Champlain Mid Correlations

Mutual Funds . USA . 
Fund . Champlain Mid Cap
CIPMX Fund  USD 23.55  0.02  0.08%   
The current 90-days correlation between Champlain Mid Cap and Champlain Small Pany is 0.94 (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

Very poor diversification

The correlation between Champlain Mid Cap and DJI is 0.89 (i.e., Very poor 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

  0.99CIPNX Champlain SmallPairCorr
  1.0CIPIX Champlain Mid CapPairCorr
  0.99CIPSX Champlain Small PanyPairCorr
  0.98CIPTX Advisors Inner CirclePairCorr
  0.97PAMCX T Rowe PricePairCorr
  0.97RRMGX T Rowe PricePairCorr
  0.97TRQZX T Rowe PricePairCorr
  0.97RPMGX T Rowe PricePairCorr
  0.96PRJIX T Rowe PricePairCorr
  0.96PRNHX T Rowe PricePairCorr
  0.96TRUZX T Rowe PricePairCorr
  0.96PCBIX Midcap Fund InstitutionalPairCorr
  0.96PEMGX Midcap Fund ClassPairCorr
  0.96PMBCX Midcap Fund ClassPairCorr
  0.72NHS Neuberger Berman HighPairCorr
  0.81EPIBX Europac InternationalPairCorr
  0.83PRFSX T Rowe PricePairCorr
  0.95RRTBX Trowe Price RetirementPairCorr
  0.84VGSNX Vanguard Reit IndexPairCorr
  0.93AVLIX Value Fund IPairCorr
  0.95CLWFX Columbia Large CapPairCorr
  0.96RGLIX Allianzgi Global NaturalPairCorr
  0.89EMXIX Ashmore Emerging MarketsPairCorr
  0.95ACFGX American Century InvPairCorr
  0.91FPBFX Fidelity Pacific BasinPairCorr
  0.84AVGRX Dynamic Total ReturnPairCorr
  0.95CHW Calamos Global DynamicPairCorr
  0.95RYTAX Technology Fund ClassPairCorr
  0.84PBCAX Prudential CaliforniaPairCorr
  0.96RERAX Europacific GrowthPairCorr
  0.92HCMBX Hcm Dynamic IncomePairCorr
  0.77CREYX Columbia Real EstatePairCorr
  0.94GTENX Gateway Fund ClassPairCorr
  0.92ICLLX Transamerica AssetPairCorr
  0.97SAGCX Clearbridge AggressivePairCorr
  0.9APDIX Artisan InternationalPairCorr
  0.95MPAIX Advantage Portfolio ClassPairCorr
  0.62CEDLX Destra InternationalPairCorr

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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