Small Pany Correlations

Mutual Funds . USA . 
Fund . Small Pany Value
SCVIX Fund  USD 36.45  0.30  0.82%   
The current 90-days correlation between Small Pany Value and Jpmorgan Diversified Fund is -0.41 (i.e., Very good diversification). The correlation of Small Pany 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 Pany Correlation With Market

Almost no diversification

The correlation between Small Pany Value and DJI is 0.91 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Small Pany Value 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 Pany Value. 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 Small Mutual Fund

  0.67DHICX Wells Fargo AdvantagePairCorr
  0.7VMPYX Wells Fargo AdvantagePairCorr
  0.7VMPAX Wells Fargo AdvantagePairCorr
  0.86SADAX Wells Fargo UltraPairCorr
  0.88SADIX Wells Fargo UltraPairCorr
  0.96EMGYX Wells Fargo EmergingPairCorr
  0.96EMGNX Wells Fargo EmergingPairCorr
  0.94EMGCX Wells Fargo EmergingPairCorr
  0.94EMGAX Wells Fargo EmergingPairCorr
  0.85SSHIX Wells Fargo ShortPairCorr
  0.92SSTHX Wells Fargo ShortPairCorr
  0.86SSTVX Wells Fargo ShortPairCorr
  0.98WSCGX Small Pany GrowthPairCorr
  0.98WSCOX Wells Fargo AdvantagePairCorr
  0.86WSBIX Short Term MunicipalPairCorr
  0.93STAFX Wells Fargo LargePairCorr
  0.96STDFX Wells Fargo LargePairCorr
  0.85WSIAX Wells Fargo StrategicPairCorr
  0.88WSIDX Wells Fargo StrategicPairCorr
  0.87WSICX Wells Fargo StrategicPairCorr
  0.87WSINX Wells Fargo StrategicPairCorr
  0.82WSMAX Short Term MunicipalPairCorr
  0.94WSMCX Small Pany GrowthPairCorr
  0.82WSSCX Short Term MunicipalPairCorr
  0.82WSTMX Short Term MunicipalPairCorr
  0.96STOFX Wells Fargo LargePairCorr
  0.96STNFX Wells Fargo LargePairCorr
  0.99STSAX Wells Fargo MonPairCorr
  0.85STRIX Wells Fargo AdvantagePairCorr
  0.62STYAX Wells Fargo IncomePairCorr
  0.94STYIX Wells Fargo ShortPairCorr
  0.99SCNSX Wells Fargo MonPairCorr
  0.99SCSDX Wells Fargo MonPairCorr
  0.94SCSAX Wells Fargo MonPairCorr
  0.95SCVAX Small Pany ValuePairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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