Small Cap Correlations

Mutual Funds . USA . 
Fund . Small Cap Value Series
LRSFX Fund  USD 15.28  0.09  0.59%   
The current 90-days correlation between Small Cap Value and Pimco Energy Tactical is 0.29 (i.e., Modest 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 Value Series and DJI is 0.84 (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 Value Series and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Small Cap Value Series. 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 census.

Moving together with Small Mutual Fund

  0.62ELMFX Lord Abbett TrustPairCorr
  0.63ELMCX Lord Abbett TrustPairCorr
  0.63LFSFX Lord Abbett FocusedPairCorr
  0.96LFRAX Floating RatePairCorr
  0.61LFRFX Floating RatePairCorr
  0.62LFRIX Floating RatePairCorr
  0.62LFRRX Lord Abbett InvPairCorr
  0.61LFROX Lord Abbett FloatingPairCorr
  0.69LFVAX Lord Abbett FocusedPairCorr
  0.63LFVCX Lord Abbett FocusedPairCorr
  0.9HYMQX Lord Abbett ShortPairCorr
  0.94LGCCX Lord Abbett GlobalPairCorr
  0.94LGCVX Lord Abbett GlobalPairCorr
  0.96LGLCX Lord Abbett GrowthPairCorr
  0.96LGLAX Lord Abbett GrowthPairCorr
  0.62LGLFX Lord Abbett GrowthPairCorr
  0.63LGLSX L Abbett GrowthPairCorr
  0.96LGLRX Lord Abbett GrowthPairCorr
  0.96LGLUX L Abbett GrowthPairCorr
  0.62EMILX Lord Abbett EmergingPairCorr
  0.94LGRYX Lord Abbett InvestmentPairCorr
  0.63LHCQX Lord Abbett HealthPairCorr
  0.63LHCTX Lord Abbett HealthPairCorr
  0.97LHYQX Lord Abbett HighPairCorr
  0.97LHYRX Lord Abbett HighPairCorr
  0.96LHYVX Lord Abbett HighPairCorr
  0.96LHYSX Lord Abbett HighPairCorr
  0.96LHYTX Lord Abbett HighPairCorr
  0.97LHYAX Lord Abbett HighPairCorr
  0.96LHYFX Lord Abbett HighPairCorr
  0.93LICAX Lord Abbett InternationalPairCorr
  0.97LIGFX Lord Abbett DiversifiedPairCorr
  0.97LIGQX Lord Abbett DiversifiedPairCorr
  0.92LIFFX Lord Abbett InflationPairCorr
  0.91LIFQX Lord Abbett InflationPairCorr
  0.91LIFRX Lord Abbett InflationPairCorr
  0.92LIFTX Lord Abbett InflationPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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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