Sp Midcap Correlations

MIDKX Fund

USD 24.72 0.06 0.24%

The current 90-days correlation between Sp Midcap Index and Putnam Diversified Income is 0.28 (i.e., Modest diversification). The correlation of Sp Midcap 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.

Sp Midcap Correlation With Market

Poor diversification

The correlation between Sp Midcap Index and DJI is 0.69 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sp Midcap Index and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Sp Midcap Index. 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 bureau of economic analysis.

Moving together with MIDKX Mutual Fund

0.7	NQQQX	Shelton Funds	Pair Corr
0.78	NASDX	Nasdaq 100 Index	Pair Corr
0.77	EQTKX	Shelton E Value	Pair Corr
0.8	EQTIX	Shelton E Value	Pair Corr
0.69	SISEX	Shelton International	Pair Corr
0.68	SISLX	Shelton International	Pair Corr
0.88	SMCIX	Sp Smallcap Index	Pair Corr
0.68	DEBTX	Shelton Tactical Credit	Pair Corr
0.69	DEBIX	Shelton Tactical Credit	Pair Corr
0.83	SPFIX	Sp 500 Index	Pair Corr
1.0	SPMIX	Sp Midcap Index	Pair Corr
0.83	SPXKX	Sp 500 Index	Pair Corr
0.64	VEXAX	Vanguard Extended Market	Pair Corr
0.64	VEMPX	Vanguard Extended Market	Pair Corr
0.64	VIEIX	Vanguard Extended Market	Pair Corr
0.63	VEXMX	Vanguard Extended Market	Pair Corr
0.71	FSMDX	Fidelity Mid Cap	Pair Corr
0.79	WAMCX	Wasatch Ultra Growth	Pair Corr

Moving against MIDKX Mutual Fund

0.79	UIPIX	Ultrashort Mid Cap	Pair Corr
0.52	USPIX	Profunds Ultrashort	Pair Corr
0.47	USPSX	Profunds Ultrashort	Pair Corr
0.33	CESGX	Coho Relative Value	Pair Corr

Related Correlations Analysis

	PDINX	WCAFX	DLTZX	MCKSX	CAARX	EIIMX	QDARX
PDINX		0.61	0.85	0.77	0.79	0.78	0.71	PDINX
WCAFX	0.61		0.51	0.87	0.79	0.48	0.57	WCAFX
DLTZX	0.85	0.51		0.69	0.76	0.89	0.82	DLTZX
MCKSX	0.77	0.87	0.69		0.87	0.75	0.63	MCKSX
CAARX	0.79	0.79	0.76	0.87		0.77	0.71	CAARX
EIIMX	0.78	0.48	0.89	0.75	0.77		0.75	EIIMX
QDARX	0.71	0.57	0.82	0.63	0.71	0.75		QDARX
	PDINX	WCAFX	DLTZX	MCKSX	CAARX	EIIMX	QDARX

Risk-Adjusted Indicators

There is a big difference between MIDKX Mutual Fund performing well and Sp Midcap 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 Sp Midcap'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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
PDINX	0.11	(0.01)	(0.39)	(0.09)	0.08	(0.21)	0.20	(0.20)	0.60
WCAFX	0.28	0.00	(0.17)	0.04	0.34	(0.32)	0.55	(0.54)	1.74
DLTZX	0.07	0.00	(0.49)	(0.21)	0.00	(0.19)	0.13	(0.13)	0.64
MCKSX	0.24	0.00	(0.18)	0.14	0.30	(0.25)	0.56	(0.47)	1.52
CAARX	0.21	(0.01)	(0.18)	0.04	0.22	(0.24)	0.52	(0.47)	1.21
EIIMX	0.14	0.02	(0.21)	0.44	0.00	(0.18)	0.30	(0.29)	0.74
QDARX	0.06	0.02	(0.57)	6.66	0.00	(0.10)	0.15	(0.08)	0.38

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