Small Cap Correlations

Mutual Funds USA . 
Fund . Small Cap Equity
GTSCX Fund  USD 32.58  0.31  0.94%   
The current 90-days correlation between Small Cap Equity and John Hancock Disciplined is 0.86 (i.e., Very poor 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

Very poor diversification

The correlation between Small Cap Equity and DJI is 0.82 (i.e., Very poor 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 main economic indicators.

Moving together with Small Mutual Fund

  0.93NOVIX Glenmede InternationalPairCorr
  0.96GEQIX Equity Income PortfolioPairCorr
  0.97GWILX Woman In LeadershipPairCorr
  0.98RESGX Responsible Esg EquityPairCorr
  0.9GLSOX Secured Options PortfolioPairCorr
  0.97GQLVX Quantitative U SPairCorr
  0.98GQSCX Quantitative U SPairCorr
  0.86GTAPX Long/short PortfolioPairCorr
  0.95GTCEX Strategic Equity PorPairCorr
  0.88GTCIX International PortfolioPairCorr
  1.0GTCSX Small Cap EquityPairCorr
  0.96GTILX Large Cap GrowthPairCorr
  0.98GTLIX Large Cap CorePairCorr
  0.96GTLLX Large Cap GrowthPairCorr
  0.98GTLOX Large Cap EPairCorr
  0.87GTLSX Quantitative LongshortPairCorr
  0.9GTSOX Secured Options PortfolioPairCorr
  0.96GTTMX Total Market PortfolioPairCorr
  0.98VSMAX Vanguard Small CapPairCorr
  0.98VSCIX Vanguard Small CapPairCorr
  0.98VSCPX Vanguard Small CapPairCorr
  0.98NAESX Vanguard Small CapPairCorr
  0.97FSSNX Fidelity Small CapPairCorr
  0.99DFSTX Us Small CapPairCorr
  0.99PASVX T Rowe PricePairCorr
  0.99PRVIX T Rowe PricePairCorr
  0.99TRZVX T Rowe PricePairCorr
  0.99PRSVX T Rowe PricePairCorr
  0.89BRUFX Bruce Fund BrucePairCorr
  0.94SPGSX State Street PremierPairCorr
  0.8KF Korea ClosedPairCorr
  0.9WFGGX Wcm Focused GlobalPairCorr
  0.93AFGZX Alger Global GrowthPairCorr
  0.94AAAGX Thrivent Large CapPairCorr
  0.92SCGVX Sands Capital GlobalPairCorr
  0.95PAFFX T Rowe PricePairCorr

Related Correlations Analysis

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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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