Smallcap World Correlations

Mutual Funds . USA . 
Fund . Smallcap World Fund
RLLGX Fund  USD 77.11  0.07  0.09%   
The current 90-days correlation between Smallcap World and Smallcap World Fund is 1.0 (i.e., No risk reduction). 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

Poor diversification

The correlation between Smallcap World Fund and DJI is 0.77 (i.e., Poor 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 rate.

Moving together with Smallcap Mutual Fund

  0.66AMECX Income FundPairCorr
  0.68AMFCX American MutualPairCorr
  0.67AMFFX American MutualPairCorr
  0.7RNCCX American Funds IncomePairCorr
  0.66AMEFX Income FundPairCorr
  0.69FPTPX American Funds ConsePairCorr
  0.71CDJAX American Funds CollegePairCorr
  0.73AMPCX Amcap Fund ClassPairCorr
  0.72AMPFX Amcap Fund ClassPairCorr
  0.69RNPAX New PerspectivePairCorr
  0.68RNPHX New PerspectivePairCorr
  0.68RNPGX New PerspectivePairCorr
  0.69RNPCX New PerspectivePairCorr
  0.68RNPEX New PerspectivePairCorr
  0.67AMRMX American MutualPairCorr
  0.67AMRFX American MutualPairCorr
  0.61ANBEX American Funds StrategicPairCorr

Related Correlations Analysis


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.
Mean DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
SCWFX  0.63 (0.07)(0.08)(0.01) 0.89 
(0.58)
 1.18 
(1.16)
 4.91 
SMCWX  0.63 (0.07)(0.08)(0.01) 0.87 
(0.60)
 1.18 
(1.17)
 4.91 
RSLAX  0.63 (0.07) 0.00 (0.01) 0.00 
 0.00 
 1.20 
(1.18)
 4.90 
RMFGX  0.40 (0.01)(0.06) 0.05  0.54 
(0.41)
 0.82 
(0.79)
 2.94 
AMFFX  0.40 (0.01)(0.06) 0.04  0.54 
(0.41)
 0.81 
(0.78)
 2.96 
FNCFX  0.24  0.00 (0.08) 0.08  0.15 
(0.45)
 0.42 
(0.41)
 1.65 
NFFFX  0.52  0.04  0.03  0.13  0.60 
(0.56)
 1.32 
(0.89)
 4.03 
RNWGX  0.52  0.04  0.03  0.13  0.60 
(0.57)
 1.32 
(0.90)
 4.03 
NEWFX  0.52  0.04  0.03  0.13  0.60 
(0.58)
 1.32 
(0.89)
 4.02 
NWFFX  0.52  0.04  0.03  0.13  0.60 
(0.58)
 1.32 
(0.90)
 4.03 

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