Mid Cap Correlations

Mutual Funds . USA . 
Fund . Mid Cap Value
AMVYX Fund  USD 16.53  0.06  0.36%   
The current 90-days correlation between Mid Cap Value and Columbia Moderate Growth is 0.79 (i.e., Poor 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

Very poor diversification

The correlation between Mid Cap Value and DJI is 0.83 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mid 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 Mid 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 manufacturing.

Moving together with Mid Mutual Fund

  1.0AMDVX Mid Cap ValuePairCorr
  0.78AMEIX Equity GrowthPairCorr
  0.97AMGIX Income GrowthPairCorr
  0.9AMKIX Emerging MarketsPairCorr
  0.98TWADX Value Fund APairCorr
  0.91TWCCX Ultra Fund CPairCorr
  0.92TWCAX Select Fund APairCorr
  0.92TWCIX Select Fund InvestorPairCorr
  0.92TWCGX Growth Fund InvestorPairCorr
  1.0AMVRX Mid Cap ValuePairCorr
  0.77TWBIX Balanced Fund InvestorPairCorr
  1.0AMVGX Mid Cap ValuePairCorr
  0.98TWEAX Equity IncomePairCorr
  0.98TWEIX Equity IncomePairCorr
  0.91TWCUX Ultra Fund InvestorPairCorr
  0.76TWGAX International GrowthPairCorr
  0.92TWGIX Growth Fund IPairCorr
  0.75TWGGX Global GrowthPairCorr
  0.76TWIEX International GrowthPairCorr
  0.72TWHIX Heritage Fund InvestorPairCorr
  0.92TWRCX Growth Fund CPairCorr
  0.61TWTIX Intermediate Term TaxPairCorr
  0.78TWSCX Strategic AllocationPairCorr
  0.94TWSAX Strategic AllocationPairCorr
  0.92TWSIX Select Fund IPairCorr
  0.98TWVLX Value Fund InvestorPairCorr
  0.91TWUAX Ultra Fund APairCorr
  0.92TWUIX Ultra Fund IPairCorr
  0.88NPHIX High Income FundPairCorr

Related Correlations Analysis

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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.

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