Smallcap Growth Correlations

Mutual Funds . USA . 
Fund . Smallcap Growth Fund
PPNMX Fund  USD 10.78  0.07  0.65%   
The current 90-days correlation between Smallcap Growth and Forum Real Estate is 0.09 (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

Significant diversification

The correlation between Smallcap Growth Fund and DJI is 0.03 (i.e., Significant 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 population.

Moving together with Smallcap Mutual Fund

  0.99SABPX Strategic Asset ManaPairCorr
  1.0SACAX Strategic Asset ManaPairCorr
  0.96PFIJX Strategic Asset ManaPairCorr
  0.84PFIEX International EquityPairCorr
  0.82PFIFX Strategic Asset ManaPairCorr
  0.95PFISX International Small PanyPairCorr
  0.96PFIPX Strategic Asset ManaPairCorr
  0.86PFLJX Principal Lifetime 2050PairCorr
  0.73PFPPX Midcap GrowthPairCorr
  0.63PFRSX Real Estate SecuritiesPairCorr
  0.69PFUMX Finisterre UnconstrainedPairCorr
  0.71PGBAX Global Diversified IncomePairCorr
  0.95PGBLX Global Diversified IncomePairCorr
  0.85PGBEX Blue Chip FundPairCorr
  0.73PGBHX Blue Chip FundPairCorr
  0.94PGDCX Global Diversified IncomePairCorr
  0.71PGDIX Global Diversified IncomePairCorr
  0.81PGDRX Diversified Real AssetPairCorr
  0.74PGLSX Global Multi StrategyPairCorr
  0.66STCCX Short Term IncomePairCorr
  0.75PGRTX Smallcap GrowthPairCorr
  0.68PGSLX Principal Global SusPairCorr
  0.83PGRKX Global Real EstatePairCorr
  0.74SCIPX Strategic Asset ManaPairCorr
  0.74SCGPX Strategic Asset ManaPairCorr
  0.74PHJEX Principal Lifetime HybridPairCorr
  0.74PHJFX Principal Lifetime HybridPairCorr
  0.74PHJGX Principal Lifetime HybridPairCorr
  0.74PHJBX Principal Lifetime HybridPairCorr
  0.75PHJDX Principal Lifetime HybridPairCorr
  0.74PHJNX Principal Lifetime HybridPairCorr
  0.74PHJQX Principal Lifetime HybridPairCorr
  0.74PHJMX Principal Lifetime HybridPairCorr
  0.74PHJTX Principal Lifetime HybridPairCorr
  0.74PHJUX Principal Lifetime HybridPairCorr
  0.74PHPPX Midcap GrowthPairCorr
  0.73PHSPX Pimco High YieldPairCorr
  0.75PHTJX Principal Lifetime HybridPairCorr
  0.98PHTFX 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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