Mid Cap Correlations

Mutual Funds . USA . 
Fund . Mid Cap Growth
TOECX Fund  USD 40.38  0.12  0.30%   
The current 90-days correlation between Mid Cap Growth and Calamos Growth Fund is 0.89 (i.e., Very poor 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 good diversification

The correlation between Mid Cap Growth and DJI is -0.23 (i.e., Very good 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 main economic indicators.

Moving together with Mid Mutual Fund

  0.94TVOYX Touchstone Small CapPairCorr
  0.96TEGCX Touchstone Sands CapitalPairCorr
  1.0TEGAX Mid Cap GrowthPairCorr
  0.98TEGIX Mid Cap GrowthPairCorr
  0.98TEGYX Mid Cap GrowthPairCorr
  0.97SAGWX Sentinel Small PanyPairCorr
  0.97TEQCX Touchstone SustainabilityPairCorr
  0.97TEQAX Touchstone SustainabilityPairCorr
  0.97SSCOX Sentinel Small PanyPairCorr
  0.94TFCCX Touchstone Large CapPairCorr
  0.95SSRRX Sentinel SmallPairCorr
  0.98TFFCX Touchstone FocusedPairCorr
  0.98TFGRX Touchstone Mid CapPairCorr
  0.96TFFIX Touchstone FocusedPairCorr
  0.88SSSGX Sentinel Low DurationPairCorr
  0.96TFFYX Touchstone FocusedPairCorr
  0.96SBACX Sentinel BalancedPairCorr
  0.77FRACX Touchstone FlexiblePairCorr
  0.98TFOAX Touchstone FocusedPairCorr
  0.8TFSLX Touchstone FlexiblePairCorr
  0.99CFSIX Touchstone Sands CapitalPairCorr
  0.99TGVCX Growth OpportunitiesPairCorr
  0.99TGVFX Growth OpportunitiesPairCorr
  0.97TGVYX Growth OpportunitiesPairCorr
  0.97TGVVX Growth OpportunitiesPairCorr
  0.96SCRLX Sentinel Mon StockPairCorr
  0.98SCSCX Sentinel Mon StockPairCorr
  0.96THIYX High Yield FundPairCorr
  0.96THYCX High Yield FundPairCorr
  0.97THYAX High Yield FundPairCorr
  0.95THYYX High Yield FundPairCorr
  0.95TICSX Touchstone Small PanyPairCorr
  0.97SEBLX Sentinel BalancedPairCorr
  0.97TIQIX Touchstone SustainabilityPairCorr
  0.97SENCX 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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