Small Cap Correlations

Mutual Funds . USA . 
Fund . Small Cap Profund Small Cap
SLPSX Fund  USD 88.35  0.36  0.41%   
The current 90-days correlation between Small Cap Profund and Versatile Bond Portfolio is -0.11 (i.e., Good 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

Very poor diversification

The correlation between Small Cap Profund Small Cap and DJI is 0.85 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Small Cap Profund Small Cap 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 Profund Small Cap. 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 Small Mutual Fund

  0.98TEPIX Technology Ultrasector Steady GrowthPairCorr
  0.98TEPSX Technology Ultrasector Steady GrowthPairCorr
  0.96LGPIX Large Cap GrowthPairCorr
  0.96LGPSX Profunds Large CapPairCorr
  0.98OTPIX Nasdaq 100 ProfundPairCorr
  0.96UJPIX Ultrajapan ProfundPairCorr
  0.98OTPSX Nasdaq 100 ProfundPairCorr
  0.95UJPSX Ultrajapan ProfundPairCorr
  0.99MLPSX Mid Cap ValuePairCorr
  0.96MLPIX Mid Cap ValuePairCorr
  0.81ENPSX Oil Gas UltrasectorPairCorr
  0.82ENPIX Oil Gas UltrasectorPairCorr
  0.88BTCFX Bitcoin Strategy ProfundPairCorr
  0.76PHPIX Pharmaceuticals UltrasectorPairCorr
  0.79PHPSX Pharmaceuticals Ultrasector Potential GrowthPairCorr
  0.97INPIX Internet UltrasectorPairCorr
  0.95INPSX Internet UltrasectorPairCorr
  0.96ULPIX Ultrabull ProfundPairCorr
  0.99ULPSX Ultrabull ProfundPairCorr
  0.95WCPIX Mobile TelecommunicatioPairCorr
  0.97WCPSX Mobile TelecommunicatioPairCorr
  0.8OEPSX Oil Equipment ServicesPairCorr
  0.93CYPSX Consumer ServicesPairCorr
  0.9CYPIX Consumer ServicesPairCorr
  0.79OEPIX Oil Equipment ServicesPairCorr
  0.99SVPIX Small Cap ValuePairCorr
  0.96SVPSX Small Cap ValuePairCorr
  0.98UMPSX Ultramid Cap Profund Potential GrowthPairCorr
  0.99UMPIX Ultramid Cap Profund Potential GrowthPairCorr

Moving against Small Mutual Fund

  0.97UIPIX Ultrashort Mid CapPairCorr
  0.96BRPIX Bear Profund BearPairCorr
  0.96BRPSX Bear Profund BearPairCorr
  0.96UKPSX Ultrashort Japan ProfundPairCorr
  0.96UKPIX Ultrashort Japan ProfundPairCorr
  0.95UIPSX Ultrashort Mid CapPairCorr
  0.73SRPSX Short Real EstatePairCorr
  0.68SRPIX Short Real EstatePairCorr
  0.39GVPSX Us Government PlusPairCorr
  0.36GVPIX Us Government PlusPairCorr

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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