Adirondack Small Correlations

Mutual Funds . USA . 
Fund . Adirondack Small Cap
ADKSX Fund  USD 31.40  0.18  0.57%   
The current 90-days correlation between Adirondack Small Cap and Invesco Technology Fund is 0.67 (i.e., Poor diversification). The correlation of Adirondack Small 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.

Adirondack Small Correlation With Market

Very poor diversification

The correlation between Adirondack Small Cap and DJI is 0.81 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Adirondack Small Cap 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 Adirondack Small Cap. 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 state.

Moving together with Adirondack Mutual Fund

  0.99VSIIX Vanguard Small CapPairCorr
  0.99VISVX Vanguard Small CapPairCorr
  0.99DFSVX Us Small CapPairCorr
  0.99DFFVX Us Targeted ValuePairCorr
  0.97UBVCX Undiscovered ManagersPairCorr
  0.97UBVAX Undiscovered ManagersPairCorr
  0.97UBVSX Undiscovered ManagersPairCorr
  0.99AVFIX American Beacon SmallPairCorr
  0.87FSMMX Fs Multi StrategyPairCorr
  0.92BTMPX Ishares Msci EafePairCorr
  0.92BTMKX Blackrock InternationalPairCorr
  0.92MDIIX Blackrock Intern IndexPairCorr
  0.68SPMPX Invesco Steelpath MlpPairCorr
  0.69MLPNX Oppenheimer Steelpath MlpPairCorr
  0.67MLPMX Oppenheimer Steelpath MlpPairCorr
  0.67SPMJX Invesco Steelpath MlpPairCorr
  0.86TSDHX Tiaa Cref ShortPairCorr
  0.97VSTSX Vanguard Total StockPairCorr
  0.99VSPMX Vanguard Sp MidPairCorr
  0.96IHSVX Hartford SmallPairCorr
  0.91SDHCX Lord Abbett ShortPairCorr
  0.96FTCHX Invesco TechnologyPairCorr
  0.97NEXIX Shelton Green AlphaPairCorr
  0.89PFIIX Pimco Floating IncomePairCorr
  0.97TLACX Transamerica Large CorePairCorr
  0.75VANTX Jpmorgan New YorkPairCorr
  0.99FESCX First Eagle SmallPairCorr
  0.89FRIQX Fidelity Real EstatePairCorr
  0.88GCINX Green Century MsciPairCorr
  0.79LIONX Issachar Fund IssacharPairCorr
  0.91AIMCX Diversified MunicipalPairCorr
  0.95AVEAX Ave Maria FocusedPairCorr
  0.98BUFDX Buffalo Dividend FocusPairCorr
  0.98LFTKX Mfs Lifetime 2065PairCorr
  0.82PIMIX Pimco IncomePairCorr
  0.96QMORX Aqr Large CapPairCorr
  0.96FSPTX Technology PortfolioPairCorr
  0.96SMYIX Qs Global EquityPairCorr
  0.92FMUSX Federated MunicipalPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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