Mid Cap Correlations

Mutual Funds . USA . 
Fund . Mid Cap Growth
TEGYX Fund  USD 44.94  0.24  0.54%   
The current 90-days correlation between Mid Cap Growth and Wasatch Small Cap is 0.09 (i.e., Significant diversification). The correlation of Mid Cap 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.

Mid Cap Correlation With Market

Poor diversification

The correlation between Mid Cap Growth and DJI is 0.74 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mid Cap Growth 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 Mid Cap Growth. 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 manufacturing.

Moving together with Mid Mutual Fund

  0.97TVOYX Touchstone Small CapPairCorr
  0.95TEGCX Touchstone Sands CapitalPairCorr
  0.98TEGAX Mid Cap GrowthPairCorr
  1.0TEGIX Mid Cap GrowthPairCorr
  0.96SAGWX Sentinel Small PanyPairCorr
  0.96TEQCX Touchstone SustainabilityPairCorr
  0.96TEQAX Touchstone SustainabilityPairCorr
  0.96SSCOX Sentinel Small PanyPairCorr
  0.92TFCCX Touchstone Large CapPairCorr
  0.96SSRRX Sentinel SmallPairCorr
  0.97TFFCX Touchstone FocusedPairCorr
  1.0TFGRX Touchstone Mid CapPairCorr
  0.97TFFIX Touchstone FocusedPairCorr
  0.89SSSGX Sentinel Low DurationPairCorr
  0.97TFFYX Touchstone FocusedPairCorr
  0.97SBACX Sentinel BalancedPairCorr
  0.78FRACX Touchstone FlexiblePairCorr
  0.97TFOAX Touchstone FocusedPairCorr
  0.82TFSLX Touchstone FlexiblePairCorr
  0.96CFSIX Touchstone Sands CapitalPairCorr
  0.97TGVCX Growth OpportunitiesPairCorr
  0.97TGVFX Growth OpportunitiesPairCorr
  0.99TGVYX Growth OpportunitiesPairCorr
  0.99TGVVX Growth OpportunitiesPairCorr
  0.97SCRLX Sentinel Mon StockPairCorr
  0.96SCSCX Sentinel Mon StockPairCorr
  0.97THIYX High Yield FundPairCorr
  0.97THYCX High Yield FundPairCorr
  0.96THYAX High Yield FundPairCorr
  0.96THYYX High Yield FundPairCorr
  0.97TICSX Touchstone Small PanyPairCorr
  0.95SEBLX Sentinel BalancedPairCorr
  0.97TIQIX Touchstone SustainabilityPairCorr
  0.95SENCX Sentinel Mon StockPairCorr
  0.94SWFCX Sentinel InternationalPairCorr
  0.94SWRLX Sentinel InternationalPairCorr
  0.99CISGX Touchstone Sands CapitalPairCorr
  0.94TLCIX Touchstone Large CapPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Mid Mutual Fund performing well and Mid Cap 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 Mid Cap'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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