Mid Cap Correlations

Mutual Funds . USA . 
Fund . Mid Cap Strategic
VMSGX Fund  USD 22.65  0.12  0.53%   
The current 90-days correlation between Mid Cap Strategic and L Abbett Growth is 0.81 (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

Poor diversification

The correlation between Mid Cap Strategic and DJI is 0.73 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mid Cap Strategic 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 Strategic. 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 price.

Moving together with Mid Mutual Fund

  0.63VMIDX Mid Cap IndexPairCorr
  0.99VAPPX Valic Company IPairCorr
  0.99VSRDX Valic Company IPairCorr
  0.99VSTIX Stock Index FundPairCorr
  0.67VSSVX Small Cap SpecialPairCorr
  0.83VBCVX Broad Cap ValuePairCorr
  0.84VCAAX Asset AllocationPairCorr
  0.65VCBDX Valic Company IPairCorr
  0.7VCBCX Blue Chip GrowthPairCorr
  0.84VCGAX Growth IncomePairCorr
  0.63VCGEX Emerging EconomiesPairCorr
  0.96VCFVX Foreign ValuePairCorr
  0.8VCIEX International EquitiesPairCorr
  0.66VCIGX Valic Company IPairCorr
  0.96VCINX International GrowthPairCorr
  1.0VCNIX Nasdaq 100 IndexPairCorr
  0.7VCSTX Science TechnologyPairCorr
  0.65VCSLX Small Cap IndexPairCorr
  0.7VCULX Growth Fund GrowthPairCorr
  0.99VDAFX Dynamic AllocationPairCorr
  0.66VVMCX Valic Company IPairCorr
  0.83VVSGX Valic Company IPairCorr
  0.61VVSCX Valic Company IPairCorr
  0.65VGCLX Valic Company IPairCorr
  0.66VGLSX Global StrategyPairCorr
  0.67VGREX Global Real EstatePairCorr
  0.64VHYLX Valic Company IPairCorr
  0.63VIOPX Valic Company IPairCorr
  0.67VLAGX Valic Company IPairCorr
  0.99VLCGX Large Capital GrowthPairCorr
  0.99VLSMX Valic Company IPairCorr
  0.64PAMCX T Rowe PricePairCorr
  0.64RRMGX T Rowe PricePairCorr
  0.65TRQZX T Rowe PricePairCorr
  0.64RPMGX T Rowe PricePairCorr

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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