Small Cap Correlations

Mutual Funds . USA . 
Fund . Small Cap Growth
ANOIX Fund  USD 21.12  0.21  1.00%   
The current 90-days correlation between Small Cap Growth and Focused Dynamic Growth is 0.94 (i.e., Almost no 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

Good diversification

The correlation between Small Cap Growth and DJI is -0.08 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Small Cap Growth 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 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 gross domestic product.

Moving together with Small Mutual Fund

  0.79AMDVX Mid Cap ValuePairCorr
  0.91AMEIX Equity GrowthPairCorr
  0.88AMGIX Income GrowthPairCorr
  0.79AMKIX Emerging MarketsPairCorr
  0.77TWADX Value Fund APairCorr
  0.91TWCCX Ultra Fund CPairCorr
  0.91TWCAX Select Fund APairCorr
  0.91TWCIX Select Fund InvestorPairCorr
  0.98TWCGX Growth Fund InvestorPairCorr
  0.79AMVYX Mid Cap ValuePairCorr
  0.9AMVRX Mid Cap ValuePairCorr
  0.98TWBIX Balanced Fund InvestorPairCorr
  0.79AMVGX Mid Cap ValuePairCorr
  0.83TWEIX Equity IncomePairCorr
  0.98TWCUX Ultra Fund InvestorPairCorr
  0.78TWGAX International GrowthPairCorr
  0.98TWGIX Growth Fund IPairCorr
  0.93TWGGX Global GrowthPairCorr
  0.78TWIEX International GrowthPairCorr
  0.94TWHIX Heritage Fund InvestorPairCorr
  0.83TWMIX Emerging MarketsPairCorr
  0.98TWRCX Growth Fund CPairCorr
  0.94TWSCX Strategic Allocation:PairCorr
  0.95TWSAX Strategic Allocation:PairCorr
  0.89TWSMX Strategic AllocationPairCorr
  0.98TWSIX Select Fund IPairCorr
  0.88TWVLX Value Fund InvestorPairCorr
  0.98TWUAX Ultra Fund APairCorr
  0.98TWUIX Ultra Fund IPairCorr
  0.79NPHIX High Income FundPairCorr
  1.0ANORX Small Cap GrowthPairCorr

Moving against Small Mutual Fund

  0.67TWARX Short Term GovernmentPairCorr
  0.65TWACX Short Term GovernmentPairCorr
  0.63TWAVX Short Term GovernmentPairCorr
  0.61TWUSX Short Term GovernmentPairCorr
  0.63TWUOX Short Term GovernmentPairCorr

Related Correlations Analysis

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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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