Smallcap World Correlations

Mutual Funds . USA . 
Fund . Smallcap World Fund
SMCWX Fund  USD 72.26  0.42  0.58%   
The current 90-days correlation between Smallcap World and Goldman Sachs Small is 0.89 (i.e., Very poor diversification). The correlation of Smallcap World 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.

Smallcap World Correlation With Market

Good diversification

The correlation between Smallcap World Fund and DJI is -0.17 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Smallcap World Fund 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 Smallcap World Fund. 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 housing.

Moving together with Smallcap Mutual Fund

  0.99AMFCX American MutualPairCorr
  0.99AMFFX American MutualPairCorr
  0.98RNCCX American Funds IncomePairCorr
  0.73FPPPX American Funds PresePairCorr
  0.84AMHIX American High IncomePairCorr
  0.99FPTPX American Funds ConsePairCorr
  0.69TEFEX Tax Exempt FundPairCorr
  0.99RNPGX New PerspectivePairCorr
  0.97TEPFX American Funds TaxPairCorr
  0.99RNWGX New World FundPairCorr
  0.98BALFX American BalancedPairCorr
  0.99BALCX American BalancedPairCorr
  0.98FAETX American Funds 2030PairCorr
  0.99FAFGX American FundsPairCorr
  0.99GFACX Growth FundPairCorr
  0.99GFAFX Growth FundPairCorr
  0.99SCWFX Smallcap WorldPairCorr
  0.98FBAFX American Funds AmericanPairCorr
  0.99FSWFX American Funds SmallcapPairCorr
  0.99CGFEX Growth FundPairCorr
  0.99CGFFX Growth FundPairCorr
  0.99CGFCX Growth FundPairCorr
  0.99CGFAX Growth FundPairCorr
  0.98FBONX American Funds AmericanPairCorr
  0.99RRPPX American Funds RetirementPairCorr
  0.99FCJTX American Funds 2055PairCorr
  0.99RRQPX American Funds RetirementPairCorr
  0.97RROPX American Funds RetirementPairCorr
  0.99FUNFX American Funds FundaPairCorr
  0.98CIMCX Income FundPairCorr
  0.99CIREX Capital Income BuilderPairCorr
  0.98CIRFX Capital Income BuilderPairCorr
  0.98CIRCX Capital Income BuilderPairCorr
  0.99CIRAX Capital Income BuilderPairCorr
  0.99AAETX American Funds 2030PairCorr
  0.63RBOBX Intermediate BondPairCorr
  0.63RBOAX Intermediate BondPairCorr
  0.99ABALX American BalancedPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Smallcap Mutual Fund performing well and Smallcap World 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 Smallcap World'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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