Conestoga Small Correlations

Mutual Funds . USA . 
Fund . Conestoga Small Cap
CCASX Fund  USD 71.07  0.54  0.77%   
The current 90-days correlation between Conestoga Small Cap and City National Rochdale is 0.26 (i.e., Modest 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 -0.15 (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

  0.93CCMAX Columbia Large CapPairCorr
  0.86CCSMX Conestoga Smid CapPairCorr
  0.85CCSGX Conestoga Smid CapPairCorr
  0.76VSGAX Vanguard Small CapPairCorr
  0.76VSGIX Vanguard Small CapPairCorr
  0.76VISGX Vanguard Small CapPairCorr
  0.76VEXPX Vanguard ExplorerPairCorr
  0.76VEXRX Vanguard ExplorerPairCorr
  0.7JGMIX Janus TritonPairCorr
  0.7JGMRX Janus TritonPairCorr
  0.75JGMAX Janus TritonPairCorr
  0.75JGMCX Janus TritonPairCorr
  0.75JGMNX Janus TritonPairCorr
  0.71FTYPX Fidelity Freedom IndexPairCorr
  0.71FFBTX Fidelity Freedom BlendPairCorr
  0.83GCAVX Gmo Small CapPairCorr
  0.74GQLOX Gmo Quality FundPairCorr
  0.69GHVIX Gmo High YieldPairCorr
  0.75GMCQX Gmo Equity AllocationPairCorr
  0.72ARGFX Ariel Fund InvestorPairCorr
  0.79NBNAX Neuberger Berman IntPairCorr
  0.64IEMGX Voya Multi ManagerPairCorr
  0.8QUASX Ab Small CapPairCorr
  0.65APPIX Appleseed Fund AppleseedPairCorr
  0.64LIRIX Blackrock Lifepath IdxPairCorr
  0.73TSLCX Transamerica Small CapPairCorr
  0.74GQGPX Gqg Partners EmergPairCorr
  0.72VFIAX Vanguard 500 IndexPairCorr
  0.71JFBUX Jpmorgan Investor GrowthPairCorr
  0.73TRFJX T Rowe PricePairCorr

Moving against Conestoga Mutual Fund

  0.58GABFX Gmo Asset AllocationPairCorr
  0.31VWTFX Tomorrows Scholar CollegePairCorr

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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