Mid Cap Correlations

Mutual Funds . USA . 
Fund . Mid Cap Growth
TEGYX Fund  USD 35.49  0.43  1.23%   
The current 90-days correlation between Mid Cap Growth and Wasatch Small Cap is 0.93 (i.e., Almost no 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

Very poor diversification

The correlation between Mid Cap Growth and DJI is 0.86 (i.e., Very 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

  0.95TVOYX Touchstone Small CapPairCorr
  1.0TEGAX Mid Cap GrowthPairCorr
  1.0TEGIX Mid Cap GrowthPairCorr
  0.98SAGWX Sentinel Small PanyPairCorr
  0.98SSCOX Sentinel Small PanyPairCorr
  0.72TFCCX Touchstone Large CapPairCorr
  0.98SSRRX Sentinel SmallPairCorr
  0.95TFFCX Touchstone FocusedPairCorr
  1.0TFGRX Touchstone Mid CapPairCorr
  0.95TFFIX Touchstone FocusedPairCorr
  0.95TFFYX Touchstone FocusedPairCorr
  0.91SBACX Sentinel BalancedPairCorr
  0.95TFOAX Touchstone FocusedPairCorr
  0.99CFSIX Touchstone Sands CapitalPairCorr
  0.98TGVCX Growth OpportunitiesPairCorr
  0.98TGVFX Growth OpportunitiesPairCorr
  0.98TGVYX Growth OpportunitiesPairCorr
  0.98TGVVX Growth OpportunitiesPairCorr
  0.95SCRLX Sentinel Mon StockPairCorr
  0.95SCSCX Sentinel Mon StockPairCorr
  0.67THYCX High Yield FundPairCorr
  0.62THYAX High Yield FundPairCorr
  0.98TICSX Touchstone Small PanyPairCorr
  0.91SEBLX Sentinel BalancedPairCorr
  0.95SENCX Sentinel Mon StockPairCorr
  0.94CISGX Touchstone Sands CapitalPairCorr
  0.7TLCIX Touchstone Large CapPairCorr

Moving against Mid Mutual Fund

  0.68SSSGX Sentinel Low DurationPairCorr
  0.45TFSLX Touchstone FlexiblePairCorr
  0.4FRACX Touchstone FlexiblePairCorr
  0.71TIMPX Touchstone FundsPairCorr
  0.42FFSAX Touchstone FlexiblePairCorr
  0.38SWRLX Sentinel InternationalPairCorr
  0.37SWFCX Sentinel InternationalPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.
High positive correlations   
MCVIX
+ 0.97
JVLIX
MCVIX
+ 0.9
WIAEX
JVLIX
+ 0.89
WIAEX
FBKWX
+ 0.49
MISIX
JVLIX
+ 0.35
MISIX
MCVIX
+ 0.26
MISIX
  
High negative correlations   
FBKWX
- 0.7
WIAEX
FBKWX
- 0.48
MCVIX
FBKWX
- 0.4
JVLIX
MISIX
- 0.07
WIAEX

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.

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions
 
Feedback Blog
Made with optimal in San Francisco
2024 Macroaxis LLC
COMMON DESTINATIONS
MAIN CATEGORIES
COMPANY