Zacks Small-cap Correlations

ZSCCX Fund

USD 28.68 0.50 1.77%

The current 90-days correlation between Zacks Small Cap and Zacks Small Cap E is 0.14 (i.e., Average diversification). The correlation of Zacks 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.

Zacks Small-cap Correlation With Market

Modest diversification

The correlation between Zacks Small Cap E and DJI is 0.24 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Zacks Small Cap E and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Zacks Small Cap E. 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 Zacks Mutual Fund

0.94	CZOVX	Zacks All Cap	Pair Corr
0.96	ZSCIX	Zacks Small Cap	Pair Corr
0.75	VSMAX	Vanguard Small Cap	Pair Corr
0.72	VSCIX	Vanguard Small Cap	Pair Corr
0.75	VSCPX	Vanguard Small Cap	Pair Corr
0.73	NAESX	Vanguard Small Cap	Pair Corr
0.8	FSSNX	Fidelity Small Cap	Pair Corr
0.76	DFSTX	Us Small Cap	Pair Corr
0.84	PASVX	T Rowe Price	Pair Corr
0.84	PRVIX	T Rowe Price	Pair Corr
0.84	TRZVX	T Rowe Price	Pair Corr
0.89	PRSVX	T Rowe Price	Pair Corr

Moving against Zacks Mutual Fund

0.54	RFBSX	Short Duration Bond	Pair Corr
0.48	FECRX	First Eagle Credit	Pair Corr
0.47	HOSGX	Short Term Government	Pair Corr
0.43	PUCPX	Pimco Unconstrained Bond	Pair Corr
0.39	BRZKX	Blackrock Advantage Esg	Pair Corr
0.55	UMNIX	Lazard Short Duration	Pair Corr
0.44	EPDIX	Europac International	Pair Corr
0.43	WRCGX	William Blair China	Pair Corr
0.38	TRWIX	Transamerica International	Pair Corr

Related Correlations Analysis

	ZSCIX	NEAGX	TDVFX	TRACX	HFCIX
ZSCIX		0.66	0.62	0.83	0.38	ZSCIX
NEAGX	0.66		0.92	0.75	0.51	NEAGX
TDVFX	0.62	0.92		0.83	0.34	TDVFX
TRACX	0.83	0.75	0.83		0.36	TRACX
HFCIX	0.38	0.51	0.34	0.36		HFCIX
	ZSCIX	NEAGX	TDVFX	TRACX	HFCIX

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Risk-Adjusted Indicators

There is a big difference between Zacks Mutual Fund performing well and Zacks 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 Zacks 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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
ZSCIX	1.21	(0.46)	2.02	1.70	(2.92)	15.61
NEAGX	1.36	(0.20)	0.94	2.24	(4.06)	7.46
TDVFX	1.06	(0.20)	(0.31)	1.87	(2.68)	6.18
TRACX	1.05	(0.30)	(0.41)	1.34	(2.36)	11.56
HFCIX	1.13	(0.14)	0.57	2.34	(2.85)	7.13

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