Smallcap World Correlations

CSPAX Fund

USD 72.11 2.83 3.78%

The current 90-days correlation between Smallcap World and New World Fund is 0.41 (i.e., Very weak diversification). The correlation of Smallcap World 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.

Smallcap World Correlation With Market

Poor diversification

The correlation between Smallcap World Fund and DJI is 0.7 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Smallcap World Fund 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 Smallcap World Fund. 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 nation.

Moving together with Smallcap Mutual Fund

0.74	RNCCX	American Funds Income	Pair Corr
0.73	FPTPX	American Funds Conse	Pair Corr
0.71	CDJAX	American Funds College	Pair Corr
0.65	RNPAX	New Perspective	Pair Corr
0.65	RNPHX	New Perspective	Pair Corr
0.65	RNPGX	New Perspective	Pair Corr
0.65	RNPCX	New Perspective	Pair Corr
0.65	RNPFX	New Perspective	Pair Corr

Related Correlations Analysis

	CNWAX	CFAAX	MFEJX	MFEKX	HSWFX	BHYIX	TRFHX	DFCEX	PEMGX	RFKTX
CNWAX		0.31	0.46	0.46	0.62	0.39	0.76	0.78	0.0	0.65	CNWAX
CFAAX	0.31		0.0	0.0	0.44	0.47	0.45	0.32	-0.43	0.54	CFAAX
MFEJX	0.46	0.0		1.0	0.23	-0.22	0.21	0.49	0.55	0.09	MFEJX
MFEKX	0.46	0.0	1.0		0.24	-0.21	0.21	0.49	0.55	0.1	MFEKX
HSWFX	0.62	0.44	0.23	0.24		0.28	0.53	0.77	0.02	0.71	HSWFX
BHYIX	0.39	0.47	-0.22	-0.21	0.28		0.6	0.28	-0.5	0.78	BHYIX
TRFHX	0.76	0.45	0.21	0.21	0.53	0.6		0.49	-0.15	0.74	TRFHX
DFCEX	0.78	0.32	0.49	0.49	0.77	0.28	0.49		0.05	0.61	DFCEX
PEMGX	0.0	-0.43	0.55	0.55	0.02	-0.5	-0.15	0.05		-0.24	PEMGX
RFKTX	0.65	0.54	0.09	0.1	0.71	0.78	0.74	0.61	-0.24		RFKTX
	CNWAX	CFAAX	MFEJX	MFEKX	HSWFX	BHYIX	TRFHX	DFCEX	PEMGX	RFKTX

Please upgrade your account to get full access to Macroaxis premium features

Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

MFEKX	+ 1.0	MFEJX
DFCEX	+ 0.78	CNWAX
RFKTX	+ 0.78	BHYIX
DFCEX	+ 0.77	HSWFX
TRFHX	+ 0.76	CNWAX
RFKTX	+ 0.74	TRFHX

High negative correlations

PEMGX	- 0.5	BHYIX
PEMGX	- 0.43	CFAAX
RFKTX	- 0.24	PEMGX
BHYIX	- 0.22	MFEJX
BHYIX	- 0.21	MFEKX
PEMGX	- 0.15	TRFHX

Risk-Adjusted Indicators

There is a big difference between Smallcap Mutual Fund performing well and Smallcap World 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 Smallcap World'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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
CNWAX	0.63	(0.10)	0.00	(0.08)	0.00	0.00	1.23	(1.25)	6.33
CFAAX	0.15	0.00	(0.26)	0.03	0.15	(0.18)	0.26	(0.26)	0.88
MFEJX	0.97	(0.23)	0.00	(2.47)	0.00	0.00	1.52	(2.03)	14.03
MFEKX	0.96	(0.22)	0.00	(2.46)	0.00	0.00	1.52	(2.03)	13.48
HSWFX	0.63	(0.04)	(0.05)	0.01	0.90	(0.61)	1.08	(1.50)	3.77
BHYIX	0.14	0.00	(0.23)	0.05	0.06	(0.24)	0.42	(0.28)	1.12
TRFHX	0.43	(0.09)	0.00	(0.12)	0.00	0.00	0.77	(0.88)	2.02
DFCEX	0.59	(0.04)	(0.08)	(0.01)	0.76	(0.67)	1.15	(1.11)	3.79
PEMGX	0.66	(0.21)	0.00	(0.28)	0.00	0.00	1.10	(1.57)	6.80
RFKTX	0.54	(0.02)	(0.04)	0.03	0.76	(0.51)	1.16	(1.22)	3.12

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2025 Macroaxis LLC