Smallcap World Correlations

Mutual Funds . USA . 
Fund . Smallcap World Fund
SMCWX Fund  USD 72.54  0.19  0.26%   
The current 90-days correlation between Smallcap World and First Eagle Gold is 0.2 (i.e., Modest 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

Good diversification

The correlation between Smallcap World Fund and DJI is -0.06 (i.e., Good 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 housing.

Moving together with Smallcap Mutual Fund

  0.98AMECX Income FundPairCorr
  1.0RNEBX New World FundPairCorr
  0.97AMFCX American MutualPairCorr
  0.97AMFFX American MutualPairCorr
  0.97RNCCX American Funds IncomePairCorr
  0.66FPPPX American Funds PresePairCorr
  0.98AMEFX Income FundPairCorr
  0.99RNGGX New Economy FundPairCorr
  0.96RNGFX New Economy FundPairCorr
  0.99RNGHX New Economy FundPairCorr
  0.99RNGBX New Economy FundPairCorr
  0.96RNGAX New Economy FundPairCorr
  0.96RNGEX New Economy FundPairCorr
  0.99RNGCX New Economy FundPairCorr
  0.98FPTPX American Funds ConsePairCorr
  0.99RNNEX New Economy FundPairCorr
  1.0CDJAX American Funds CollegePairCorr
  0.96AMPCX Amcap Fund ClassPairCorr
  0.96AMPFX Amcap Fund ClassPairCorr
  0.97RNPBX New PerspectivePairCorr
  0.97RNPAX New PerspectivePairCorr
  1.0RNPHX New PerspectivePairCorr
  0.97RNPGX New PerspectivePairCorr
  0.97RNPFX New PerspectivePairCorr
  0.97RNPEX New PerspectivePairCorr
  0.97AMRMX American MutualPairCorr
  0.95AMRFX American MutualPairCorr
  0.97RNRPX American Funds RetirementPairCorr
  0.74TEPCX American Funds TaxPairCorr
  0.78TEPAX American Funds TaxPairCorr
  0.85TEPFX American Funds TaxPairCorr
  0.98RNWFX New World FundPairCorr
  0.98RNWEX New World FundPairCorr

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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