Smallcap World Correlations

Mutual Funds . USA . 
Fund . Smallcap World Fund
CSPEX Fund  USD 68.12  0.17  0.25%   
The current 90-days correlation between Smallcap World and Iaadx is 0.21 (i.e., Modest 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

Almost no diversification

The correlation between Smallcap World Fund and DJI is 0.94 (i.e., Almost no 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 income.

Moving together with Smallcap Mutual Fund

  0.91AMFCX American MutualPairCorr
  0.91AMFFX American MutualPairCorr
  0.98RNCCX American Funds IncomePairCorr
  0.61FPPPX American Funds PresePairCorr
  0.98FPTPX American Funds ConsePairCorr
  0.77TEPFX American Funds TaxPairCorr
  0.97GWPAX American Funds GrowthPairCorr
  1.0GWPCX American Funds GrowthPairCorr
  1.0GWPFX American Funds GrowthPairCorr
  1.0SCWFX Smallcap WorldPairCorr
  0.97CGQGX American Funds GrowthPairCorr
  1.0CGRGX American Funds GrowthPairCorr
  0.94RRPPX American Funds RetirementPairCorr
  1.0FCJTX American Funds 2055PairCorr
  0.99RRQPX American Funds RetirementPairCorr
  0.97RROPX American Funds RetirementPairCorr
  1.0FCKTX American Funds 2060PairCorr
  0.98RBDTX American Funds 2025PairCorr
  1.0FGPGX American Funds GrowthPairCorr
  0.98REJTX American Funds 2015PairCorr
  0.97NFFFX New World FundPairCorr
  0.91AFMFX American MutualPairCorr
  0.98RIRBX Capital Income BuilderPairCorr
  0.97RIVDX American Funds InterPairCorr
  1.0CSPFX Smallcap WorldPairCorr
  0.97FPGGX American Funds GrowthPairCorr
  1.0FSWFX American Funds SmallcapPairCorr
  1.0FSFWX American Funds SmallcapPairCorr
  0.97SCWCX American Fds SmallcapPairCorr
  0.97SMCWX Smallcap WorldPairCorr
  0.97CSPAX Smallcap WorldPairCorr

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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