Small Cap Correlations

Mutual Funds . USA . 
Fund . Small Cap Equity
GSCYX Fund  USD 17.59  0.11  0.62%   
The current 90-days correlation between Small Cap Equity and Hartford Healthcare Hls is -0.14 (i.e., Good diversification). The correlation of Small 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.

Small Cap Correlation With Market

Very poor diversification

The correlation between Small Cap Equity and DJI is 0.85 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Small Cap Equity and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Small Cap Equity. 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 manufacturing.

Moving together with SMALL Mutual Fund

  0.99GCOZX Growth AllocationPairCorr
  0.96GDMYX Defensive Market StrPairCorr
  0.98GDMZX Defensive Market StrPairCorr
  0.92GVEYX Value Equity InstituPairCorr
  0.93GVEZX Value Equity InvestorPairCorr
  0.96GVIYX Guidestone Value EquityPairCorr
  0.96GVIZX Guidestone Value EquityPairCorr
  0.98GEIYX Guidestone Growth EquityPairCorr
  0.96GEIZX Guidestone Growth EquityPairCorr
  0.98GEMYX Emerging Markets EquityPairCorr
  0.98GEMZX Emerging Markets EquityPairCorr
  0.99GEQYX Equity Index InstituPairCorr
  0.96GEQZX Equity Index InvestorPairCorr
  0.97GFIZX Conservative AllocationPairCorr
  0.97GGBZX Aggressive AllocationPairCorr
  0.75GGBEX Global Bond FundPairCorr
  0.75GGBFX Global Bond FundPairCorr
  0.98GGEYX Guidestone Fds GrowthPairCorr
  0.96GGEZX Growth Equity InvestorPairCorr
  0.96GGIZX Balanced AllocationPairCorr
  0.99GGRYX Growth AllocationPairCorr
  0.94GIEYX International EquityPairCorr
  0.94GIEZX International EquityPairCorr
  0.95GIIYX International EquityPairCorr
  0.93GIIZX Guidestone Funds IntPairCorr
  0.85GLDYX Low Duration BondPairCorr
  0.84GLDZX Low Duration BondPairCorr
  0.73GMDYX Medium Duration BondPairCorr
  0.71GMDZX Medium Duration BondPairCorr
  0.99GMFZX Mydestination 2045PairCorr
  0.96GMEYX Guidestone Funds ImpactPairCorr
  0.98GMEZX Guidestone Funds ImpactPairCorr
  0.97GMHYX Mydestination 2035PairCorr
  0.96GMHZX Mydestination 2035PairCorr
  0.99GMGYX Mydestination 2055PairCorr
  0.99GMGZX Mydestination 2055PairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between SMALL Mutual Fund performing well and Small 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 Small 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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