Timothy Small-cap Correlations

TPLNX Fund

USD 18.07 0.06 0.33%

The current 90-days correlation between Timothy Small Cap and Timothy Largemid Cap Value is 0.84 (i.e., Very poor diversification). The correlation of Timothy 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.

Timothy Small-cap Correlation With Market

Poor diversification

The correlation between Timothy Small Cap Value and DJI is 0.68 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Timothy Small Cap Value 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 Timothy Small Cap Value. 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 board of governors.

Moving together with Timothy Mutual Fund

0.91	TIAGX	Timothy Aggressive Growth	Pair Corr
0.93	TLGCX	Timothy Large/mip-cap	Pair Corr
0.93	TLGAX	Timothy Plan Large	Pair Corr
0.82	TLVCX	Timothy Large/mid-cap	Pair Corr
0.81	TLVAX	Timothy Large/mid-cap	Pair Corr
0.8	TMVIX	Timothy Large/mid-cap	Pair Corr
0.93	TPLIX	Timothy Large/mip-cap	Pair Corr
1.0	TPVIX	Timothy Small Cap	Pair Corr
0.91	TAAGX	Timothy Aggressive Growth	Pair Corr
1.0	TSVCX	Timothy Plan Small	Pair Corr
0.91	TCAGX	Timothy Aggressive Growth	Pair Corr
0.93	VSMAX	Vanguard Small Cap	Pair Corr
0.98	VSCIX	Vanguard Small Cap	Pair Corr
0.98	VSCPX	Vanguard Small Cap	Pair Corr
0.98	NAESX	Vanguard Small Cap	Pair Corr

Moving against Timothy Mutual Fund

0.57	TPFIX	Timothy Fixed Income	Pair Corr
0.56	TFIAX	Timothy Fixed Income	Pair Corr
0.55	TFICX	Timothy Fixed Income	Pair Corr
0.42	TPDIX	Timothy Plan Defensive	Pair Corr
0.41	TPDAX	Timothy Plan Defensive	Pair Corr
0.4	TPDCX	Timothy Plan Defensive	Pair Corr
0.35	TPICX	Timothy Plan Interna	Pair Corr
0.32	TPIAX	Timothy Plan Interna	Pair Corr
0.32	TPIIX	Timothy Plan Interna	Pair Corr
0.35	KF	Korea Closed	Pair Corr
0.33	BRUFX	Bruce Fund Bruce	Pair Corr

Related Correlations Analysis

	TLVAX	TLGAX	TAAGX	TPIAX	TSGAX
TLVAX		0.84	0.66	0.19	0.69	TLVAX
TLGAX	0.84		0.93	-0.29	0.24	TLGAX
TAAGX	0.66	0.93		-0.51	-0.02	TAAGX
TPIAX	0.19	-0.29	-0.51		0.82	TPIAX
TSGAX	0.69	0.24	-0.02	0.82		TSGAX
	TLVAX	TLGAX	TAAGX	TPIAX	TSGAX

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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

TAAGX	+ 0.93	TLGAX
TLGAX	+ 0.84	TLVAX
TSGAX	+ 0.82	TPIAX
TSGAX	+ 0.69	TLVAX
TAAGX	+ 0.66	TLVAX
TSGAX	+ 0.24	TLGAX

High negative correlations

TPIAX	- 0.51	TAAGX
TPIAX	- 0.29	TLGAX
TSGAX	- 0.02	TAAGX

Risk-Adjusted Indicators

There is a big difference between Timothy Mutual Fund performing well and Timothy 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 Timothy 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
TLVAX	0.71	(0.02)	0.00	(0.09)	0.00	0.00	1.30	(1.36)	3.36
TLGAX	1.04	(0.07)	0.00	(0.15)	0.00	0.00	1.60	(2.48)	5.29
TAAGX	1.35	(0.17)	0.00	(0.23)	0.00	0.00	2.13	(3.90)	9.35
TPIAX	0.73	0.09	0.12	0.09	0.99	(0.71)	1.30	(1.69)	4.93
TSGAX	0.45	0.02	0.10	(0.02)	0.57	(0.50)	0.93	(0.91)	2.17

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