Smallcap World Correlations
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.
Smallcap |
Moving together with Smallcap Mutual Fund
0.87 | FSWFX | American Funds Smallcap | PairCorr |
0.87 | FSFWX | American Funds Smallcap | PairCorr |
1.0 | SCWCX | American Fds Smallcap | PairCorr |
0.87 | SCWFX | Smallcap World | PairCorr |
1.0 | SMCWX | Smallcap World | PairCorr |
0.87 | CSPFX | Smallcap World | PairCorr |
0.87 | CSPEX | Smallcap World | PairCorr |
0.87 | RSLCX | Smallcap World | PairCorr |
1.0 | RLLGX | Smallcap World | PairCorr |
0.88 | SMPIX | Semiconductor Ultrasector | PairCorr |
0.98 | SMPSX | Semiconductor Ultrasector | PairCorr |
0.97 | RSNRX | Victory Global Natural | PairCorr |
0.83 | EMO | Clearbridge Energy Mlp | PairCorr |
0.88 | RSNYX | Victory Global Natural | PairCorr |
0.67 | SPMPX | Invesco Steelpath Mlp | PairCorr |
0.87 | RGNCX | Victory Global Natural | PairCorr |
0.66 | OSPPX | Oppenheimer Steelpath Mlp | PairCorr |
0.66 | MLPNX | Oppenheimer Steelpath Mlp | PairCorr |
0.87 | MMIZX | Mm Sp 500 | PairCorr |
0.8 | PHK | Pimco High Income | PairCorr |
0.79 | FISAX | Franklin Adjustable | PairCorr |
0.7 | ESPCX | Wells Fargo Advantage | PairCorr |
0.97 | CFJAX | Calvert Large Cap | PairCorr |
0.99 | CVLOX | Calamos Global Growth | PairCorr |
0.93 | ARSVX | Amg River Road | PairCorr |
0.64 | WATPX | Western Asset Inflation | PairCorr |
0.82 | SJCRX | Steward Large Cap | PairCorr |
0.63 | TIKPX | Tiaa Cref Inflation | PairCorr |
0.86 | PLCGX | Largecap Growth | PairCorr |
0.94 | PAEMX | Emerging Markets Bond | PairCorr |
0.83 | UIVMX | Mfs Intrinsic Value | PairCorr |
0.87 | JNRFX | Janus Research | PairCorr |
0.97 | PWRIX | Power Income | PairCorr |
0.86 | GOVIX | Gmo Resources Steady Growth | PairCorr |
0.96 | DFFGX | Dfa Short Term | PairCorr |
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.Mean Deviation | Jensen Alpha | Sortino Ratio | Treynor Ratio | Semi Deviation | Expected Shortfall | Potential Upside | Value @Risk | Maximum Drawdown | ||
---|---|---|---|---|---|---|---|---|---|---|
PYRLX | 0.12 | 0.03 | (1.06) | 0.48 | 0.00 | 0.32 | 1.05 | |||
RIMOX | 0.06 | 0.03 | (2.82) | 1.92 | 0.00 | 0.16 | 0.47 | |||
NHIEX | 0.14 | 0.03 | (1.18) | 0.56 | 0.00 | 0.40 | 0.91 | |||
FAGIX | 0.23 | 0.11 | (0.49) | (3.47) | 0.00 | 0.68 | 1.90 | |||
FPIOX | 0.14 | 0.06 | (1.04) | 3.79 | 0.00 | 0.46 | 1.16 | |||
PAXHX | 0.13 | 0.02 | (0.89) | 0.43 | 0.00 | 0.50 | 0.84 | |||
BHYRX | 0.13 | 0.05 | (1.07) | 2.54 | 0.00 | 0.43 | 1.00 | |||
CRDOX | 0.10 | 0.05 | (1.36) | 3.93 | 0.00 | 0.23 | 0.80 |