Small Cap Correlations

Mutual Funds . USA . 
Fund . Small Cap Core
SCRYX Fund  USD 11.93  0.03  0.25%   
The current 90-days correlation between Small Cap Core and Guidemark Large Cap is 0.58 (i.e., Very weak diversification). The correlation of Small Cap 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.

Small Cap Correlation With Market

Very poor diversification

The correlation between Small Cap Core and DJI is 0.85 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Small Cap Core and DJI in the same portfolio, assuming nothing else is changed.
  
Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Small Cap Core. 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 manufacturing.

Moving together with Small Mutual Fund

  0.97GCEAX Ab Global EPairCorr
  0.99GCECX Ab Global EPairCorr
  0.99GCEYX Ab Global EPairCorr
  0.95AMTAX Ab All MarketPairCorr
  0.95AMTZX Ab All MarketPairCorr
  0.95AMTYX Ab All MarketPairCorr
  0.97AMTOX Ab All MarketPairCorr
  0.78ANAZX Ab Global BondPairCorr
  0.76ANAYX Ab Global BondPairCorr
  0.73ANAGX Ab Global BondPairCorr
  0.75ANAIX Ab Global BondPairCorr
  0.74ANBIX Ab Bond InflationPairCorr
  0.91ANIAX New York MunicipalPairCorr
  0.92ANIYX New York MunicipalPairCorr
  0.89ANMCX New York MunicipalPairCorr
  0.96STEYX International StrategicPairCorr
  0.96STEZX International StrategicPairCorr
  0.96STESX International StrategicPairCorr
  0.79STHAX Ab Sustainable ThematicPairCorr
  0.82STHYX Ab Sustainable ThematicPairCorr
  0.97SCAVX Ab Small CapPairCorr
  0.99SCCVX Ab Small CapPairCorr
  0.97SCRSX Small Cap CorePairCorr
  0.97SCRZX Small Cap CorePairCorr
  0.97SCYVX Ab Small CapPairCorr
  0.99APGZX Ab Large CapPairCorr
  0.99APGYX Ab Large CapPairCorr
  0.96APGAX Ab Large CapPairCorr
  0.99APGCX Ab Large CapPairCorr
  0.97SUTAX Ab Sustainable ThematicPairCorr
  0.97SUTCX Ab Sustainable ThematicPairCorr
  0.99SUTZX Ab Sustainable ThematicPairCorr
  0.99APWIX Ab Servative WealthPairCorr
  0.97CHCLX Ab Discovery GrowthPairCorr
  0.99CHCIX Ab Discovery GrowthPairCorr
  0.97CHCCX Ab Discovery GrowthPairCorr
  0.99CHCYX Ab Discovery GrowthPairCorr
  0.97CHCZX Ab Discovery GrowthPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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