Small Cap Correlations

Mutual Funds . USA . 
Fund . Small Cap Special
VSSVX Fund  USD 10.91  0.12  1.11%   
The current 90-days correlation between Small Cap Special and Channing Intrinsic Value is -0.38 (i.e., Very good diversification). The correlation of Small 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.

Small Cap Correlation With Market

Very weak diversification

The correlation between Small Cap Special and DJI is 0.4 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Small Cap Special 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 Cap Special. 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 real.

Moving together with Small Mutual Fund

  0.64VVSCX Valic Company IPairCorr
  0.61UBVCX Undiscovered ManagersPairCorr
  0.66UBVAX Undiscovered ManagersPairCorr
  0.66UBVSX Undiscovered ManagersPairCorr
  0.83GCSUX Goldman Sachs SmallPairCorr
  0.91GCTIX Goldman Sachs TaxPairCorr
  0.9HCKIX Hartford ChecksPairCorr
  0.75MLPTX Oppenheimer Steelpath MlpPairCorr
  0.82MHCAX Mainstay High YieldPairCorr
  0.67GLDZX Low Duration BondPairCorr
  0.85CMVYX Columbia Mid CapPairCorr
  0.66MSUMX Managed Account SeriesPairCorr
  0.8COSSX Columbia Overseas ValuePairCorr
  0.86SCFFX Shenkman Short DurationPairCorr
  0.84RMBTX Rmb InternationalPairCorr
  0.87FSAMX Strategic AdvisersPairCorr
  0.86GNXCX Alphacentric GlobalPairCorr
  0.82SSFOX State Street TargetPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

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