Small-cap Growth Correlations

Mutual Funds . USA . 
Fund . Small Cap Growth Profund
SGPIX Fund  USD 109.39  0.95  0.86%   
The current 90-days correlation between Small Cap Growth and Small Cap Value Profund is 0.95 (i.e., Almost no diversification). The correlation of Small-cap Growth 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 Growth Correlation With Market

Very poor diversification

The correlation between Small Cap Growth Profund 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 Growth Profund 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 Growth Profund. 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 Small-cap Mutual Fund

  0.97TEPIX Technology UltrasectorPairCorr
  0.97TEPSX Technology UltrasectorPairCorr
  0.96LGPIX Large Cap GrowthPairCorr
  0.96LGPSX Profunds Large CapPairCorr
  0.98OTPIX Nasdaq 100 ProfundPairCorr
  0.95UJPIX Ultrajapan ProfundPairCorr
  0.98OTPSX Nasdaq 100 ProfundPairCorr
  0.95UJPSX Ultrajapan ProfundPairCorr
  0.99MLPSX Mid Cap ValuePairCorr
  0.99MLPIX Mid Cap ValuePairCorr
  0.78ENPSX Oil Gas UltrasectorPairCorr
  0.79ENPIX Oil Gas UltrasectorPairCorr
  0.9BTCFX Bitcoin Strategy ProfundPairCorr
  0.78PHPIX Pharmaceuticals UltrasectorPairCorr
  0.77PHPSX Pharmaceuticals UltrasectorPairCorr
  0.98INPIX Internet UltrasectorPairCorr
  0.96INPSX Internet UltrasectorPairCorr
  0.96ULPIX Ultrabull ProfundPairCorr
  0.98ULPSX Ultrabull ProfundPairCorr
  0.95WCPIX Mobile TelecommunicatioPairCorr
  0.97WCPSX Mobile TelecommunicatioPairCorr
  0.79OEPSX Oil Equipment ServicesPairCorr
  0.96CYPSX Consumer ServicesPairCorr
  0.93CYPIX Consumer ServicesPairCorr
  0.78OEPIX Oil Equipment ServicesPairCorr
  0.99SVPIX Small Cap ValuePairCorr
  0.99SVPSX Small Cap ValuePairCorr
  1.0UMPSX Ultramid Cap ProfundPairCorr
  1.0UMPIX Ultramid Cap ProfundPairCorr

Moving against Small-cap Mutual Fund

  0.99UIPIX Ultrashort Mid CapPairCorr
  0.97UIPSX Ultrashort Mid CapPairCorr
  0.96BRPIX Bear Profund BearPairCorr
  0.96BRPSX Bear Profund BearPairCorr
  0.96UKPSX Ultrashort Japan ProfundPairCorr
  0.95UKPIX Ultrashort Japan ProfundPairCorr
  0.76SRPSX Short Real EstatePairCorr
  0.72SRPIX Short Real EstatePairCorr
  0.44GVPSX Us Government PlusPairCorr
  0.41GVPIX Us Government PlusPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Small-cap Mutual Fund performing well and Small-cap Growth 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 Growth'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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