Small Cap Correlations

Mutual Funds . USA . 
Fund . Small Cap Equity
GSCYX Fund  USD 17.86  0.20  1.13%   
The current 90-days correlation between Small Cap Equity and Multisector Bond Sma is 0.06 (i.e., Significant diversification). The correlation of Small Cap 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.

Small Cap Correlation With Market

Good diversification

The correlation between Small Cap Equity and DJI is -0.16 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Small Cap Equity and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Small Cap Equity. 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 manufacturing.

Moving together with Small Mutual Fund

  0.97GGRYX Growth AllocationPairCorr
  0.79GREZX Global Real EstatePairCorr
  0.97VSMAX Vanguard Small CapPairCorr
  0.97VSCIX Vanguard Small CapPairCorr
  0.97VSCPX Vanguard Small CapPairCorr
  0.97NAESX Vanguard Small CapPairCorr
  0.96FSSNX Fidelity Small CapPairCorr
  0.96DFSTX Us Small CapPairCorr
  0.96PASVX T Rowe PricePairCorr
  1.0PRVIX T Rowe PricePairCorr
  0.96TRZVX T Rowe PricePairCorr
  1.0PRSVX T Rowe PricePairCorr
  0.99VTSAX Vanguard Total StockPairCorr
  0.99VFIAX Vanguard 500 IndexPairCorr
  0.99VTSMX Vanguard Total StockPairCorr
  0.99VSMPX Vanguard Total StockPairCorr
  0.99VSTSX Vanguard Total StockPairCorr
  0.97VITSX Vanguard Total StockPairCorr
  0.97VFINX Vanguard 500 IndexPairCorr
  0.99VFFSX Vanguard 500 IndexPairCorr
  0.96VGTSX Vanguard Total InterPairCorr
  0.97VTIAX Vanguard Total InterPairCorr
  0.92TFCAX Tax Free ConservativePairCorr
  0.97CLREX Columbia BalancedPairCorr
  0.96JDHYX Janus High YieldPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Small Mutual Fund performing well and Small Cap 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 Small Cap'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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