Extended Market Correlations

Mutual Funds . USA . 
Fund . Extended Market Index
USMIX Fund  USD 21.26  0.22  1.05%   
The current 90-days correlation between Extended Market Index and Chase Growth Fund is 0.75 (i.e., Poor diversification). The correlation of Extended Market 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.

Extended Market Correlation With Market

Good diversification

The correlation between Extended Market Index and DJI is -0.18 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Extended Market Index 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 Extended Market Index. 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 Extended Mutual Fund

  0.71UINCX Income Fund IncomePairCorr
  0.97UINQX Usaa Nasdaq 100PairCorr
  0.99SRVEX Victory Diversified StockPairCorr
  0.68UITBX Intermediate Term BondPairCorr
  0.67UITCX Usaa Intermediate TermPairCorr
  0.61UITIX Usaa Tax ExemptPairCorr
  0.99SSGSX Victory Sycamore SmallPairCorr
  0.91SBFCX Victory Incore InvestmentPairCorr
  0.9SBFMX Victory PortfoliosPairCorr
  0.96MMECX Victory IntegrityPairCorr
  0.99MMEAX Victory IntegrityPairCorr
  0.92RPPRX Victory Rs PartnersPairCorr
  1.0MMIJX Victory Integrity MidPairCorr
  0.96MMMMX Victory IntegrityPairCorr
  0.96MMMSX Victory IntegrityPairCorr
  0.99MNNAX Victory Munder MultiPairCorr
  0.85RSDYX Victory Incore LowPairCorr
  0.69RSENX Victory Sophus EmergingPairCorr
  0.99RSEGX Victory Rs SmallPairCorr
  0.98RSDGX Victory Rs SelectPairCorr
  0.91RSFYX Victory Floating RatePairCorr
  0.98RSGGX Victory Rs GlobalPairCorr
  0.98RSGFX Victory Rs SelectPairCorr
  0.98RSGRX Victory Rs GrowthPairCorr
  0.91RSFCX Victory Floating RatePairCorr
  0.91RSFMX Victory Floating RatePairCorr
  0.92RSFLX Victory Floating RatePairCorr
  0.97RSIFX Victory Rs SciencePairCorr
  0.97RSINX Victory Rs InvestorsPairCorr
  0.89RSIGX Victory Rs InternationalPairCorr
  0.92RSIYX Victory Rs InvestorsPairCorr
  0.97RSMOX Victory Rs MidPairCorr
  0.97RSPFX Victory Rs PartnersPairCorr
  0.96RSNRX Victory Global NaturalPairCorr
  0.95RSNYX Victory Global NaturalPairCorr
  0.92RSPMX Victory Rs PartnersPairCorr
  0.92RSPYX Victory Rs PartnersPairCorr

Moving against Extended Mutual Fund

  0.37GUTEX Victory Tax ExemptPairCorr
  0.38RSTYX Victory Tax ExemptPairCorr
  0.38UNYIX New York BondPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Extended Mutual Fund performing well and Extended Market 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 Extended Market'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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