Large Cap Correlations

Mutual Funds . USA . 
Fund . Large Cap Fund
FMIQX Fund  USD 15.40  0.01  0.07%   
The current 90-days correlation between Large Cap Fund and Ab All Market is 0.55 (i.e., Very weak diversification). The correlation of Large Cap 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.

Large Cap Correlation With Market

Almost no diversification

The correlation between Large Cap Fund and DJI is 0.92 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Large Cap Fund and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Large Cap 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 producer price index.

Moving together with Large Mutual Fund

  0.94FMIYX International FundPairCorr
  0.98FMIUX Common StockPairCorr
  0.98FMIMX Common StockPairCorr
  0.94FMIJX International FundPairCorr
  1.0FMIHX Large Cap FundPairCorr
  0.95FMIFX Fidelity Municipal IncomePairCorr
  0.98VTSAX Vanguard Total StockPairCorr
  0.98VFIAX Vanguard 500 IndexPairCorr
  0.99VTSMX Vanguard Total StockPairCorr
  0.99VITSX Vanguard Total StockPairCorr
  0.99VSMPX Vanguard Total StockPairCorr
  0.99VSTSX Vanguard Total StockPairCorr
  0.98VFINX Vanguard 500 IndexPairCorr
  0.98VFFSX Vanguard 500 IndexPairCorr
  0.98VINIX Vanguard InstitutionalPairCorr
  0.98VIIIX Vanguard InstitutionalPairCorr
  0.97VTISX Vanguard Total InterPairCorr
  0.97VTSNX Vanguard Total InterPairCorr
  0.97VTPSX Vanguard Total InterPairCorr
  0.96HERSX Hartford Emerging MarketsPairCorr
  0.95DDJCX Ddj Opportunistic HighPairCorr
  0.97IHSSX Hartford SmallPairCorr
  0.98POMDX Pacific Funds PortfolioPairCorr
  0.88PURZX Prudential Global RealPairCorr
  0.89NMMGX Multi Manager GlobalPairCorr
  0.97GITAX Goldman Sachs TechnologyPairCorr
  0.98HFLGX Hennessy Nerstone LargePairCorr
  0.98SSDEX State Street TargetPairCorr
  0.98ILGRX Ivy Large CapPairCorr
  0.63ACITX Inflation Adjusted BondPairCorr
  0.99LTFPX Principal Lifetime 2055PairCorr
  0.97HSPGX Emerald GrowthPairCorr
  0.84CIRRX Cohen Steers RealPairCorr
  0.9FSUTX Utilities PortfolioPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Large Mutual Fund performing well and Large Cap 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 Large Cap'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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