Smallcap Correlations

Mutual Funds . USA . 
Fund . Smallcap Sp 600
PSPIX Fund  USD 26.58  0.97  3.79%   
The current 90-days correlation between Smallcap Sp 600 and Gold And Precious is -0.07 (i.e., Good diversification). The correlation of Smallcap 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.

Smallcap Correlation With Market

Good diversification

The correlation between Smallcap Sp 600 and DJI is -0.02 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Smallcap Sp 600 and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Smallcap Sp 600. 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 inflation.

Moving together with Smallcap Mutual Fund

  0.78PFIEX International EquityPairCorr
  0.68PFPPX Midcap GrowthPairCorr
  0.86PGBAX Global Diversified IncomePairCorr
  0.72PGWIX Midcap GrowthPairCorr
  0.91PHJGX Principal Lifetime HybridPairCorr
  0.67PHPPX Midcap GrowthPairCorr
  0.91MPSIX Midcap Sp 400PairCorr
  0.78PMAPX Midcap Sp 400PairCorr
  0.91PMDDX Small Midcap DividendPairCorr
  0.64PPIMX Midcap GrowthPairCorr
  0.64PPQMX Midcap GrowthPairCorr
  0.74PPQJX Midcap GrowthPairCorr
  0.91PSBMX Smallcap Fund FkaPairCorr
  0.88PSIJX Smallcap GrowthPairCorr
  0.83PCBIX Midcap Fund InstitutionalPairCorr
  0.92VSMAX Vanguard Small CapPairCorr
  0.92VSCIX Vanguard Small CapPairCorr
  0.92VSCPX Vanguard Small CapPairCorr
  0.92NAESX Vanguard Small CapPairCorr
  0.93FSSNX Fidelity Small CapPairCorr
  0.92DFSTX Us Small CapPairCorr
  0.9PASVX T Rowe PricePairCorr
  0.91PRVIX T Rowe PricePairCorr
  0.91TRZVX T Rowe PricePairCorr
  0.91PRSVX T Rowe PricePairCorr
  0.87PFN Pimco Income StrategyPairCorr
  0.82CIF Mfs Intermediate HighPairCorr
  0.85PCF Putnam High IncomePairCorr
  0.91FTGTX Franklin Growth AlloPairCorr
  0.63IFAFX Income FundPairCorr
  0.69GVEZX Value Equity InvestorPairCorr

Moving against Smallcap Mutual Fund

  0.7XNBHX Neuberger Berman IntPairCorr
  0.57XDSMX Dreyfus StrategicPairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

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