Small Cap Correlations

Mutual Funds . USA . 
Fund . Small Cap Stock
USCAX Fund  USD 12.16  0.08  0.65%   
The current 90-days correlation between Small Cap Stock and Ab Bond Inflation is 0.22 (i.e., Modest diversification). The correlation of 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.

Small Cap Correlation With Market

Poor diversification

The correlation between Small Cap Stock and DJI is 0.7 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Small Cap Stock 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 Stock. 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 nation.

Moving together with Small Mutual Fund

  0.89UINQX Usaa Nasdaq 100PairCorr
  0.94SRVEX Victory Diversified StockPairCorr
  0.98SSGSX Victory Sycamore SmallPairCorr
  0.66SBALX Victory StrategicPairCorr
  0.89SSVSX Victory Special ValuePairCorr
  0.79SBFCX Victory Incore InvestmentPairCorr
  0.78SBFMX Victory PortfoliosPairCorr
  0.92MMECX Victory IntegrityPairCorr
  0.96MMEAX Victory IntegrityPairCorr
  0.94RPPRX Victory Rs PartnersPairCorr
  0.82MMIJX Victory Integrity MidPairCorr
  0.96MMMMX Victory IntegrityPairCorr
  0.96MMMSX Victory IntegrityPairCorr
  0.95MNNAX Victory Munder MultiPairCorr
  0.94RSEGX Victory Rs SmallPairCorr
  0.93RSDGX Victory Rs SelectPairCorr
  0.86RSGGX Victory Rs GlobalPairCorr
  0.93RSGFX Victory Rs SelectPairCorr
  0.94RSGRX Victory Rs GrowthPairCorr
  0.9RSIFX Victory Rs SciencePairCorr
  0.73RSINX Victory Rs InvestorsPairCorr
  0.73RSIYX Victory Rs InvestorsPairCorr
  0.94RSMMX Victory Rs SmallPairCorr
  0.92RSMOX Victory Rs MidPairCorr
  0.95RSPFX Victory Rs PartnersPairCorr
  0.64RSNRX Victory Global NaturalPairCorr

Moving against Small Mutual Fund

  0.76IPFIX Victory IncorePairCorr
  0.72RSDYX Victory Incore LowPairCorr
  0.62UITBX Intermediate Term BondPairCorr
  0.6UITCX Usaa Intermediate TermPairCorr
  0.56UINCX Income Fund IncomePairCorr
  0.45RSENX Victory Sophus EmergingPairCorr
  0.42RSFYX Victory Floating RatePairCorr
  0.59RSIGX Victory Rs InternationalPairCorr
  0.54UPMMX Precious Metals AndPairCorr
  0.4RSYYX Victory High YieldPairCorr
  0.39RSFLX Victory Floating RatePairCorr
  0.36RSFMX Victory Floating RatePairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

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

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