Small Capitalization Correlations

Mutual Funds . USA . 
Fund . Small Capitalization Portfolio
SSCYX Fund  USD 5.93  0.08  1.37%   
The current 90-days correlation between Small Capitalization and Ishares Municipal Bond is -0.3 (i.e., Very good diversification). The correlation of Small 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.

Small Capitalization Correlation With Market

Almost no diversification

The correlation between Small Capitalization Portfolio and DJI is 0.92 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Small 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 Small 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 manufacturing.

Moving together with Small Mutual Fund

  0.99SABAX Salient Alternative BetaPairCorr
  1.0SABIX Aggressive BalancedPairCorr
  1.0SABCX Salient Alternative BetaPairCorr
  0.99SAMAX Moderately AggressivePairCorr
  0.99SAMCX Salient Mlp FundPairCorr
  0.99SAMIX Moderately AggressivePairCorr
  0.99SSCCX Small CapitalizationPairCorr
  1.0SSCPX Small CapitalizationPairCorr
  0.99SBCCX Moderately ConservativePairCorr
  0.65SBHIX Health BiotchnologyPairCorr
  0.76SBMBX Energy Basic MaterialsPairCorr
  0.99SBMCX Moderate BalancedPairCorr
  0.99SBMIX Moderate BalancedPairCorr
  0.98STPAX Technology CommunicationsPairCorr
  0.98STPCX Technology MunicationsPairCorr
  0.98STPIX Technology MunicationsPairCorr
  0.99SCAAX Conservative BalancedPairCorr
  0.99SUMCX Conservative BalancedPairCorr
  0.77SEPIX Energy Basic MaterialsPairCorr
  0.76SEPCX Energy Basic MaterialsPairCorr
  0.98SFPCX Financial ServicesPairCorr
  0.97SFPAX Financial ServicesPairCorr
  0.97SFPIX Financial ServicesPairCorr
  0.64SHPAX Health BiotchnologyPairCorr
  0.62SHPCX Health BiotchnologyPairCorr
  0.96SIEYX International EquityPairCorr
  0.96SIECX International EquityPairCorr
  0.96SIEPX International EquityPairCorr
  0.99SLCGX Large CapitalizationPairCorr
  0.99SLCVX Large Cap ValuePairCorr
  0.99SLGCX Large CapitalizationPairCorr
  0.99SLGYX Large CapitalizationPairCorr
  0.99SLVCX Large Cap ValuePairCorr
  0.99SLVYX Large Cap ValuePairCorr
  0.99SMACX Moderately ConservativePairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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

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