Conestoga Smid Correlations

Mutual Funds . USA . 
Fund . Conestoga Smid Cap
CCSGX Fund  USD 25.78  0.27  1.04%   
The current 90-days correlation between Conestoga Smid Cap and Blackrock High Income is 0.83 (i.e., Very poor diversification). The correlation of Conestoga Smid 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 Smid Correlation With Market

Very poor diversification

The correlation between Conestoga Smid Cap and DJI is 0.86 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Conestoga Smid 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 Smid 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 price.

Moving together with Conestoga Mutual Fund

  0.96CMCMX Conestoga Micro CapPairCorr
  0.96CMIRX Conestoga Micro CapPairCorr
  0.94CCASX Conestoga Small CapPairCorr
  0.95CCMAX Columbia Large CapPairCorr
  1.0CCSMX Conestoga Smid CapPairCorr
  0.96PAMCX T Rowe PricePairCorr
  0.96RRMGX T Rowe PricePairCorr
  0.96TRQZX T Rowe PricePairCorr
  0.96RPMGX T Rowe PricePairCorr
  0.96PRJIX T Rowe PricePairCorr
  0.96PRNHX T Rowe PricePairCorr
  0.96TRUZX T Rowe PricePairCorr
  0.97PCBIX Midcap Fund InstitutionalPairCorr
  0.97PEMGX Midcap Fund ClassPairCorr
  0.97PMBCX Midcap Fund ClassPairCorr
  0.94VTSAX Vanguard Total StockPairCorr
  0.93VFIAX Vanguard 500 IndexPairCorr
  0.94VTSMX Vanguard Total StockPairCorr
  0.94VSMPX Vanguard Total StockPairCorr
  0.94VSTSX Vanguard Total StockPairCorr
  0.94VITSX Vanguard Total StockPairCorr
  0.93VFINX Vanguard 500 IndexPairCorr
  0.93VFFSX Vanguard 500 IndexPairCorr
  0.91VGTSX Vanguard Total InterPairCorr
  0.91VTIAX Vanguard Total InterPairCorr
  0.95GVALX Gotham Large ValuePairCorr
  0.81PPILX Deutsche Short DurationPairCorr
  0.94MITTX Massachusetts InvestorsPairCorr
  0.95BGEFX Baillie Gifford EafePairCorr
  0.86SENYX Stet New YorkPairCorr
  0.88MMUJX Mfs UtilitiesPairCorr
  0.92VLSMX Valic Company IPairCorr
  0.91FAQTX American Funds 2035PairCorr
  0.93BSPSX Blackrock Sp 500PairCorr
  0.94CNPCX New PerspectivePairCorr
  0.92CYYYX Columbia ThermostatPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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