Mid Cap Correlations

Mutual Funds . USA . 
Fund . Mid Cap Growth
TEGYX Fund  USD 43.49  0.47  1.07%   
The correlation of Mid 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.

Mid Cap Correlation With Market

Good diversification

The correlation between Mid Cap Growth and DJI is -0.03 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mid Cap Growth 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 Cap Growth. Also, note that the market value of any mutual fund could be closely tied with the direction of predictive economic indicators such as various price indices.

Moving together with Mid Mutual Fund

  0.98RPMGX T Rowe PricePairCorr
  0.96PRNHX T Rowe PricePairCorr
  0.86PEMGX Midcap Fund ClassPairCorr
  0.64SRINX Columbia Porate IncomePairCorr
  0.92WRHIX Ivy High IncomePairCorr
  0.84WHIAX Ivy High IncomePairCorr
  0.93IHIFX Ivy High IncomePairCorr
  0.93IVHIX Ivy High IncomePairCorr
  0.94DIS Walt DisneyPairCorr
  0.78IBM International BusinessPairCorr
  0.88BA BoeingPairCorr
  0.87GE GE AerospacePairCorr
  0.97MSFT Microsoft Aggressive PushPairCorr
  0.81CSCO Cisco Systems Aggressive PushPairCorr
  0.7TRV The Travelers CompaniesPairCorr
  0.9BAC Bank of America Aggressive PushPairCorr
  0.9JPM JPMorgan ChasePairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Mid Mutual Fund performing well and Mid 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 Mid 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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