Small Cap Correlations

Mutual Funds . USA . 
Fund . Small Cap Core
SCRYX Fund  USD 11.55  0.15  1.32%   
The current 90-days correlation between Small Cap Core and Gabelli Global Financial is 0.06 (i.e., Significant 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

Almost no diversification

The correlation between Small Cap Core and DJI is 0.9 (i.e., Almost no 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 manufacturing.

Moving together with Small Mutual Fund

  0.97GCEAX Ab Global EPairCorr
  0.97GCECX Ab Global EPairCorr
  0.96GCEYX Ab Global EPairCorr
  0.84AMTAX Ab All MarketPairCorr
  0.84AMTZX Ab All MarketPairCorr
  0.84AMTYX Ab All MarketPairCorr
  0.89AMTOX Ab All MarketPairCorr
  0.74STEYX International StrategicPairCorr
  0.74STEZX International StrategicPairCorr
  0.8STESX International StrategicPairCorr
  0.87SCAVX Ab Small CapPairCorr
  0.98SCCVX Ab Small CapPairCorr
  1.0SCRSX Small Cap CorePairCorr
  1.0SCRZX Small Cap CorePairCorr
  0.87SCYVX Ab Small CapPairCorr
  0.82APGZX Ab Large CapPairCorr
  0.9APGYX Ab Large CapPairCorr
  0.83APGAX Ab Large CapPairCorr
  0.83APGCX Ab Large CapPairCorr
  0.98SUTAX Ab Sustainable ThematicPairCorr
  0.98SUTCX Ab Sustainable ThematicPairCorr
  0.89SUTZX Ab Sustainable ThematicPairCorr
  0.98APWIX Ab Servative WealthPairCorr

Related Correlations Analysis

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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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