Small Cap Correlations

Mutual Funds . USA . 
Fund . Small Cap Value
ACVIX Fund  USD 10.09  0.07  0.69%   
The current 90-days correlation between Small Cap Value and Metropolitan West High is 0.41 (i.e., Very weak 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 Value and DJI is 0.77 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Small Cap Value and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in 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 gross domestic product.

Moving together with Small Mutual Fund

  0.96AMDVX Mid Cap ValuePairCorr
  0.91AMEIX Equity GrowthPairCorr
  0.93AMGIX Income GrowthPairCorr
  0.9AMKIX Emerging MarketsPairCorr
  0.95TWADX Value Fund APairCorr
  0.89TWCCX Ultra Fund CPairCorr
  0.89TWCAX Select Fund APairCorr
  0.89TWCIX Select Fund InvestorPairCorr
  0.89TWCGX Growth Fund InvestorPairCorr
  0.61TWAVX Short Term GovernmentPairCorr
  0.96AMVYX Mid Cap ValuePairCorr
  0.96AMVRX Mid Cap ValuePairCorr
  0.91TWBIX Balanced Fund InvestorPairCorr
  0.96AMVGX Mid Cap ValuePairCorr
  0.94TWEAX Equity IncomePairCorr
  0.94TWEIX Equity IncomePairCorr
  0.89TWCUX Ultra Fund InvestorPairCorr
  0.79TWGAX International GrowthPairCorr
  0.89TWGIX Growth Fund IPairCorr
  0.89TWGGX Global GrowthPairCorr
  0.79TWIEX International GrowthPairCorr
  0.89TWHIX Heritage Fund InvestorPairCorr
  0.9TWMIX Emerging MarketsPairCorr
  0.9TWRCX Growth Fund CPairCorr
  0.83TWTCX Intermediate Term TaxPairCorr
  0.85TWTIX Intermediate Term TaxPairCorr
  0.91TWSCX Strategic Allocation:PairCorr
  0.91TWSAX Strategic Allocation:PairCorr
  0.91TWSMX Strategic Allocation:PairCorr
  0.89TWSIX Select Fund IPairCorr
  0.65TWUSX Short Term GovernmentPairCorr
  0.95TWVLX Value Fund InvestorPairCorr
  0.89TWUAX Ultra Fund APairCorr
  0.89TWUIX Ultra Fund IPairCorr
  0.65TWUOX Short Term GovernmentPairCorr
  0.85TWWOX Intermediate Term TaxPairCorr
  0.89NPHIX High Income FundPairCorr

Related Correlations Analysis

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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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