Mid Cap Correlations

Mutual Funds . USA . 
Fund . Mid Cap Index
VMIDX Fund  USD 23.02  0.17  0.73%   
The current 90-days correlation between Mid Cap Index and Short Term Government Fund is -0.05 (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

Good diversification

The correlation between Mid Cap Index and DJI is -0.15 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mid Cap Index 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 Mid Cap Index. 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 unemployment.

Moving together with Mid Mutual Fund

  0.86VMSGX Mid Cap StrategicPairCorr
  0.97VAPPX Valic Company IPairCorr
  0.89VSRDX Valic Company IPairCorr
  0.87VSTIX Stock Index FundPairCorr
  0.92VSSVX Small Cap SpecialPairCorr
  0.88VBCVX Broad Cap ValuePairCorr
  0.89VCAAX Asset AllocationPairCorr
  0.98VCBCX Blue Chip GrowthPairCorr
  0.98VCGAX Growth IncomePairCorr
  0.66VCIGX Valic Company IPairCorr
  0.9VCNIX Nasdaq 100 IndexPairCorr
  0.86VCSTX Science TechnologyPairCorr
  0.98VCSLX Small Cap IndexPairCorr
  0.91VCULX Growth Fund GrowthPairCorr
  0.86VDAFX Dynamic AllocationPairCorr
  1.0VVMCX Valic Company IPairCorr
  0.93VVSGX Valic Company IPairCorr
  0.68VVSCX Valic Company IPairCorr
  0.75VLAGX Valic Company IPairCorr
  0.89VLCGX Large Capital GrowthPairCorr
  0.81VIMAX Vanguard Mid CapPairCorr
  0.8VIMSX Vanguard Mid CapPairCorr
  0.8VMCPX Vanguard Mid CapPairCorr
  0.8VMCIX Vanguard Mid CapPairCorr

Moving against Mid Mutual Fund

  0.68VCGSX Government SecuritiesPairCorr
  0.67VCIFX International GovernmentPairCorr
  0.65VCBDX Valic Company IPairCorr
  0.61VCTPX Inflation ProtectedPairCorr
  0.55VCIEX International EquitiesPairCorr
  0.53VCSOX Global Social AwarenessPairCorr
  0.51VCGEX Emerging EconomiesPairCorr
  0.51VIOPX Valic Company IPairCorr

Related Correlations Analysis

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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.

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