Small-cap Growth Correlations

Mutual Funds . USA . 
Fund . Small Cap Growth Profund
SGPIX Fund  USD 101.67  1.33  1.33%   
The current 90-days correlation between Small Cap Growth and Small Cap Value Profund is 0.97 (i.e., Almost no diversification). The correlation of Small-cap Growth 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 Growth Correlation With Market

Almost no diversification

The correlation between Small Cap Growth Profund and DJI is 0.93 (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 Growth Profund 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 Growth Profund. 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-cap Mutual Fund

  0.97TEPIX Technology UltrasectorPairCorr
  0.97TEPSX Technology UltrasectorPairCorr
  0.93LGPIX Large Cap GrowthPairCorr
  0.98LGPSX Profunds Large CapPairCorr
  0.98OTPIX Nasdaq 100 ProfundPairCorr
  0.93UJPIX Ultrajapan ProfundPairCorr
  0.98OTPSX Nasdaq 100 ProfundPairCorr
  0.93UJPSX Ultrajapan ProfundPairCorr
  0.97MLPSX Mid Cap ValuePairCorr
  0.97MLPIX Mid Cap ValuePairCorr
  0.68ENPSX Oil Gas UltrasectorPairCorr
  0.68ENPIX Oil Gas UltrasectorPairCorr
  0.63BTCFX Bitcoin Strategy ProfundPairCorr
  0.88PHPIX Pharmaceuticals UltrasectorPairCorr
  0.88PHPSX Pharmaceuticals UltrasectorPairCorr
  0.98INPIX Internet UltrasectorPairCorr
  0.96INPSX Internet UltrasectorPairCorr
  0.93ULPIX Ultrabull ProfundPairCorr
  0.98ULPSX Ultrabull ProfundPairCorr
  0.96WCPIX Mobile TelecommunicatioPairCorr
  0.96WCPSX Mobile TelecommunicatioPairCorr
  0.92OEPSX Oil Equipment ServicesPairCorr
  0.98CYPSX Consumer ServicesPairCorr
  0.98CYPIX Consumer ServicesPairCorr
  0.92OEPIX Oil Equipment ServicesPairCorr
  0.97SVPIX Small Cap ValuePairCorr
  0.97SVPSX Small Cap ValuePairCorr
  0.99UMPSX Ultramid Cap Profund Steady GrowthPairCorr
  0.99UMPIX Ultramid Cap Profund Steady GrowthPairCorr

Moving against Small-cap Mutual Fund

  0.98UIPIX Ultrashort Mid CapPairCorr
  0.98UIPSX Ultrashort Mid CapPairCorr
  0.9BRPIX Bear Profund BearPairCorr
  0.9BRPSX Bear Profund BearPairCorr
  0.88UKPSX Ultrashort Japan ProfundPairCorr
  0.88UKPIX Ultrashort Japan ProfundPairCorr
  0.74SRPIX Short Real EstatePairCorr
  0.71SRPSX Short Real EstatePairCorr
  0.81FDPSX Falling Dollar ProfundPairCorr
  0.81FDPIX Falling Dollar ProfundPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Small-cap Mutual Fund performing well and Small-cap Growth 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 Growth'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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