Mid Cap Correlations

VMIDX Fund

USD 24.69 0.08 0.33%

The current 90-days correlation between Mid Cap Index and Mid Cap Strategic is -0.07 (i.e., Good diversification). 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

Significant diversification

The correlation between Mid Cap Index and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mid Cap 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 Mid Cap 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 services.

Moving together with Mid Mutual Fund

0.63	VCSLX	Small Cap Index	Pair Corr
0.62	VVMCX	Valic Company I	Pair Corr
0.82	VVSGX	Valic Company I	Pair Corr
0.72	VGREX	Global Real Estate	Pair Corr
0.64	VHYLX	Valic Company I	Pair Corr
0.66	VIOPX	Valic Company I	Pair Corr
0.62	VIMSX	Vanguard Mid Cap	Pair Corr

Related Correlations Analysis

	VMSGX	VAPPX	VSRDX	VSTIX	VSSVX	VBCVX	VCAAX	VCBDX	VCBCX
VMSGX		0.21	0.37	0.13	0.2	0.18	0.54	0.4	0.23	VMSGX
VAPPX	0.21		0.92	0.89	-0.67	0.61	0.81	0.82	0.91	VAPPX
VSRDX	0.37	0.92		0.82	-0.49	0.6	0.8	0.78	0.84	VSRDX
VSTIX	0.13	0.89	0.82		-0.69	0.8	0.83	0.75	0.98	VSTIX
VSSVX	0.2	-0.67	-0.49	-0.69		-0.44	-0.54	-0.59	-0.61	VSSVX
VBCVX	0.18	0.61	0.6	0.8	-0.44		0.68	0.61	0.75	VBCVX
VCAAX	0.54	0.81	0.8	0.83	-0.54	0.68		0.84	0.86	VCAAX
VCBDX	0.4	0.82	0.78	0.75	-0.59	0.61	0.84		0.77	VCBDX
VCBCX	0.23	0.91	0.84	0.98	-0.61	0.75	0.86	0.77		VCBCX
	VMSGX	VAPPX	VSRDX	VSTIX	VSSVX	VBCVX	VCAAX	VCBDX	VCBCX

Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

VCBCX	+ 0.98	VSTIX
VSRDX	+ 0.92	VAPPX
VCBCX	+ 0.91	VAPPX
VSTIX	+ 0.89	VAPPX
VCBCX	+ 0.86	VCAAX
VCBCX	+ 0.84	VSRDX

High negative correlations

VSSVX	- 0.69	VSTIX
VSSVX	- 0.67	VAPPX
VCBCX	- 0.61	VSSVX
VCBDX	- 0.59	VSSVX
VCAAX	- 0.54	VSSVX
VSSVX	- 0.49	VSRDX

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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
VMSGX	0.75	(0.02)	0.00	0.15	0.00	0.00	1.29	(1.79)	4.80
VAPPX	0.71	0.05	0.02	1.67	1.06	(0.66)	1.50	(1.80)	4.66
VSRDX	0.53	0.00	(0.04)	(0.18)	0.85	(0.45)	0.95	(1.32)	3.70
VSTIX	0.53	0.03	0.03	0.06	0.77	(0.52)	1.23	(1.13)	4.22
VSSVX	0.75	(0.10)	0.00	2.87	0.00	0.00	1.52	(1.58)	6.73
VBCVX	0.44	0.00	(0.01)	0.03	0.57	(0.48)	0.89	(1.04)	3.40
VCAAX	0.32	0.03	(0.01)	(1.12)	0.43	(0.34)	0.70	(0.55)	2.62
VCBDX	0.19	0.02	(0.03)	0.46	0.06	(0.24)	0.40	(0.30)	1.09
VCBCX	0.72	0.03	0.03	0.06	1.05	(0.71)	1.61	(1.63)	4.77

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