Champlain Mid Correlations

Mutual Funds . USA . 
Fund . Champlain Mid Cap
CIPMX Fund  USD 22.76  0.58  2.49%   
The current 90-days correlation between Champlain Mid Cap and Champlain Small Pany is 0.98 (i.e., Almost no diversification). The correlation of Champlain Mid 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.

Champlain Mid Correlation With Market

Almost no diversification

The correlation between Champlain Mid Cap and DJI is 0.95 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Champlain Mid 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 Champlain Mid 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 population.

Moving together with Champlain Mutual Fund

  0.9CIPNX Champlain SmallPairCorr
  0.99PAMCX T Rowe PricePairCorr
  0.99RRMGX T Rowe PricePairCorr
  0.99TRQZX T Rowe PricePairCorr
  0.91RPMGX T Rowe PricePairCorr
  0.85PRJIX T Rowe PricePairCorr
  0.93PRNHX T Rowe PricePairCorr
  0.93TRUZX T Rowe PricePairCorr
  0.87PCBIX Midcap Fund InstitutionalPairCorr
  0.87PEMGX Midcap Fund ClassPairCorr
  0.96PMBCX Midcap Fund ClassPairCorr
  0.85LSHUX Horizon Spin OffPairCorr
  0.86KNPYX Kinetics ParadigmPairCorr
  0.78WWNPX Kinetics ParadigmPairCorr
  0.78KNPAX Kinetics ParadigmPairCorr
  0.85LSHEX Kinetics Spin OffPairCorr
  0.76LSHAX Horizon Spin OffPairCorr
  0.86KNPCX Kinetics ParadigmPairCorr
  0.74BA BoeingPairCorr
  0.94DIS Walt DisneyPairCorr
  0.96BAC Bank of AmericaPairCorr
  0.67AA Alcoa CorpPairCorr
  0.91IBM International BusinessPairCorr
  0.85HPQ HP Inc Earnings Call This WeekPairCorr
  0.84MMM 3M CompanyPairCorr
  0.88JPM JPMorgan ChasePairCorr
  0.61INTC IntelPairCorr
  0.93CSCO Cisco Systems Sell-off TrendPairCorr
  0.83HD Home DepotPairCorr
  0.95AXP American ExpressPairCorr
  0.82GE GE AerospacePairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Champlain Mutual Fund performing well and Champlain Mid 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 Champlain Mid'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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