Smallcap World Correlations

Mutual Funds . USA . 
Fund . Smallcap World Fund
SCWFX Fund  USD 71.65  0.16  0.22%   
The current 90-days correlation between Smallcap World and New World Fund is 0.88 (i.e., Very poor diversification). The correlation of Smallcap World 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 World Correlation With Market

Very poor diversification

The correlation between Smallcap World Fund 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 Smallcap World Fund 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 Smallcap World Fund. 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 census.

Moving together with Smallcap Mutual Fund

  0.99AMFCX American MutualPairCorr
  0.99AMFFX American MutualPairCorr
  0.99RNCCX American Funds IncomePairCorr
  0.71FPPPX American Funds PresePairCorr
  0.78AMHIX American High IncomePairCorr
  0.99FPTPX American Funds ConsePairCorr
  0.99RNPGX New PerspectivePairCorr
  0.97TEPFX American Funds TaxPairCorr
  1.0RNWGX New World FundPairCorr
  0.99BALFX American BalancedPairCorr
  0.99BALCX American BalancedPairCorr
  0.99FAETX American Funds 2030PairCorr
  1.0FAFGX American FundsPairCorr
  1.0GFACX Growth FundPairCorr
  1.0GFAFX Growth FundPairCorr
  0.99FBAFX American Funds AmericanPairCorr
  1.0FSWFX American Funds SmallcapPairCorr
  1.0CGFEX Growth FundPairCorr
  1.0CGFFX Growth FundPairCorr
  1.0CGFCX Growth FundPairCorr
  1.0CGFAX Growth FundPairCorr
  0.99FBONX American Funds AmericanPairCorr
  0.99RRPPX American Funds RetirementPairCorr
  1.0FCJTX American Funds 2055PairCorr
  0.99RRQPX American Funds RetirementPairCorr
  0.98RROPX American Funds RetirementPairCorr
  0.99FUNFX American Funds FundaPairCorr
  0.99CIMCX Income FundPairCorr
  0.99CIREX Capital Income BuilderPairCorr
  0.99CIRFX Capital Income BuilderPairCorr
  0.99CIRCX Capital Income BuilderPairCorr
  0.99CIRAX Capital Income BuilderPairCorr
  0.99AAETX American Funds 2030PairCorr
  0.99ABALX American BalancedPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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