Extended Market Correlations

Mutual Funds . USA . 
Fund . Extended Market Index
USMIX Fund  USD 20.87  0.06  0.29%   
The current 90-days correlation between Extended Market Index and Multi Asset Growth Strategy is 0.86 (i.e., Very poor diversification). The correlation of Extended Market 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.

Extended Market Correlation With Market

Very poor diversification

The correlation between Extended Market Index and DJI is 0.87 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Extended Market Index 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 Extended Market Index. 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 gross domestic product.

Moving together with Extended Mutual Fund

  0.98UINQX Usaa Nasdaq 100PairCorr
  0.99SRVEX Victory Diversified StockPairCorr
  0.68UITBX Intermediate Term BondPairCorr
  0.67UITCX Usaa Intermediate TermPairCorr
  0.79UITIX Usaa Tax ExemptPairCorr
  0.99SSGSX Victory Sycamore SmallPairCorr
  0.92SBFCX Victory Incore InvestmentPairCorr
  0.94SBFMX Victory PortfoliosPairCorr
  0.99MMECX Victory IntegrityPairCorr
  0.99MMEAX Victory IntegrityPairCorr
  0.98RPPRX Victory Rs PartnersPairCorr
  1.0MMIJX Victory Integrity MidPairCorr
  0.99MMMMX Victory IntegrityPairCorr
  1.0MMMSX Victory IntegrityPairCorr
  0.99MNNAX Victory Munder MultiPairCorr
  0.86RSDYX Victory Incore LowPairCorr
  0.71RSENX Victory Sophus EmergingPairCorr
  0.99RSEGX Victory Rs SmallPairCorr
  0.99RSDGX Victory Rs SelectPairCorr
  0.92RSFYX Victory Floating RatePairCorr
  0.98RSGGX Victory Rs GlobalPairCorr
  0.99RSGFX Victory Rs SelectPairCorr
  0.98RSGRX Victory Rs GrowthPairCorr
  0.92RSFCX Victory Floating RatePairCorr
  0.92RSFMX Victory Floating RatePairCorr
  0.92RSFLX Victory Floating RatePairCorr
  0.98RSIFX Victory Rs SciencePairCorr
  0.97RSINX Victory Rs InvestorsPairCorr
  0.92RSIGX Victory Rs InternationalPairCorr
  0.97RSIYX Victory Rs InvestorsPairCorr
  0.98RSMOX Victory Rs MidPairCorr
  0.98RSPFX Victory Rs PartnersPairCorr
  0.96RSNRX Victory Global NaturalPairCorr
  0.96RSNYX Victory Global NaturalPairCorr
  0.98RSPMX Victory Rs PartnersPairCorr
  0.98RSPYX Victory Rs PartnersPairCorr

Moving against Extended Mutual Fund

  0.45IPFIX Victory IncorePairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Extended Mutual Fund performing well and Extended Market 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 Extended Market'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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