Jacob Micro Correlations

Mutual Funds . USA . 
Fund . Jacob Micro Cap
JMIGX Fund  USD 26.86  0.49  1.86%   
The current 90-days correlation between Jacob Micro Cap and Jacob Internet Fund is 0.82 (i.e., Very poor diversification). The correlation of Jacob Micro 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.

Jacob Micro Correlation With Market

Poor diversification

The correlation between Jacob Micro Cap and DJI is 0.68 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Jacob Micro Cap 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 Jacob Micro Cap. 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 price.

Moving together with Jacob Mutual Fund

  0.96JAMFX Jacob Internet Steady GrowthPairCorr
  0.99JSCGX Jacob Small CapPairCorr
  0.95JSIGX Jacob Small CapPairCorr
  1.0JMCGX Jacob Micro Cap Steady GrowthPairCorr
  0.93VSMAX Vanguard Small CapPairCorr
  0.93VSCIX Vanguard Small CapPairCorr
  0.93VSCPX Vanguard Small CapPairCorr
  0.93NAESX Vanguard Small CapPairCorr
  0.95FSSNX Fidelity Small CapPairCorr
  0.92DFSTX Us Small CapPairCorr
  0.93PASVX T Rowe PricePairCorr
  0.92PRVIX T Rowe PricePairCorr
  0.93TRZVX T Rowe PricePairCorr
  0.93PRSVX T Rowe PricePairCorr
  0.76GAAKX Gmo Alternative AlloPairCorr
  0.72GAAGX Gmo Alternative AlloPairCorr
  0.64GPBFX Gmo E PlusPairCorr
  0.94EPLDX Mainstay Epoch EquityPairCorr
  0.93FSEAX Fidelity Emerging AsiaPairCorr
  0.61FPPXX First American FundsPairCorr
  0.85LIOTX Issachar Fund ClassPairCorr
  0.92MHCAX Mainstay High YieldPairCorr
  0.93CAMRX Calvert Moderate AllPairCorr
  0.94AILIX Cavanal Hill HedgedPairCorr
  0.89NCBVX Prudential Qma MidPairCorr
  0.93WABMOX WabmoxPairCorr
  0.91MCKNX Mainstay ConservativePairCorr
  0.9ASG Liberty All StarPairCorr
  0.89BDFIX Baron DiscoveryPairCorr
  0.92CCATX American Funds 2010PairCorr
  0.92PSFAX Short Term FundPairCorr
  0.89XWDIX Western Asset DiversifiedPairCorr
  0.89FIGFX Fidelity InternationalPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Jacob Mutual Fund performing well and Jacob Micro 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 Jacob Micro'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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