Smallcap World Correlations

Mutual Funds . USA . 
Fund . Smallcap World Fund
CSPFX Fund  USD 72.96  0.43  0.59%   
The current 90-days correlation between Smallcap World and Dana Large Cap is 0.91 (i.e., Almost no 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 0.87 (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 census.

Moving together with SMALLCAP Mutual Fund

  0.97AMFCX American MutualPairCorr
  0.97AMFFX American MutualPairCorr
  0.99RNCCX American Funds IncomePairCorr
  0.74FPPPX American Funds PresePairCorr
  0.85AMHIX American High IncomePairCorr
  0.97FPTPX American Funds ConsePairCorr
  0.7TEFEX Tax Exempt FundPairCorr
  0.99RNPGX New PerspectivePairCorr
  0.96TEPFX American Funds TaxPairCorr
  1.0RNWGX New World FundPairCorr
  0.99BALFX American BalancedPairCorr
  0.97BALCX American BalancedPairCorr
  0.99FAETX American Funds 2030PairCorr
  0.99FAFGX American FundsPairCorr
  0.99GFACX Growth FundPairCorr
  0.98GFAFX Growth FundPairCorr
  1.0SCWFX Smallcap WorldPairCorr
  0.99FBAFX American Funds AmericanPairCorr
  1.0FSWFX American Funds SmallcapPairCorr
  0.98CGFEX Growth FundPairCorr
  0.99CGFFX Growth FundPairCorr
  0.97CGFCX Growth FundPairCorr
  0.98CGFAX Growth FundPairCorr
  0.99FBONX American Funds AmericanPairCorr
  0.97RRPPX American Funds RetirementPairCorr
  1.0FCJTX American Funds 2055PairCorr
  0.99RRQPX American Funds RetirementPairCorr
  0.98RROPX American Funds RetirementPairCorr
  0.99FUNFX American Funds FundaPairCorr
  0.99CIMCX Income FundPairCorr
  0.99CIREX Capital Income BuilderPairCorr
  0.99CIRFX Capital Income BuilderPairCorr
  0.97CIRCX Capital Income BuilderPairCorr
  0.97CIRAX Capital Income BuilderPairCorr
  0.98AAETX American Funds 2030PairCorr
  0.61RBOBX Intermediate BondPairCorr
  0.63RBOAX Intermediate BondPairCorr
  0.97ABALX American BalancedPairCorr

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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