Mid Cap Correlations

Mutual Funds . USA . 
Fund . Mid Cap Value
AMVYX Fund  USD 16.51  0.11  0.67%   
The current 90-days correlation between Mid Cap Value and Franklin Government Securities is 0.13 (i.e., Average 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 0.8 (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
  0.94AMEIX Equity GrowthPairCorr
  0.97AMGIX Income GrowthPairCorr
  0.9AMKIX Emerging MarketsPairCorr
  0.98TWADX Value Fund APairCorr
  0.92TWCCX Ultra Fund CPairCorr
  0.92TWCAX Select Fund APairCorr
  0.92TWCIX Select Fund InvestorPairCorr
  0.8TWCGX Growth Fund InvestorPairCorr
  0.79AMVRX Mid Cap ValuePairCorr
  0.93TWBIX Balanced Fund InvestorPairCorr
  0.98TWEAX Equity IncomePairCorr
  0.79TWEIX Equity IncomePairCorr
  0.92TWCUX Ultra Fund InvestorPairCorr
  0.64TWGAX International GrowthPairCorr
  0.92TWGIX Growth Fund IPairCorr
  0.92TWGGX Global GrowthPairCorr
  0.78TWIEX International GrowthPairCorr
  0.9TWHIX Heritage Fund InvestorPairCorr
  0.9TWMIX Emerging MarketsPairCorr
  0.8TWRCX Growth Fund CPairCorr
  0.79TWSCX Strategic Allocation:PairCorr
  0.79TWSAX Strategic Allocation:PairCorr
  0.8TWSIX Select Fund IPairCorr
  0.98TWVLX Value Fund InvestorPairCorr
  0.92TWUAX Ultra Fund APairCorr
  0.8TWUIX Ultra Fund IPairCorr
  0.65TWWOX Intermediate Term TaxPairCorr
  0.79NPHIX High Income FundPairCorr
  0.79ANORX Small Cap GrowthPairCorr

Related Correlations Analysis

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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   
CFNLX
+ 0.97
SNCAX
BSHIX
+ 0.94
CFNLX
BSHIX
+ 0.94
BIDPX
BSHIX
+ 0.9
SNCAX
BIDPX
+ 0.83
CFNLX
SNCAX
+ 0.77
FUSRX
  
High negative correlations   
INGXX
- 0.1
FUSRX

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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