Smallcap World Correlations
SCWFX Fund | USD 71.22 0.28 0.39% |
The current 90-days correlation between Smallcap World and Allianzgi Convertible Income is 0.06 (i.e., Significant 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
Almost no diversification
The correlation between Smallcap World Fund and DJI is 0.94 (i.e., Almost no 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.
Smallcap |
Moving together with Smallcap Mutual Fund
0.9 | AMFCX | American Mutual | PairCorr |
0.91 | AMFFX | American Mutual | PairCorr |
0.98 | RNCCX | American Funds Income | PairCorr |
0.98 | FPTPX | American Funds Conse | PairCorr |
0.76 | TEPFX | American Funds Tax | PairCorr |
0.97 | GWPAX | American Funds Growth | PairCorr |
1.0 | GWPCX | American Funds Growth | PairCorr |
1.0 | GWPFX | American Funds Growth | PairCorr |
1.0 | CGQGX | American Funds Growth | PairCorr |
1.0 | CGRGX | American Funds Growth | PairCorr |
0.94 | RRPPX | American Funds Retirement | PairCorr |
1.0 | FCJTX | American Funds 2055 | PairCorr |
0.99 | RRQPX | American Funds Retirement | PairCorr |
0.97 | RROPX | American Funds Retirement | PairCorr |
1.0 | FCKTX | American Funds 2060 | PairCorr |
0.98 | RBDTX | American Funds 2025 | PairCorr |
1.0 | FGPGX | American Funds Growth | PairCorr |
0.98 | REJTX | American Funds 2015 | PairCorr |
0.97 | NFFFX | New World Fund | PairCorr |
0.97 | AFMFX | American Mutual | PairCorr |
0.98 | RIRBX | Capital Income Builder | PairCorr |
0.97 | RIVDX | American Funds Inter | PairCorr |
1.0 | CSPFX | Smallcap World | PairCorr |
1.0 | FPGGX | American Funds Growth | PairCorr |
0.88 | FSWFX | American Funds Smallcap | PairCorr |
0.88 | FSFWX | American Funds Smallcap | PairCorr |
0.89 | SCWCX | American Fds Smallcap | PairCorr |
0.89 | SMCWX | Smallcap World | PairCorr |
0.89 | CSPAX | Smallcap World | PairCorr |
0.88 | CSPEX | Smallcap World | PairCorr |
Related Correlations Analysis
0.93 | 0.92 | 0.79 | 0.97 | XNCVX | ||
0.93 | 0.97 | 0.9 | 0.97 | LCFYX | ||
0.92 | 0.97 | 0.95 | 0.97 | ARBOX | ||
0.79 | 0.9 | 0.95 | 0.89 | FSAWX | ||
0.97 | 0.97 | 0.97 | 0.89 | PCNTX | ||
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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.Mean Deviation | Jensen Alpha | Sortino Ratio | Treynor Ratio | Semi Deviation | Expected Shortfall | Potential Upside | Value @Risk | Maximum Drawdown | ||
---|---|---|---|---|---|---|---|---|---|---|
XNCVX | 0.70 | 0.06 | 0.00 | 9.57 | 1.05 | 1.32 | 5.32 | |||
LCFYX | 0.56 | 0.10 | 0.07 | 0.28 | 0.71 | 1.22 | 4.64 | |||
ARBOX | 0.07 | 0.01 | (0.41) | 0.81 | 0.00 | 0.18 | 0.35 | |||
FSAWX | 0.13 | 0.03 | (0.13) | (0.53) | 0.00 | 0.37 | 1.49 | |||
PCNTX | 0.64 | 0.09 | 0.03 | (3.26) | 0.94 | 1.11 | 6.25 |