Congress Mid Correlations

Mutual Funds . USA . 
Fund . Congress Mid Cap
CMIDX Fund  USD 21.65  0.04  0.19%   
The current 90-days correlation between Congress Mid Cap and Congress Mid Cap is 0.93 (i.e., Almost no diversification). The correlation of Congress Mid 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.

Congress Mid Correlation With Market

Poor diversification

The correlation between Congress Mid Cap and DJI is 0.77 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Congress Mid 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 Congress Mid 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 unemployment.

Moving together with Congress Mutual Fund

  0.68IMIDX Congress Mid CapPairCorr
  0.78CMLIX Congress Large CapPairCorr
  0.94CAMLX Congress Large CapPairCorr
  0.94CSMCX Century Small CapPairCorr
  0.65CSMVX Century Small CapPairCorr
  0.65PAMCX T Rowe PricePairCorr
  0.65RRMGX T Rowe PricePairCorr
  0.65TRQZX T Rowe PricePairCorr
  0.65RPMGX T Rowe PricePairCorr
  0.63PRJIX T Rowe PricePairCorr
  0.63PRNHX T Rowe PricePairCorr
  0.63TRUZX T Rowe PricePairCorr
  0.68PCBIX Midcap Fund InstitutionalPairCorr
  0.69PEMGX Midcap Fund ClassPairCorr
  0.69PMBCX Midcap Fund ClassPairCorr
  0.63ERH Allspring Utilities AndPairCorr
  0.61IVHIX Ivy High IncomePairCorr
  0.61IHIFX Ivy High IncomePairCorr
  0.61WRHIX Ivy High IncomePairCorr
  0.61WHIAX Ivy High IncomePairCorr
  0.93GCMUX Goldman Sachs MidPairCorr
  0.64NTDSX Nationwide DestinationPairCorr
  0.64CBLSX Cb Large CapPairCorr
  0.75PPILX Deutsche Short DurationPairCorr
  0.69MIGFX Massachusetts InvestorsPairCorr
  0.63IASMX Guinness Atkinson Asia Steady GrowthPairCorr
  0.62FFC Flaherty CrumrinePairCorr
  0.67ROGSX Red Oak TechnologyPairCorr
  0.66AMFCX American MutualPairCorr
  0.64CYYYX Columbia ThermostatPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Congress Mutual Fund performing well and Congress Mid 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 Congress Mid'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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