Small-cap Growth Correlations

Mutual Funds . USA . 
Fund . Small Cap Growth Profund
SGPIX Fund  USD 110.29  0.79  0.72%   
The current 90-days correlation between Small Cap Growth and Dana Large Cap is 0.95 (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
  0.97LGPIX Large Cap GrowthPairCorr
  0.97LGPSX Profunds Large CapPairCorr
  0.97OTPIX Nasdaq 100 ProfundPairCorr
  0.96UJPIX Ultrajapan ProfundPairCorr
  0.97OTPSX Nasdaq 100 ProfundPairCorr
  0.96UJPSX Ultrajapan ProfundPairCorr
  0.98MLPSX Mid Cap ValuePairCorr
  0.99MLPIX Mid Cap ValuePairCorr
  0.89BTCFX Bitcoin Strategy ProfundPairCorr
  0.67PHPIX Pharmaceuticals UltrasectorPairCorr
  0.66PHPSX Pharmaceuticals UltrasectorPairCorr
  0.97INPIX Internet UltrasectorPairCorr
  0.97INPSX Internet UltrasectorPairCorr
  0.98ULPIX Ultrabull ProfundPairCorr
  0.98ULPSX Ultrabull ProfundPairCorr
  0.97WCPIX Mobile TelecommunicatioPairCorr
  0.97WCPSX Mobile TelecommunicatioPairCorr
  0.62OEPSX Oil Equipment Services Steady GrowthPairCorr
  0.97CYPSX Consumer ServicesPairCorr
  0.97CYPIX Consumer ServicesPairCorr
  0.63OEPIX Oil Equipment Services Steady GrowthPairCorr
  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

  0.99UIPIX Ultrashort Mid CapPairCorr
  0.99UIPSX Ultrashort Mid CapPairCorr
  0.98BRPIX Bear Profund Bear Potential GrowthPairCorr
  0.98BRPSX Bear Profund Bear Potential GrowthPairCorr
  0.96UKPSX Ultrashort Japan Profund Potential GrowthPairCorr
  0.96UKPIX Ultrashort Japan Profund Potential GrowthPairCorr
  0.83SRPSX Short Real Estate Potential GrowthPairCorr
  0.82SRPIX Short Real Estate Potential GrowthPairCorr
  0.47GVPSX Us Government PlusPairCorr
  0.46GVPIX Us Government PlusPairCorr

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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