Smallcap Growth Correlations

Mutual Funds . USA . 
Fund . Smallcap Growth Fund
PGRTX Fund  USD 15.08  0.16  1.05%   
The current 90-days correlation between Smallcap Growth and Transamerica International Small is 0.03 (i.e., Significant diversification). The correlation of Smallcap 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.

Smallcap Growth Correlation With Market

Almost no diversification

The correlation between Smallcap Growth Fund and DJI is 0.93 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Smallcap Growth Fund and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Smallcap Growth 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 estimate.

Moving together with Smallcap Mutual Fund

  0.97SABPX Strategic Asset ManaPairCorr
  0.97SACAX Strategic Asset ManaPairCorr
  0.97SAGPX Strategic Asset ManaPairCorr
  0.95PFIJX Strategic Asset ManaPairCorr
  0.95PFIEX International EquityPairCorr
  0.98PFIFX Strategic Asset ManaPairCorr
  0.96PFISX International Small PanyPairCorr
  0.98PFIPX Strategic Asset ManaPairCorr
  0.97SAIPX Strategic Asset ManaPairCorr
  1.0PFLJX Principal Lifetime 2050PairCorr
  1.0PFPPX Midcap GrowthPairCorr
  0.79PFRSX Real Estate SecuritiesPairCorr
  0.95SAUPX Strategic Asset ManaPairCorr
  0.94PFUMX Finisterre UnconstrainedPairCorr
  0.94PGBAX Global Diversified IncomePairCorr
  0.96PGBLX Global Diversified IncomePairCorr
  0.99PGBEX Blue Chip FundPairCorr
  0.99PGBGX Blue Chip FundPairCorr
  0.99PGBHX Blue Chip FundPairCorr
  0.93PGDCX Global Diversified IncomePairCorr
  0.94PGDIX Global Diversified IncomePairCorr
  0.92PGDRX Diversified Real AssetPairCorr
  0.98PGLSX Global Multi StrategyPairCorr
  0.88STCCX Short Term IncomePairCorr
  0.88PGRUX Global Real EstatePairCorr
  0.79PGSLX Principal Global SusPairCorr
  0.88PGRKX Global Real EstatePairCorr
  1.0PGWIX Midcap GrowthPairCorr
  1.0SCBPX Strategic Asset ManaPairCorr
  0.99SCIPX Strategic Asset ManaPairCorr
  1.0SCGPX Strategic Asset ManaPairCorr
  0.97PHJEX Principal Lifetime HybridPairCorr
  0.99PHJFX Principal Lifetime HybridPairCorr
  1.0PHJGX Principal Lifetime HybridPairCorr
  1.0PHJBX Principal Lifetime HybridPairCorr
  1.0PHJDX Principal Lifetime HybridPairCorr
  1.0PHJNX Principal Lifetime HybridPairCorr
  0.99PHJQX Principal Lifetime HybridPairCorr
  0.97PHJJX Principal Lifetime HybridPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Smallcap Mutual Fund performing well and Smallcap 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 Smallcap 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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