Mid Cap Growth	Pair Corr
1.0	TEGIX	Mid Cap Growth	Pair Corr
1.0	TEGYX	Mid Cap Growth	Pair Corr
0.96	SAGWX	Sentinel Small Pany	Pair Corr
0.96	SSCOX	Sentinel Small Pany	Pair Corr
0.96	SSRRX	Sentinel Small	Pair Corr
0.74	TFFYX	Touchstone Focused	Pair Corr
0.84	SBACX	Sentinel Balanced	Pair Corr
0.93	TFOAX	Touchstone Focused	Pair Corr
0.97	CFSIX	Touchstone Sands Capital	Pair Corr
0.94	TGVCX	Growth Opportunities	Pair Corr
0.88	TGVFX	Growth Opportunities	Pair Corr
0.93	SCRLX	Sentinel Mon Stock	Pair Corr
0.94	SCSCX	Sentinel Mon Stock	Pair Corr
0.96	TICSX	Touchstone Small Pany	Pair Corr
0.83	SEBLX	Sentinel Balanced	Pair Corr
0.93	SENCX	Sentinel Mon Stock	Pair Corr
0.97	CISGX	Touchstone Sands Capital	Pair Corr
0.85	TMAPX	Touchstone Mid Cap	Pair Corr
0.85	TMCTX	Touchstone Mid Cap	Pair Corr
0.91	TMCPX	Touchstone Mid Cap	Pair Corr

Moving against Mid Mutual Fund

0.5	SSSGX	Sentinel Low Duration	Pair Corr
0.47	FRACX	Touchstone Flexible	Pair Corr
0.47	TFSLX	Touchstone Flexible	Pair Corr
0.56	TIMPX	Touchstone Funds	Pair Corr
0.54	SWRLX	Sentinel International	Pair Corr
0.5	SWFCX	Sentinel International	Pair Corr
0.46	FFSAX	Touchstone Flexible	Pair Corr

Related Correlations Analysis

	CVGCX	TEGAX	PQNCX	NYVCX	CVTCX
CVGCX		0.96	0.63	0.48	0.98	CVGCX
TEGAX	0.96		0.72	0.64	0.98	TEGAX
PQNCX	0.63	0.72		0.83	0.75	PQNCX
NYVCX	0.48	0.64	0.83		0.61	NYVCX
CVTCX	0.98	0.98	0.75	0.61		CVTCX
	CVGCX	TEGAX	PQNCX	NYVCX	CVTCX

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Risk-Adjusted Indicators

There is a big difference between Mid Mutual Fund performing well and Mid 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 Mid 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
CVGCX	1.12	(0.20)	0.00	1.57	0.00	0.00	1.70	(2.62)	6.29
TEGAX	1.38	(0.05)	0.00	(0.12)	0.00	0.00	2.29	(4.27)	7.24
PQNCX	0.67	0.04	0.00	(0.02)	0.00	0.00	1.20	(1.31)	2.91
NYVCX	0.70	0.09	0.11	0.04	0.89	(0.75)	1.61	(1.54)	4.28
CVTCX	0.70	(0.04)	0.00	(0.13)	0.00	0.00	1.28	(1.61)	4.00

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