Smallcap Correlations

Mutual Funds . USA . 
Fund . Smallcap Sp 600
PSPIX Fund  USD 26.58  0.23  0.87%   
The current 90-days correlation between Smallcap Sp 600 and Auer Growth Fund is 0.79 (i.e., Poor 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 0.81 (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

  0.82SABPX Strategic Asset ManaPairCorr
  0.83SACAX Strategic Asset ManaPairCorr
  0.82SAGPX Strategic Asset ManaPairCorr
  0.81PFIJX Strategic Asset ManaPairCorr
  0.75PFIEX International EquityPairCorr
  0.8PFIFX Strategic Asset ManaPairCorr
  0.66PFISX International Small PanyPairCorr
  0.81PFIPX Strategic Asset ManaPairCorr
  0.8SAIPX Strategic Asset ManaPairCorr
  0.85PFLJX Principal Lifetime 2050PairCorr
  0.67PFRSX Real Estate SecuritiesPairCorr
  0.81SAUPX Strategic Asset ManaPairCorr
  0.69PFUMX Finisterre UnconstrainedPairCorr
  0.78PGBAX Global Diversified IncomePairCorr
  0.79PGBLX Global Diversified IncomePairCorr
  0.79PGDCX Global Diversified IncomePairCorr
  0.79PGDIX Global Diversified IncomePairCorr
  0.76PGDRX Diversified Real AssetPairCorr
  0.73PGLSX Global Multi StrategyPairCorr
  0.73STCCX Short Term IncomePairCorr
  0.84PGRTX Smallcap GrowthPairCorr
  0.78PGRUX Global Real EstatePairCorr
  0.77PGRKX Global Real EstatePairCorr
  0.82SCBPX Strategic Asset ManaPairCorr
  0.81SCIPX Strategic Asset ManaPairCorr
  0.82SCGPX Strategic Asset ManaPairCorr
  0.78PHJEX Principal Lifetime HybridPairCorr
  0.78PHJFX Principal Lifetime HybridPairCorr
  0.77PHJGX Principal Lifetime HybridPairCorr
  0.77PHJBX Principal Lifetime HybridPairCorr
  0.77PHJDX Principal Lifetime HybridPairCorr
  0.78PHJNX Principal Lifetime HybridPairCorr
  0.78PHJQX Principal Lifetime HybridPairCorr
  0.78PHJJX Principal Lifetime HybridPairCorr
  0.78PHJMX Principal Lifetime HybridPairCorr
  0.77PHJYX Principal Lifetime HybridPairCorr

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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