Mid Capitalization Correlations

Mutual Funds . USA . 
Fund . Mid Capitalization Portfolio
SPMAX Fund  USD 11.74  0.01  0.09%   
The current 90-days correlation between Mid Capitalization and Salient Alternative Beta is -0.16 (i.e., Good diversification). The correlation of Mid Capitalization 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.

Mid Capitalization Correlation With Market

Very poor diversification

The correlation between Mid Capitalization Portfolio and DJI is 0.88 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mid Capitalization Portfolio 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 Mid Capitalization Portfolio. 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 nation.

Moving together with Mid Mutual Fund

  0.97SABAX Salient Alternative BetaPairCorr
  0.97SABIX Aggressive BalancedPairCorr
  0.97SABCX Salient Alternative BetaPairCorr
  0.97SAMAX Moderately AggressivePairCorr
  0.98SAMIX Moderately AggressivePairCorr
  0.95SSCCX Small CapitalizationPairCorr
  0.98SSCPX Small CapitalizationPairCorr
  0.96SSCYX Small CapitalizationPairCorr
  0.97SBCCX Moderately ConservativePairCorr
  0.89SBMBX Energy Basic MaterialsPairCorr
  0.98SBMCX Moderate BalancedPairCorr
  0.98SBMIX Moderate BalancedPairCorr
  0.97STPCX Technology MunicationsPairCorr
  0.96STPIX Technology MunicationsPairCorr
  0.97SCAAX Conservative BalancedPairCorr
  0.99SFPCX Financial ServicesPairCorr
  0.97SFPAX Financial ServicesPairCorr
  0.91SIECX International EquityPairCorr
  0.91SIEPX International EquityPairCorr
  0.97SLCGX Large CapitalizationPairCorr
  0.97SLCVX Large Cap ValuePairCorr
  0.97SLGCX Large CapitalizationPairCorr
  0.96SLGYX Large CapitalizationPairCorr
  0.97SLVCX Large Cap ValuePairCorr
  0.96SLVYX Large Cap ValuePairCorr
  0.86SMBCX Municipal Bond PortfolioPairCorr
  0.9SMBAX Municipal Bond PortfolioPairCorr
  0.97SMACX Moderately ServativePairCorr
  0.89SMBPX Municipal Bond PortfolioPairCorr
  0.98SMICX Moderately ConservativePairCorr
  1.0SMIPX Mid CapitalizationPairCorr
  0.97SMPAX Moderate BalancedPairCorr
  0.98LUNAX Conservative BalancedPairCorr
  0.99VIMAX Vanguard Mid CapPairCorr
  0.97VIMSX Vanguard Mid CapPairCorr
  0.99VMCPX Vanguard Mid CapPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Mid Mutual Fund performing well and Mid Capitalization 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 Mid Capitalization'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
SABAX  0.47  0.20  0.09 (1.85) 0.23 
(0.58)
 1.44 
(0.99)
 3.39 
SABIX  0.47  0.20  0.09 (1.96) 0.21 
(0.59)
 1.43 
(0.98)
 3.37 
SABCX  0.47  0.20  0.09 (1.85) 0.27 
(0.58)
 1.45 
(1.00)
 3.42 
SAMAX  0.43  0.18  0.06 (2.01) 0.22 
(0.52)
 1.35 
(0.90)
 3.12 
SAMCX  0.42  0.09  0.05  0.28  0.20 
(0.51)
 1.28 
(0.91)
 3.08 
SAMIX  0.42  0.09  0.05  0.29  0.17 
(0.51)
 1.34 
(0.80)
 3.10 
SSCCX  0.97  0.29  0.05 (1.52) 0.78 
(2.94)
 3.03 
(2.78)
 6.17 
SSCPX  0.88  0.10  0.09  0.22  0.82 
(1.00)
 2.29 
(1.42)
 5.66 
SSCYX  0.86  0.29  0.11 (1.13) 0.75 
(0.98)
 2.37 
(1.49)
 5.47 
SBCCX  0.38  0.17  0.04 (2.24) 0.17 
(0.46)
 1.21 
(0.79)
 2.70 

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