Champlain Small Correlations

Mutual Funds . USA . 
Fund . Champlain Small
CIPNX Fund  USD 22.70  0.25  1.11%   
The current 90-days correlation between Champlain Small and The Hartford Midcap is 0.87 (i.e., Very poor diversification). The correlation of Champlain Small 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 Small Correlation With Market

Average diversification

The correlation between Champlain Small and DJI is 0.13 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Champlain Small 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 Small. 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 board of governors.

Moving together with Champlain Mutual Fund

  0.76CIPMX Champlain Mid CapPairCorr
  0.76CIPIX Champlain Mid CapPairCorr
  1.0CIPSX Champlain Small PanyPairCorr
  0.72VSGAX Vanguard Small CapPairCorr
  0.72VSGIX Vanguard Small CapPairCorr
  0.84VISGX Vanguard Small CapPairCorr
  0.83VEXPX Vanguard ExplorerPairCorr
  0.94VEXRX Vanguard ExplorerPairCorr
  0.88JGMIX Janus TritonPairCorr
  0.87JGMRX Janus TritonPairCorr
  0.96JGMAX Janus TritonPairCorr
  0.88JGMCX Janus TritonPairCorr
  0.88JGMNX Janus TritonPairCorr
  0.74FTYPX Fidelity Freedom IndexPairCorr
  0.73FFBTX Fidelity Freedom BlendPairCorr
  0.89GCAVX Gmo Small CapPairCorr
  0.71GQLOX Gmo Quality FundPairCorr
  0.82GHVIX Gmo High YieldPairCorr
  0.83GAB Gabelli Equity TrustPairCorr
  0.77SLVAX Columbia Select LargePairCorr
  0.8CSHNX Mainstay Cushing MlpPairCorr
  0.65LAUVX Lord Abbett IncomePairCorr
  0.68HAOSX Harbor OverseasPairCorr
  0.67PFJDX Riskproreg DynamicPairCorr
  0.65BYSAX Bny Mellon ShortPairCorr
  0.63PTRAX Total ReturnPairCorr
  0.89HSMTX Hartford Small CapPairCorr
  0.73ASGI Aberdeen Standard GlobalPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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