Mid Cap Correlations

Mutual Funds . USA . 
Fund . Mid Cap Value
AMVYX Fund  USD 16.13  0.11  0.69%   
The current 90-days correlation between Mid Cap Value and Prudential High Yield is -0.06 (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

Very poor diversification

The correlation between Mid Cap Value and DJI is 0.85 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mid 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 Mid 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 manufacturing.

Moving together with Mid Mutual Fund

  0.94AMDVX Mid Cap ValuePairCorr
  0.96AMEIX Equity GrowthPairCorr
  0.98AMGIX Income GrowthPairCorr
  0.61CDBCX Diversified BondPairCorr
  0.94AMKIX Emerging MarketsPairCorr
  0.94TWADX Value Fund APairCorr
  0.96TWCCX Ultra Fund CPairCorr
  0.93TWCAX Select Fund APairCorr
  0.96TWCIX Select Fund InvestorPairCorr
  0.96TWCGX Growth Fund InvestorPairCorr
  0.66TWAVX Short Term GovernmentPairCorr
  0.94AMVRX Mid Cap ValuePairCorr
  0.96TWBIX Balanced Fund InvestorPairCorr
  0.94AMVGX Mid Cap ValuePairCorr
  0.98TWEAX Equity IncomePairCorr
  0.93TWEIX Equity IncomePairCorr
  0.96TWCUX Ultra Fund InvestorPairCorr
  0.86TWGAX International GrowthPairCorr
  0.96TWGIX Growth Fund IPairCorr
  0.95TWGGX Global GrowthPairCorr
  0.87TWIEX International GrowthPairCorr
  0.95TWHIX Heritage Fund InvestorPairCorr
  0.94TWMIX Emerging MarketsPairCorr
  0.96TWRCX Growth Fund CPairCorr
  0.83TWTCX Intermediate Term TaxPairCorr
  0.86TWTIX Intermediate Term TaxPairCorr
  0.93TWSCX Strategic Allocation:PairCorr
  0.94TWSAX Strategic Allocation:PairCorr
  0.94TWSMX Strategic Allocation:PairCorr
  0.96TWSIX Select Fund IPairCorr
  0.67TWUSX Short Term GovernmentPairCorr
  0.99TWVLX Value Fund InvestorPairCorr
  0.93TWUAX Ultra Fund APairCorr
  0.96TWUIX Ultra Fund IPairCorr
  0.66TWUOX Short Term GovernmentPairCorr
  0.86TWWOX Intermediate Term TaxPairCorr
  0.93NPHIX High Income FundPairCorr

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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