Perritt Microcap Correlations

Mutual Funds . USA . 
Fund . Perritt Microcap Opportunities
PRCGX Fund  USD 23.87  0.29  1.20%   
The current 90-days correlation between Perritt Microcap Opp and Ultra Small Pany Market is 0.83 (i.e., Very poor diversification). The correlation of Perritt Microcap 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.

Perritt Microcap Correlation With Market

Poor diversification

The correlation between Perritt Microcap Opportunities and DJI is 0.74 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Perritt Microcap Opportunities 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 Perritt Microcap Opportunities. 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 price.

Moving together with Perritt Mutual Fund

  0.97VSMAX Vanguard Small CapPairCorr
  0.97VSCIX Vanguard Small CapPairCorr
  0.97VSCPX Vanguard Small CapPairCorr
  0.97NAESX Vanguard Small CapPairCorr
  0.98FSSNX Fidelity Small CapPairCorr
  0.97DFSTX Us Small CapPairCorr
  0.97PASVX T Rowe PricePairCorr
  0.97PRVIX T Rowe PricePairCorr
  0.97TRZVX T Rowe PricePairCorr
  0.97PRSVX T Rowe PricePairCorr
  0.98SMPIX Semiconductor Ultrasector Steady GrowthPairCorr
  0.98SMPSX Semiconductor Ultrasector Steady GrowthPairCorr
  0.97TTEEX T Rowe PricePairCorr
  0.97TREMX T Rowe PricePairCorr
  0.99FIKGX Fidelity Advisor SemPairCorr
  0.98ONERX One Rock Fund Steady GrowthPairCorr
  0.99FELCX Fidelity Advisor SemPairCorr
  0.99FELIX Fidelity Advisor SemPairCorr
  0.99FSELX Fidelity Select SemiPairCorr
  0.98RMQAX Monthly RebalancePairCorr
  0.98LMPIX Clearbridge AppreciationPairCorr
  0.96OWMBX Old Westbury MunicipalPairCorr
  0.98VWELX Vanguard WellingtonPairCorr
  0.98FSCTX Fidelity Advisor SmallPairCorr
  0.98RYTIX Technology Fund InvestorPairCorr
  0.89AUNTX Ab Municipal BondPairCorr
  0.96AFGGX Api Growth FundPairCorr
  0.97RGCYX Global OpportunisticPairCorr
  0.88GRSRX Cohen Steers GlobalPairCorr
  0.98JORFX Janus Global SelectPairCorr
  0.96VYRIX Vy T RowePairCorr
  0.9BSBIX Baird Short TermPairCorr
  0.94VMCRX Voya Midcap OpportunitiesPairCorr
  0.98JAFSX John Hancock VariablePairCorr
  0.66PCRRX CommodityrealreturnPairCorr
  0.93TSFYX Touchstone Small CapPairCorr
  0.94FKAIX Federated Kaufmann SmallPairCorr

Related Correlations Analysis

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