Small Company Correlations

Mutual Funds USA . 
Fund . Small Pany Growth
WSMCX Fund  USD 16.00  0.10  0.62%   
The current 90-days correlation between Small Pany Growth and Wells Fargo Advantage is 0.11 (i.e., Average diversification). The correlation of Small Company 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 Company Correlation With Market

Very poor diversification

The correlation between Small Pany Growth 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 Small Pany Growth and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Small Pany Growth. 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 main economic indicators.

Moving together with Small Mutual Fund

  0.9DHICX Wells Fargo AdvantagePairCorr
  0.9VMPYX Wells Fargo AdvantagePairCorr
  0.91VMPAX Wells Fargo AdvantagePairCorr
  0.93SADAX Wells Fargo UltraPairCorr
  0.93SADIX Wells Fargo UltraPairCorr
  0.98EMGYX Wells Fargo EmergingPairCorr
  0.98EMGNX Wells Fargo EmergingPairCorr
  0.98EMGCX Wells Fargo EmergingPairCorr
  0.98EMGAX Wells Fargo EmergingPairCorr
  0.89SSHIX Wells Fargo ShortPairCorr
  0.97SSTHX Wells Fargo ShortPairCorr
  0.88SSTVX Wells Fargo ShortPairCorr
  1.0WSCGX Small Pany GrowthPairCorr
  0.99WSCOX Wells Fargo AdvantagePairCorr
  0.93WSBIX Short Term MunicipalPairCorr
  0.99STAFX Wells Fargo LargePairCorr
  0.72WSGIX Wells Fargo ShortPairCorr
  0.99STDFX Wells Fargo LargePairCorr
  0.9WSIAX Wells Fargo StrategicPairCorr
  0.9WSIDX Wells Fargo StrategicPairCorr
  0.9WSICX Wells Fargo StrategicPairCorr
  0.91WSINX Wells Fargo StrategicPairCorr
  0.93WSMAX Short Term MunicipalPairCorr
  0.93WSSCX Short Term MunicipalPairCorr
  0.93WSTMX Short Term MunicipalPairCorr
  0.99STOFX Wells Fargo LargePairCorr
  0.99STNFX Wells Fargo LargePairCorr
  0.99STSAX Wells Fargo MonPairCorr
  0.91STRIX Wells Fargo AdvantagePairCorr
  0.7STYAX Wells Fargo IncomePairCorr
  0.97STYIX Wells Fargo ShortPairCorr
  1.0SCNSX Wells Fargo MonPairCorr
  1.0SCSDX Wells Fargo MonPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Small Mutual Fund performing well and Small Company 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 Company'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
DHICX  0.10  0.01 (0.64) 0.56  0.00 
(0.15)
 0.23 
(0.23)
 0.69 
VMPYX  0.11  0.01 (0.63) 0.47  0.00 
(0.17)
 0.23 
(0.23)
 0.70 
VMPAX  0.10  0.01 (0.69) 0.62  0.00 
(0.16)
 0.23 
(0.23)
 0.69 
SADAX  0.06  0.01  0.00  2.54  0.00 
 0.00 
 0.11 
(0.11)
 0.57 
SADIX  0.05  0.02  0.00  3.26  0.00 
 0.00 
 0.12 
 0.00 
 0.46 
EMGYX  0.52  0.21  0.22  0.62  0.00 
(0.64)
 1.84 
(0.92)
 3.58 
EMGNX  0.52  0.21  0.23  0.63  0.00 
(0.64)
 1.84 
(0.93)
 3.54 
EMGCX  0.53  0.20  0.21  0.62  0.00 
(0.64)
 1.83 
(0.95)
 3.54 
EMGAX  0.52  0.21  0.22  0.64  0.00 
(0.62)
 1.79 
(0.93)
 3.58 
SSHIX  0.07  0.02 (0.76)(4.23) 0.00 
(0.13)
 0.12 
(0.12)
 0.47 

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