Small Cap Correlations

Mutual Funds USA . 
Fund . Small Cap Value
ACVIX Fund  USD 10.24  0.06  0.59%   
The current 90-days correlation between Small Cap Value and Putnam Diversified Income is 0.01 (i.e., Significant 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 poor diversification

The correlation between Small Cap Value and DJI is 0.8 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Small Cap Value and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Small Cap Value. 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 Small Mutual Fund

  0.75AMEIX Equity GrowthPairCorr
  0.92TWADX Value Fund APairCorr
  0.94AMVYX Mid Cap ValuePairCorr
  0.94AMVRX Mid Cap ValuePairCorr
  0.62AMVGX Mid Cap ValuePairCorr
  0.91TWEAX Equity IncomePairCorr
  0.62TWVLX Value Fund InvestorPairCorr
  0.66TWWOX Intermediate Term TaxPairCorr

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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