Needham Small Correlations

Mutual Funds . USA . 
Fund . Needham Small Cap
NESIX Fund  USD 22.16  0.11  0.49%   
The current 90-days correlation between Needham Small Cap and Needham Small Cap is -0.16 (i.e., Good diversification). The correlation of Needham Small 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.

Needham Small Correlation With Market

Good diversification

The correlation between Needham Small Cap and DJI is -0.11 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Needham Small Cap 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 Needham Small 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 gross domestic product.

Moving together with Needham Mutual Fund

  0.73NEAIX Needham Aggressive GrowthPairCorr
  0.73NEAGX Needham Aggressive GrowthPairCorr
  0.82NEEGX Needham GrowthPairCorr
  0.95NEEIX Needham GrowthPairCorr
  0.86NESGX Needham Small CapPairCorr
  0.66VSMAX Vanguard Small CapPairCorr
  0.66VSCIX Vanguard Small CapPairCorr
  0.66VSCPX Vanguard Small CapPairCorr
  0.66NAESX Vanguard Small CapPairCorr
  0.73FSSNX Fidelity Small CapPairCorr
  0.65PASVX T Rowe PricePairCorr
  0.65PRVIX T Rowe PricePairCorr
  0.65TRZVX T Rowe PricePairCorr
  0.65PRSVX T Rowe PricePairCorr
  0.7MGHRX Morgan Stanley InstiPairCorr
  0.72MBIRX Morgan Stanley InsightPairCorr
  0.7MGRPX Growth Portfolio ClassPairCorr
  0.72MCRTX Morgan Stanley MultiPairCorr
  0.68ONERX One Rock FundPairCorr
  0.71MSGUX Growth Portfolio ClassPairCorr
  0.73MSCMX Morgan Stanley MultiPairCorr
  0.68MFJUX Mfs Lifetime 2060PairCorr
  0.76AHYHX High Yield FundPairCorr
  0.72FXAIX Fidelity 500 IndexPairCorr
  0.78PMACX Pioneer Multi AssetPairCorr
  0.72PCODX Pioneer Fund PioneerPairCorr
  0.63FFXSX Fidelity Limited TermPairCorr
  0.68JHAVX John Hancock FundsPairCorr
  0.69HBLFX Hartford BalancedPairCorr
  0.74JSVUX Jpmorgan Small CapPairCorr
  0.74FCISX Franklin IncomePairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

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