Mid-cap Growth Correlations

Mutual Funds . USA . 
Fund . Mid Cap Growth Profund
MGPIX Fund  USD 107.49  1.33  1.25%   
The current 90-days correlation between Mid Cap Growth and Small Cap Growth Profund is -0.18 (i.e., Good diversification). The correlation of Mid-cap Growth 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.

Mid-cap Growth Correlation With Market

Good diversification

The correlation between Mid Cap Growth Profund and DJI is -0.16 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mid Cap Growth Profund 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 Mid Cap Growth Profund. 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 gross domestic product.

Moving together with Mid-cap Mutual Fund

  0.95TEPIX Technology UltrasectorPairCorr
  0.97LGPSX Profunds Large CapPairCorr
  0.96OTPIX Nasdaq 100 ProfundPairCorr
  0.72ENPSX Oil Gas UltrasectorPairCorr
  0.97INPIX Internet UltrasectorPairCorr
  0.98INPSX Internet UltrasectorPairCorr
  0.96UOPIX Ultra Nasdaq 100PairCorr
  0.96UOPSX Ultranasdaq 100 ProfundPairCorr
  0.95FYAIX Access Flex HighPairCorr
  0.75REPIX Real Estate UltrasectorPairCorr
  0.62BIPIX Biotechnology UltrasectorPairCorr
  0.94UAPIX Ultrasmall Cap ProfundPairCorr
  0.96UUPIX Ultraemerging Markets Steady GrowthPairCorr
  0.92SMPIX Semiconductor Ultrasector Steady GrowthPairCorr
  0.92SMPSX Semiconductor Ultrasector Steady GrowthPairCorr
  0.95FNPIX Financials UltrasectorPairCorr
  0.96PAMCX T Rowe PricePairCorr
  0.96RRMGX T Rowe PricePairCorr
  0.96TRQZX T Rowe PricePairCorr
  0.96RPMGX T Rowe PricePairCorr
  0.95PRJIX T Rowe PricePairCorr
  0.95PRNHX T Rowe PricePairCorr
  0.95TRUZX T Rowe PricePairCorr
  0.99PCBIX Midcap Fund InstitutionalPairCorr
  0.95PEMGX Midcap Fund ClassPairCorr
  0.95PMBCX Midcap Fund ClassPairCorr
  0.9TTEEX T Rowe PricePairCorr
  0.9TREMX T Rowe PricePairCorr
  0.94FIKGX Fidelity Advisor SemPairCorr
  0.93ONERX One Rock Fund Steady GrowthPairCorr
  0.94FELCX Fidelity Advisor SemPairCorr
  0.94FELIX Fidelity Advisor SemPairCorr
  0.94FSELX Fidelity Select SemiPairCorr
  0.94FELAX Fidelity Advisor SemPairCorr

Moving against Mid-cap Mutual Fund

  0.74SNPIX Short Oil GasPairCorr
  0.67SRPIX Short Real EstatePairCorr
  0.48GVPIX Us Government PlusPairCorr
  0.47HCPIX Health Care UltrasectorPairCorr
  0.35SPPIX Short Precious MetalsPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Mid-cap Mutual Fund performing well and Mid-cap Growth 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 Mid-cap Growth'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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