Smallcap Correlations

Mutual Funds . USA . 
Fund . Smallcap Sp 600
PSPIX Fund  USD 25.05  0.16  0.63%   
The current 90-days correlation between Smallcap Sp 600 and Global Resources Fund is 0.02 (i.e., Significant 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

Very poor diversification

The correlation between Smallcap Sp 600 and DJI is 0.86 (i.e., Very poor 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 gross domestic product.

Moving together with Smallcap Mutual Fund

  0.95SABPX Strategic Asset ManaPairCorr
  0.95SACAX Strategic Asset ManaPairCorr
  0.95SAGPX Strategic Asset ManaPairCorr
  0.92PFIJX Strategic Asset ManaPairCorr
  0.89PFIEX International EquityPairCorr
  0.93PFIFX Strategic Asset ManaPairCorr
  0.89PFISX International Small PanyPairCorr
  0.93PFIPX Strategic Asset ManaPairCorr
  0.94SAIPX Strategic Asset ManaPairCorr
  0.95PFLJX Principal Lifetime 2050PairCorr
  0.97PFPPX Midcap GrowthPairCorr
  0.93SAUPX Strategic Asset ManaPairCorr
  0.91PFUMX Finisterre UnconstrainedPairCorr
  0.92PGBAX Global Diversified IncomePairCorr
  0.92PGBLX Global Diversified IncomePairCorr
  0.97PGBEX Blue Chip FundPairCorr
  0.94PGBGX Blue Chip FundPairCorr
  0.97PGBHX Blue Chip FundPairCorr
  0.92PGDCX Global Diversified IncomePairCorr
  0.92PGDIX Global Diversified IncomePairCorr
  0.89PGDRX Diversified Real AssetPairCorr
  0.94PGLSX Global Multi StrategyPairCorr
  0.75STCCX Short Term IncomePairCorr
  0.97PGRTX Smallcap GrowthPairCorr
  0.73PGRUX Global Real EstatePairCorr
  0.71PGRKX Global Real EstatePairCorr
  0.97PGWIX Midcap GrowthPairCorr
  0.97SCBPX Strategic Asset ManaPairCorr
  0.96SCIPX Strategic Asset ManaPairCorr
  0.98SCGPX Strategic Asset ManaPairCorr
  0.97PHJEX Principal Lifetime HybridPairCorr
  0.93PHJFX Principal Lifetime HybridPairCorr
  0.97PHJGX Principal Lifetime HybridPairCorr
  0.94PHJBX Principal Lifetime HybridPairCorr
  0.97PHJDX Principal Lifetime HybridPairCorr
  0.94PHJNX Principal Lifetime HybridPairCorr
  0.94PHJQX Principal Lifetime HybridPairCorr
  0.97PHJJX Principal Lifetime HybridPairCorr

Related Correlations Analysis

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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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