Conestoga Smid Correlations

CCSGX Fund

USD 25.44 0.07 0.27%

The current 90-days correlation between Conestoga Smid Cap and Small Pany Fund is 0.87 (i.e., Very poor diversification). The correlation of Conestoga Smid 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.

Conestoga Smid Correlation With Market

Good diversification

The correlation between Conestoga Smid Cap and DJI is -0.03 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Conestoga Smid Cap 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 Conestoga Smid Cap. 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 rate.

Moving together with Conestoga Mutual Fund

0.64	CCASX	Conestoga Small Cap	Pair Corr
0.64	CCALX	Conestoga Small Cap	Pair Corr
0.93	CCSMX	Conestoga Smid Cap	Pair Corr
0.78	PCBIX	Midcap Fund Institutional	Pair Corr
0.79	PEMGX	Midcap Fund Class	Pair Corr
0.78	PMBCX	Midcap Fund Class	Pair Corr

Moving against Conestoga Mutual Fund

0.42	CMCMX	Conestoga Micro Cap	Pair Corr
0.42	PRJIX	T Rowe Price	Pair Corr
0.42	TRUZX	T Rowe Price	Pair Corr
0.36	PRNHX	T Rowe Price	Pair Corr
0.48	CHASX	Chase Growth	Pair Corr
0.42	SPDCX	Deutsche Multi Asset	Pair Corr
0.42	FUMBX	Fidelity Short Term	Pair Corr
0.37	FRSAX	Federated Floating Rate	Pair Corr
0.36	MCKIX	Mainstay Conservative	Pair Corr
0.35	AMEFX	Income Fund	Pair Corr
0.32	FSBHX	Fidelity Short Duration	Pair Corr
0.32	CENNX	Centerstone Investors	Pair Corr
0.56	FVILX	Forester Value	Pair Corr
0.54	FCMQX	Fidelity California	Pair Corr
0.53	TEMVX	Tiaa Cref Emerging	Pair Corr
0.48	PCM	Pcm Fund	Pair Corr
0.43	PRUFX	T Rowe Price	Pair Corr
0.41	TPILX	Tiaa Cref Lifecycle	Pair Corr

Related Correlations Analysis

	FOSBX	FOSCX	SEVIX	SUSYX	AFVLX	SVOAX	JRSAX	JRSCX	IYSYX	PDEZX
FOSBX		0.77	0.56	0.71	0.39	0.55	0.27	0.32	0.83	0.49	FOSBX
FOSCX	0.77		0.72	0.59	0.21	0.71	0.3	0.15	0.57	0.31	FOSCX
SEVIX	0.56	0.72		0.83	0.56	1.0	0.68	0.5	0.59	0.63	SEVIX
SUSYX	0.71	0.59	0.83		0.75	0.82	0.64	0.7	0.83	0.81	SUSYX
AFVLX	0.39	0.21	0.56	0.75		0.55	0.85	0.97	0.75	0.89	AFVLX
SVOAX	0.55	0.71	1.0	0.82	0.55		0.68	0.5	0.58	0.62	SVOAX
JRSAX	0.27	0.3	0.68	0.64	0.85	0.68		0.87	0.6	0.81	JRSAX
JRSCX	0.32	0.15	0.5	0.7	0.97	0.5	0.87		0.69	0.92	JRSCX
IYSYX	0.83	0.57	0.59	0.83	0.75	0.58	0.6	0.69		0.78	IYSYX
PDEZX	0.49	0.31	0.63	0.81	0.89	0.62	0.81	0.92	0.78		PDEZX
	FOSBX	FOSCX	SEVIX	SUSYX	AFVLX	SVOAX	JRSAX	JRSCX	IYSYX	PDEZX

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Risk-Adjusted Indicators

There is a big difference between Conestoga Mutual Fund performing well and Conestoga Smid 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 Conestoga Smid'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 Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
FOSBX	0.85	0.05	(0.05)	(0.20)	0.89	(0.94)	2.15	(1.47)	6.61
FOSCX	0.85	(0.11)	(0.07)	0.01	0.94	(1.00)	2.15	(1.45)	6.67
SEVIX	0.39	(0.01)	(0.09)	0.07	0.36	(0.51)	0.94	(0.79)	2.47
SUSYX	0.39	0.05	(0.09)	(0.33)	0.35	(0.53)	0.94	(0.79)	2.47
AFVLX	0.54	0.12	0.03	(0.61)	0.61	(0.59)	1.34	(0.91)	4.22
SVOAX	0.40	(0.02)	(0.11)	0.05	0.39	(0.50)	0.94	(0.79)	2.40
JRSAX	0.50	0.01	0.00	0.10	0.52	(0.56)	1.24	(0.72)	3.65
JRSCX	0.50	0.10	0.00	(0.35)	0.51	(0.58)	1.23	(0.76)	3.62
IYSYX	0.75	0.06	(0.03)	(0.57)	0.84	(0.80)	1.61	(1.32)	5.57
PDEZX	0.89	0.16	0.04	(1.06)	1.22	(0.93)	1.86	(1.91)	7.16

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