Conestoga Micro Correlations

Mutual Funds . USA . 
Fund . Conestoga Micro Cap
CMIRX Fund  USD 8.60  0.11  1.26%   
The current 90-days correlation between Conestoga Micro Cap and Conestoga Small Cap is 0.92 (i.e., Almost no diversification). The correlation of Conestoga Micro 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 Micro Correlation With Market

Poor diversification

The correlation between Conestoga Micro Cap and DJI is 0.75 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Conestoga Micro 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 Micro 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 metropolitan statistical area.

Moving together with Conestoga Mutual Fund

  1.0CMCMX Conestoga Micro CapPairCorr
  0.84CCASX Conestoga Small CapPairCorr
  0.88CCMAX Columbia Large CapPairCorr
  0.96CCSMX Conestoga Smid CapPairCorr
  0.96CCSGX Conestoga Smid CapPairCorr
  0.98VSGAX Vanguard Small CapPairCorr
  0.98VSGIX Vanguard Small CapPairCorr
  0.98VISGX Vanguard Small CapPairCorr
  0.98VEXPX Vanguard ExplorerPairCorr
  0.98VEXRX Vanguard ExplorerPairCorr
  0.97JGMIX Janus TritonPairCorr
  0.97JGMRX Janus TritonPairCorr
  0.97JGMAX Janus TritonPairCorr
  0.97JGMCX Janus TritonPairCorr
  0.97JGMNX Janus TritonPairCorr
  0.75GAAKX Gmo Alternative AlloPairCorr
  0.74GAAGX Gmo Alternative AlloPairCorr
  0.98MITTX Massachusetts InvestorsPairCorr
  0.95SWCGX Schwab MarkettrackPairCorr
  0.91USDIX Ubs Ultra ShortPairCorr
  0.95MHYIX Mainstay High YieldPairCorr
  0.92VWINX Vanguard Wellesley IncomePairCorr
  0.95MCYIX Mainstay CandriamPairCorr
  0.97MIFIX Miller Intermediate BondPairCorr
  0.68PINFX Invesco Multi AssetPairCorr
  0.95FMSDX Fidelity Advisor MultiPairCorr
  0.98VFINX Vanguard 500 IndexPairCorr
  0.96SMGAX Saat Servative StrategyPairCorr
  0.89GOPCX Aberdeen China OpptyPairCorr
  0.97FBKFX Fidelity BalancedPairCorr
  0.97CNPCX New PerspectivePairCorr
  0.98FIFRX Franklin GrowthPairCorr

Moving against Conestoga Mutual Fund

  0.48GPMFX Guidepath Managed FuturesPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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