Large Cap Correlations

Mutual Funds . USA . 
Fund . Large Cap Fund
FMIQX Fund  USD 14.80  0.11  0.74%   
The current 90-days correlation between Large Cap Fund and Pace Global Real is -0.12 (i.e., Good 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 0.98 (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

  0.95FMIYX International FundPairCorr
  0.97FMIMX Common StockPairCorr
  0.95FMIJX International FundPairCorr
  1.0FMIHX Large Cap FundPairCorr
  0.87VTSAX Vanguard Total StockPairCorr
  0.97VFIAX Vanguard 500 IndexPairCorr
  0.87VTSMX Vanguard Total StockPairCorr
  0.97VITSX Vanguard Total StockPairCorr
  0.87VSMPX Vanguard Total StockPairCorr
  0.87VSTSX Vanguard Total StockPairCorr
  0.97VFINX Vanguard 500 IndexPairCorr
  0.87VFFSX Vanguard 500 IndexPairCorr
  0.97VINIX Vanguard InstitutionalPairCorr
  0.97VIIIX Vanguard InstitutionalPairCorr
  0.7BTMPX Ishares Msci EafePairCorr
  0.64BTMKX Blackrock InternationalPairCorr
  0.7MDIIX Blackrock Intern IndexPairCorr
  0.66SPMPX Invesco Steelpath MlpPairCorr
  0.66MLPNX Oppenheimer Steelpath MlpPairCorr
  0.65MLPMX Oppenheimer Steelpath MlpPairCorr
  0.65SPMJX Invesco Steelpath MlpPairCorr
  0.61FMNEX Free Market InternationalPairCorr
  0.7INTIX Voya International IndexPairCorr
  0.8BRKBX Mfs Blended ResearchPairCorr
  0.66CIVKX American Funds InterPairCorr
  0.67VGTSX Vanguard Total InterPairCorr
  0.74FVOKX Oklahoma College SavingsPairCorr
  0.76GAB Gabelli Equity TrustPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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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