Small-cap Value Correlations

Mutual Funds . USA . 
Fund . Small Cap Value Profund
SVPIX Fund  USD 103.48  0.75  0.72%   
The current 90-days correlation between Small Cap Value and T Rowe Price is 0.66 (i.e., Poor diversification). The correlation of Small-cap Value 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 Value Correlation With Market

Very poor diversification

The correlation between Small Cap Value Profund and DJI is 0.8 (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 Value 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 Value 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

  0.96TEPIX Technology UltrasectorPairCorr
  0.96TEPSX Technology UltrasectorPairCorr
  0.96LGPIX Large Cap GrowthPairCorr
  0.96LGPSX Profunds Large CapPairCorr
  0.96OTPIX Nasdaq 100 ProfundPairCorr
  0.95UJPIX Ultrajapan ProfundPairCorr
  0.96OTPSX Nasdaq 100 ProfundPairCorr
  0.95UJPSX Ultrajapan ProfundPairCorr
  1.0MLPSX Mid Cap ValuePairCorr
  1.0MLPIX Mid Cap ValuePairCorr
  0.84ENPSX Oil Gas UltrasectorPairCorr
  0.84ENPIX Oil Gas UltrasectorPairCorr
  0.89BTCFX Bitcoin Strategy ProfundPairCorr
  0.78PHPIX Pharmaceuticals UltrasectorPairCorr
  0.77PHPSX Pharmaceuticals UltrasectorPairCorr
  0.95INPIX Internet UltrasectorPairCorr
  0.95INPSX Internet UltrasectorPairCorr
  0.97ULPIX Ultrabull ProfundPairCorr
  0.97ULPSX Ultrabull ProfundPairCorr
  0.95WCPIX Mobile TelecommunicatioPairCorr
  0.95WCPSX Mobile TelecommunicatioPairCorr
  0.81OEPSX Oil Equipment ServicesPairCorr
  0.93CYPSX Consumer ServicesPairCorr
  0.93CYPIX Consumer ServicesPairCorr
  0.82OEPIX Oil Equipment ServicesPairCorr
  1.0SVPSX Small Cap ValuePairCorr
  0.99UMPSX Ultramid Cap ProfundPairCorr
  0.99UMPIX Ultramid Cap ProfundPairCorr

Moving against Small-cap Mutual Fund

  0.97UIPIX Ultrashort Mid CapPairCorr
  0.97UIPSX Ultrashort Mid CapPairCorr
  0.96BRPIX Bear Profund BearPairCorr
  0.96BRPSX Bear Profund BearPairCorr
  0.95UKPSX Ultrashort Japan ProfundPairCorr
  0.95UKPIX Ultrashort Japan ProfundPairCorr
  0.73SRPSX Short Real EstatePairCorr
  0.68SRPIX Short Real EstatePairCorr
  0.38GVPSX Us Government PlusPairCorr
  0.34GVPIX 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 Value 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 Value'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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