Small Cap Correlations

Mutual Funds . USA . 
Fund . Small Cap Core
SCRSX Fund  USD 12.79  0.27  2.16%   
The current 90-days correlation between Small Cap Core and Jhvit International Small is 0.65 (i.e., Poor diversification). The correlation of Small Cap 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.

Small Cap Correlation With Market

Very poor diversification

The correlation between Small Cap Core 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 Small Cap Core and DJI in the same portfolio, assuming nothing else is changed.
  
Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Small Cap Core. 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 main economic indicators.

Moving together with Small Mutual Fund

  0.64GCEYX Ab Global EPairCorr
  0.86AMTAX Ab All MarketPairCorr
  0.89AMTZX Ab All MarketPairCorr
  0.89AMTYX Ab All MarketPairCorr
  0.89AMTOX Ab All MarketPairCorr
  0.75ANAZX Ab Global BondPairCorr
  0.76ANAYX Ab Global BondPairCorr
  0.76ANAGX Ab Global BondPairCorr
  0.75ANAIX Ab Global BondPairCorr
  0.76ANACX Ab Global BondPairCorr
  0.86ANBIX Ab Bond InflationPairCorr
  0.86ANIAX New York MunicipalPairCorr
  0.86ANIYX New York MunicipalPairCorr
  0.86ANMCX New York MunicipalPairCorr
  0.81ANYCX Ab New YorkPairCorr
  0.82STEYX International StrategicPairCorr
  0.82STEZX International StrategicPairCorr
  0.82STESX International StrategicPairCorr
  0.81STHAX Ab Sustainable ThematicPairCorr
  0.81STHYX Ab Sustainable ThematicPairCorr
  0.75SCAVX Ab Small CapPairCorr
  0.81SCCVX Ab Small CapPairCorr
  1.0SCRYX Small Cap CorePairCorr
  1.0SCRZX Small Cap CorePairCorr
  0.82SCYVX Ab Small CapPairCorr
  0.88APGZX Ab Large CapPairCorr
  0.88APGYX Ab Large CapPairCorr
  0.88APGAX Ab Large CapPairCorr
  0.79SUTAX Ab Sustainable ThematicPairCorr
  0.79SUTCX Ab Sustainable ThematicPairCorr
  0.89SUTZX Ab Sustainable ThematicPairCorr
  0.91APWIX Ab Servative WealthPairCorr
  0.79CHCLX Ab Discovery GrowthPairCorr
  0.91CHCIX Ab Discovery GrowthPairCorr
  0.91CHCYX Ab Discovery GrowthPairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

There is a big difference between Small Mutual Fund performing well and Small Cap 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 Small Cap'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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