Smallcap World Correlations

Mutual Funds . USA . 
Fund . Smallcap World Fund
CSPAX Fund  USD 72.65  0.89  1.24%   
The current 90-days correlation between Smallcap World and Payden High Income is 0.63 (i.e., Poor diversification). The correlation of Smallcap World 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.

Smallcap World Correlation With Market

Very poor diversification

The correlation between Smallcap World Fund and DJI is 0.84 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Smallcap World Fund 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 Smallcap World Fund. 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 nation.

Moving together with Smallcap Mutual Fund

  0.87FSWFX American Funds SmallcapPairCorr
  0.87FSFWX American Funds SmallcapPairCorr
  1.0SCWCX American Fds SmallcapPairCorr
  0.87SCWFX Smallcap WorldPairCorr
  1.0SMCWX Smallcap WorldPairCorr
  0.87CSPFX Smallcap WorldPairCorr
  0.87CSPEX Smallcap WorldPairCorr
  0.87RSLCX Smallcap WorldPairCorr
  1.0RLLGX Smallcap WorldPairCorr
  0.88SMPIX Semiconductor UltrasectorPairCorr
  0.98SMPSX Semiconductor UltrasectorPairCorr
  0.97RSNRX Victory Global NaturalPairCorr
  0.83EMO Clearbridge Energy MlpPairCorr
  0.88RSNYX Victory Global NaturalPairCorr
  0.67SPMPX Invesco Steelpath MlpPairCorr
  0.87RGNCX Victory Global NaturalPairCorr
  0.66OSPPX Oppenheimer Steelpath MlpPairCorr
  0.66MLPNX Oppenheimer Steelpath MlpPairCorr
  0.87MMIZX Mm Sp 500PairCorr
  0.8PHK Pimco High IncomePairCorr
  0.79FISAX Franklin AdjustablePairCorr
  0.7ESPCX Wells Fargo AdvantagePairCorr
  0.97CFJAX Calvert Large CapPairCorr
  0.99CVLOX Calamos Global GrowthPairCorr
  0.93ARSVX Amg River RoadPairCorr
  0.64WATPX Western Asset InflationPairCorr
  0.82SJCRX Steward Large CapPairCorr
  0.63TIKPX Tiaa Cref InflationPairCorr
  0.86PLCGX Largecap GrowthPairCorr
  0.94PAEMX Emerging Markets BondPairCorr
  0.83UIVMX Mfs Intrinsic ValuePairCorr
  0.87JNRFX Janus ResearchPairCorr
  0.97PWRIX Power IncomePairCorr
  0.86GOVIX Gmo Resources Steady GrowthPairCorr
  0.96DFFGX Dfa Short TermPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Smallcap Mutual Fund performing well and Smallcap World 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 Smallcap World'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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