Smallcap World Correlations

Mutual Funds . USA . 
Fund . Smallcap World Fund
RLLGX Fund  USD 75.84  0.17  0.22%   
The current 90-days correlation between Smallcap World and American Funds Fundamental is 0.9 (i.e., Almost no diversification). The correlation of Smallcap World 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 World Correlation With Market

Significant diversification

The correlation between Smallcap World Fund and DJI is 0.02 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Smallcap World 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 World 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 price.

Moving together with Smallcap Mutual Fund

  0.7AMFCX American MutualPairCorr
  0.7AMFFX American MutualPairCorr
  0.68RNCCX American Funds IncomePairCorr
  0.68FPTPX American Funds ConsePairCorr
  0.85RNPGX New PerspectivePairCorr
  0.7TEPFX American Funds TaxPairCorr
  0.64RNWGX New World FundPairCorr
  0.87BALFX American BalancedPairCorr
  0.87BALCX American BalancedPairCorr
  0.87FAETX American Funds 2030PairCorr
  0.87FAFGX American FundsPairCorr
  0.86GFACX Growth FundPairCorr
  0.87GFAFX Growth FundPairCorr
  0.66SCWFX Smallcap WorldPairCorr
  0.87FBAFX American Funds AmericanPairCorr
  0.88FSWFX American Funds SmallcapPairCorr
  0.86CGFEX Growth FundPairCorr
  0.87CGFFX Growth FundPairCorr
  0.86CGFCX Growth FundPairCorr
  0.86CGFAX Growth FundPairCorr
  0.87FBONX American Funds AmericanPairCorr
  0.68RRPPX American Funds RetirementPairCorr
  1.0FCJTX American Funds 2055PairCorr
  0.99RRQPX American Funds RetirementPairCorr
  0.97RROPX American Funds RetirementPairCorr
  0.99FUNFX American Funds FundaPairCorr
  0.99CIMCX Income FundPairCorr
  0.87CIREX Capital Income BuilderPairCorr
  0.98CIRFX Capital Income BuilderPairCorr
  0.98CIRCX Capital Income BuilderPairCorr
  0.98CIRAX Capital Income BuilderPairCorr
  0.99AAETX American Funds 2030PairCorr
  0.86ABALX American BalancedPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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