Smallcap World Correlations

Mutual Funds . USA . 
Fund . Smallcap World Fund
CSPAX Fund  USD 72.65  0.45  0.62%   
The current 90-days correlation between Smallcap World and Payden High Income is 0.66 (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

Good diversification

The correlation between Smallcap World Fund and DJI is -0.17 (i.e., Good 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

  0.99AMECX Income FundPairCorr
  1.0RNEBX New World FundPairCorr
  0.99AMFCX American MutualPairCorr
  0.99AMFFX American MutualPairCorr
  0.98RNCCX American Funds IncomePairCorr
  0.7FPPPX American Funds PresePairCorr
  0.98AMEFX Income FundPairCorr
  1.0RNGGX New Economy FundPairCorr
  0.99RNGFX New Economy FundPairCorr
  1.0RNGHX New Economy FundPairCorr
  0.99RNGBX New Economy FundPairCorr
  0.99RNGAX New Economy FundPairCorr
  0.99RNGEX New Economy FundPairCorr
  0.99RNGCX New Economy FundPairCorr
  0.67AMHIX American High IncomePairCorr
  0.98FPTPX American Funds ConsePairCorr
  0.99RNNEX New Economy FundPairCorr
  0.99CDJAX American Funds CollegePairCorr
  0.98AMPCX Amcap Fund ClassPairCorr
  0.98AMPFX Amcap Fund ClassPairCorr
  0.98RNPBX New PerspectivePairCorr
  0.98RNPAX New PerspectivePairCorr
  0.98RNPHX New PerspectivePairCorr
  0.98RNPGX New PerspectivePairCorr
  0.98RNPCX New PerspectivePairCorr
  0.98RNPFX New PerspectivePairCorr
  0.98RNPEX New PerspectivePairCorr
  0.99AMRMX American MutualPairCorr
  0.98AMRFX American MutualPairCorr
  0.98RNRPX American Funds RetirementPairCorr
  0.96TEPCX American Funds TaxPairCorr
  0.97TEPAX American Funds TaxPairCorr
  0.97TEPFX American Funds TaxPairCorr
  0.99RNWFX New World FundPairCorr

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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