Short Small-cap Correlations

SHPSX Fund

USD 52.84 0.47 0.90%

The current 90-days correlation between Short Small Cap and Pnc International Growth is -0.06 (i.e., Good diversification). The correlation of Short 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.

Short Small-cap Correlation With Market

Average diversification

The correlation between Short Small Cap Profund and DJI is 0.11 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Short Small Cap 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 Short Small Cap 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 state.

Moving together with Short Mutual Fund

0.76	SRPIX	Short Real Estate	Pair Corr
0.9	UIPIX	Ultrashort Mid Cap	Pair Corr
0.93	UKPIX	Ultrashort Japan Profund	Pair Corr
0.88	USPIX	Profunds Ultrashort	Pair Corr
0.75	USPSX	Profunds Ultrashort	Pair Corr
0.89	UCPIX	Ultrashort Small Cap	Pair Corr
0.69	SNPIX	Short Oil Gas	Pair Corr
0.96	PSTIX	Stocksplus Tr Short	Pair Corr
0.88	PBRIX	Federated Prudent Bear	Pair Corr
0.88	BEARX	Federated Prudent Bear	Pair Corr
0.88	PBRCX	Federated Prudent Bear	Pair Corr

Moving against Short Mutual Fund

0.97	LGPIX	Large Cap Growth	Pair Corr
0.94	UMPSX	Ultramid Cap Profund	Pair Corr
0.94	UMPIX	Ultramid Cap Profund	Pair Corr
0.93	MLPSX	Mid Cap Value	Pair Corr
0.93	MLPIX	Mid Cap Value	Pair Corr
0.93	SVPIX	Small Cap Value	Pair Corr
0.93	UOPIX	Ultra Nasdaq 100 Steady Growth	Pair Corr
0.93	UOPSX	Ultranasdaq 100 Profund Steady Growth	Pair Corr
0.93	SGPIX	Small Cap Growth	Pair Corr
0.91	TEPIX	Technology Ultrasector Steady Growth	Pair Corr
0.9	INPIX	Internet Ultrasector	Pair Corr
0.9	INPSX	Internet Ultrasector	Pair Corr
0.87	OEPIX	Oil Equipment Services	Pair Corr
0.86	FYAIX	Access Flex High	Pair Corr
0.82	REPIX	Real Estate Ultrasector	Pair Corr
0.81	BIPIX	Biotechnology Ultrasector	Pair Corr
0.71	RDPIX	Rising Dollar Profund	Pair Corr
0.69	ENPSX	Oil Gas Ultrasector	Pair Corr
0.95	SMPSX	Semiconductor Ultrasector Steady Growth	Pair Corr
0.95	FNPIX	Financials Ultrasector	Pair Corr
0.93	MDPIX	Mid Cap Profund	Pair Corr
0.91	MGPIX	Mid Cap Growth	Pair Corr
0.88	SMPIX	Semiconductor Ultrasector Steady Growth	Pair Corr
0.85	UUPIX	Ultraemerging Markets Steady Growth	Pair Corr
0.82	LSHAX	Horizon Spin Off Steady Growth	Pair Corr
0.82	KNPAX	Kinetics Paradigm	Pair Corr
0.82	WWNPX	Kinetics Paradigm	Pair Corr
0.81	LSHUX	Horizon Spin Off Steady Growth	Pair Corr
0.69	LSHCX	Horizon Spin Off Steady Growth	Pair Corr
0.68	KNPYX	Kinetics Paradigm	Pair Corr
0.57	HCPIX	Health Care Ultrasector	Pair Corr
0.53	SPPIX	Short Precious Metals	Pair Corr

Related Correlations Analysis

	PIGDX	ATGAX	TAAKX	GGRYX	LANIX	AFNIX	TADGX
PIGDX		0.74	0.85	0.88	0.71	0.73	0.78	PIGDX
ATGAX	0.74		0.92	0.9	0.97	0.82	0.9	ATGAX
TAAKX	0.85	0.92		0.99	0.91	0.92	0.98	TAAKX
GGRYX	0.88	0.9	0.99		0.91	0.94	0.98	GGRYX
LANIX	0.71	0.97	0.91	0.91		0.88	0.91	LANIX
AFNIX	0.73	0.82	0.92	0.94	0.88		0.96	AFNIX
TADGX	0.78	0.9	0.98	0.98	0.91	0.96		TADGX
	PIGDX	ATGAX	TAAKX	GGRYX	LANIX	AFNIX	TADGX

Click cells to compare fundamentals

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Risk-Adjusted Indicators

There is a big difference between Short Mutual Fund performing well and Short 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 Short 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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
PIGDX	1.09	0.14	0.09	0.10	1.63	(1.15)	2.31	(2.10)	9.93
ATGAX	1.29	(0.05)	0.00	1.88	0.00	0.00	2.53	(2.68)	11.25
TAAKX	1.18	0.08	0.04	0.00	1.84	(1.15)	2.13	(2.87)	11.56
GGRYX	0.79	0.06	0.06	0.01	1.25	(0.77)	1.51	(1.86)	7.79
LANIX	1.07	(0.03)	0.00	0.26	0.00	0.00	1.97	(2.42)	10.95
AFNIX	0.96	0.04	0.00	(0.02)	0.00	0.00	1.66	(1.90)	8.39
TADGX	1.01	0.06	0.04	(0.01)	1.48	(1.15)	1.73	(2.08)	9.85

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