Smallcap Correlations

Mutual Funds . USA . 
Fund . Smallcap Sp 600
PSPIX Fund  USD 25.06  0.06  0.24%   
The current 90-days correlation between Smallcap Sp 600 and Washington Mutual Investors is 0.85 (i.e., Very poor diversification). The correlation of Smallcap 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 Correlation With Market

Very poor diversification

The correlation between Smallcap Sp 600 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 Smallcap Sp 600 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 Sp 600. 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 Smallcap Mutual Fund

  0.96SABPX Strategic Asset ManaPairCorr
  0.96SACAX Strategic Asset ManaPairCorr
  0.96SAGPX Strategic Asset ManaPairCorr
  0.94PFIJX Strategic Asset ManaPairCorr
  0.93PFIEX International EquityPairCorr
  0.95PFIFX Strategic Asset ManaPairCorr
  0.92PFISX International Small PanyPairCorr
  0.95PFIPX Strategic Asset ManaPairCorr
  0.96SAIPX Strategic Asset ManaPairCorr
  0.98PFLJX Principal Lifetime 2050PairCorr
  0.98PFPPX Midcap GrowthPairCorr
  0.69PFRSX Real Estate SecuritiesPairCorr
  0.94SAUPX Strategic Asset ManaPairCorr
  0.92PFUMX Finisterre UnconstrainedPairCorr
  0.94PGBAX Global Diversified IncomePairCorr
  0.94PGBLX Global Diversified IncomePairCorr
  0.98PGBEX Blue Chip FundPairCorr
  0.98PGBGX Blue Chip FundPairCorr
  0.98PGBHX Blue Chip FundPairCorr
  0.94PGDCX Global Diversified IncomePairCorr
  0.94PGDIX Global Diversified IncomePairCorr
  0.92PGDRX Diversified Real AssetPairCorr
  0.95PGLSX Global Multi StrategyPairCorr
  0.85STCCX Short Term IncomePairCorr
  0.98PGRTX Smallcap GrowthPairCorr
  0.83PGRUX Global Real EstatePairCorr
  0.7PGSLX Principal Global SusPairCorr
  0.82PGRKX Global Real EstatePairCorr
  0.98PGWIX Midcap GrowthPairCorr
  0.98SCBPX Strategic Asset ManaPairCorr
  0.97SCIPX Strategic Asset ManaPairCorr
  0.98SCGPX Strategic Asset ManaPairCorr
  0.98PHJEX Principal Lifetime HybridPairCorr
  0.97PHJFX Principal Lifetime HybridPairCorr
  0.98PHJGX Principal Lifetime HybridPairCorr
  0.98PHJBX Principal Lifetime HybridPairCorr
  0.96PHJDX Principal Lifetime HybridPairCorr
  0.98PHJNX Principal Lifetime HybridPairCorr
  0.97PHJQX Principal Lifetime HybridPairCorr
  0.98PHJJX 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 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'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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