Scout Mid Correlations

Mutual Funds . USA . 
Fund . Scout Mid Cap
UMBMX Fund  USD 25.16  0.04  0.16%   
The current 90-days correlation between Scout Mid Cap and Invesco Technology Fund is 0.78 (i.e., Poor diversification). The correlation of Scout Mid 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.

Scout Mid Correlation With Market

Very poor diversification

The correlation between Scout Mid Cap and DJI is 0.89 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Scout Mid 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 Scout Mid 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 population.

Moving together with Scout Mutual Fund

  0.96CWFIX Chartwell Short DurationPairCorr
  0.96CWFCX Carillon Chartwell ShortPairCorr
  0.96CWFAX Chartwell Short DurationPairCorr
  0.96CWFRX Carillon Chartwell ShortPairCorr
  0.97HIGCX Eagle Growth IncomePairCorr
  0.97HIGJX Eagle Growth IncomePairCorr
  0.97HIGUX Eagle Growth IncomePairCorr
  0.96CWSIX Chartwell Small CapPairCorr
  0.97CWSGX Chartwell Small CapPairCorr
  0.96CWSHX Carillon Chartwell SmallPairCorr
  0.97CWSCX Carillon Chartwell SmallPairCorr
  0.96CWSAX Carillon Chartwell SmallPairCorr
  0.96CWSBX Carillon Chartwell SmallPairCorr
  0.97CWSWX Carillon Chartwell SmallPairCorr
  0.96CWSRX Columbia Large CapPairCorr
  0.73SUBTX Carillon Reams UnconPairCorr
  0.72SUBDX Carillon Reams UnconPairCorr
  0.74SUBFX Scout Unconstrained BondPairCorr
  0.71SUBEX Carillon Reams UnconPairCorr
  0.64SCPEX Carillon Reams CorePairCorr
  0.67SCPDX Carillon Reams CorePairCorr
  0.69SCPWX Carillon Reams CorePairCorr
  0.96UMBHX Scout Small CapPairCorr
  0.92BERSX Carillon Chartwell RealPairCorr
  0.92BERIX Berwyn IncomePairCorr
  0.92BERGX Carillon Chartwell RealPairCorr
  0.91BERHX Carillon Chartwell RealPairCorr
  0.98BERDX Carillon Chartwell MidPairCorr
  0.98BERBX Carillon Chartwell MidPairCorr
  0.97BERCX Berwyn CornerstonePairCorr
  0.98BERAX Carillon Chartwell MidPairCorr
  0.99HRCCX Eagle Capital ApprecPairCorr
  0.99HRCIX Eagle Capital ApprecPairCorr
  1.0HRAUX Eagle Mid CapPairCorr
  0.99HRCPX Eagle Capital ApprecPairCorr
  0.99HRCUX Eagle Capital ApprecPairCorr
  0.97HRCVX Eagle Growth IncomePairCorr
  0.99HRSCX Eagle Small CapPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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