Conestoga Smid Correlations

Mutual Funds . USA . 
Fund . Conestoga Smid Cap
CCSMX Fund  USD 25.15  0.23  0.92%   
The current 90-days correlation between Conestoga Smid Cap and Conestoga Micro Cap is 0.88 (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 population.

Moving together with CONESTOGA Mutual Fund

  0.95CMCMX Conestoga Micro CapPairCorr
  0.95CMIRX Conestoga Micro CapPairCorr
  0.88CCASX Conestoga Small Cap Potential GrowthPairCorr
  0.9CCMAX Columbia Large CapPairCorr
  1.0CCSGX Conestoga Smid CapPairCorr
  0.96PAMCX T Rowe PricePairCorr
  0.96RRMGX T Rowe PricePairCorr
  0.96TRQZX T Rowe PricePairCorr
  0.96RPMGX T Rowe PricePairCorr
  0.91PRJIX T Rowe PricePairCorr
  0.96PRNHX T Rowe PricePairCorr
  0.96TRUZX T Rowe PricePairCorr
  0.92PCBIX Midcap Fund InstitutionalPairCorr
  0.92PEMGX Midcap Fund ClassPairCorr
  0.96PMBCX Midcap Fund ClassPairCorr
  0.9VTSAX Vanguard Total StockPairCorr
  0.92VFIAX Vanguard 500 IndexPairCorr
  0.9VTSMX Vanguard Total StockPairCorr
  0.9VSMPX Vanguard Total StockPairCorr
  0.9VSTSX Vanguard Total StockPairCorr
  0.93VITSX Vanguard Total StockPairCorr
  0.92VFINX Vanguard 500 IndexPairCorr
  0.89VFFSX Vanguard 500 IndexPairCorr
  0.88VGTSX Vanguard Total InterPairCorr
  0.88VTIAX Vanguard Total InterPairCorr
  0.9GVALX Gotham Large ValuePairCorr
  0.8PPILX Deutsche Short DurationPairCorr
  0.89MITTX Massachusetts InvestorsPairCorr
  0.95BGEFX Baillie Gifford EafePairCorr
  0.85SENYX Stet New YorkPairCorr
  0.86MMUJX Mfs UtilitiesPairCorr
  0.89VLSMX Valic Company IPairCorr
  0.9FAQTX American Funds 2035PairCorr
  0.89BSPSX Blackrock Sp 500PairCorr
  0.93CNPCX New PerspectivePairCorr
  0.91CYYYX 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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