Conestoga Small Correlations

Mutual Funds . USA . 
Fund . Conestoga Small Cap
CCASX Fund  USD 71.05  1.02  1.42%   
The current 90-days correlation between Conestoga Small Cap and Old Westbury Municipal is 0.03 (i.e., Significant diversification). The correlation of Conestoga 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.

Conestoga Small Correlation With Market

Good diversification

The correlation between Conestoga Small Cap and DJI is -0.12 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Conestoga 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 Conestoga 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 Conestoga Mutual Fund

  0.82CMCMX Conestoga Micro CapPairCorr
  0.82CMIRX Conestoga Micro CapPairCorr
  0.94CCMAX Columbia Large CapPairCorr
  0.88CCSMX Conestoga Smid CapPairCorr
  0.88CCSGX Conestoga Smid CapPairCorr
  0.84VSGAX Vanguard Small CapPairCorr
  0.81VSGIX Vanguard Small CapPairCorr
  0.81VISGX Vanguard Small CapPairCorr
  0.81VEXPX Vanguard ExplorerPairCorr
  0.81VEXRX Vanguard ExplorerPairCorr
  0.76JGMIX Janus TritonPairCorr
  0.76JGMRX Janus TritonPairCorr
  0.79JGMAX Janus TritonPairCorr
  0.76JGMCX Janus TritonPairCorr
  0.79JGMNX Janus TritonPairCorr
  0.8MITTX Massachusetts InvestorsPairCorr
  0.7SWCGX Schwab MarkettrackPairCorr
  0.64USDIX Ubs Ultra ShortPairCorr
  0.67MHYIX Mainstay High YieldPairCorr
  0.68MCYIX Mainstay CandriamPairCorr
  0.78MIFIX Miller Intermediate BondPairCorr
  0.7FMSDX Fidelity Advisor MultiPairCorr
  0.78VFINX Vanguard 500 IndexPairCorr
  0.78SMGAX Saat Servative StrategyPairCorr
  0.76GOPCX Aberdeen China OpptyPairCorr
  0.77FBKFX Fidelity BalancedPairCorr
  0.8CNPCX New PerspectivePairCorr
  0.8FIFRX Franklin GrowthPairCorr

Moving against Conestoga Mutual Fund

  0.62GPMFX Guidepath Managed FuturesPairCorr
  0.59PQTAX Pimco Trends ManagedPairCorr
  0.55PQTNX Pimco Trends ManagedPairCorr
  0.54PQTIX Aa Pimco TrPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Conestoga Mutual Fund performing well and Conestoga 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 Conestoga 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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