Mid Cap Correlations

Mutual Funds . USA . 
Fund . Mid Cap Value
ACMVX Fund  USD 17.63  0.13  0.74%   
The current 90-days correlation between Mid Cap Value and Heritage Fund Investor is 0.66 (i.e., 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 poor diversification

The correlation between Mid Cap Value and DJI is 0.83 (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 Value and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Mid Cap Value. 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 real.

Moving together with Mid Mutual Fund

  1.0AMDVX Mid Cap ValuePairCorr
  0.82AMEIX Equity GrowthPairCorr
  0.89AMGIX Income GrowthPairCorr
  0.93TWADX Value Fund APairCorr
  0.77TWCCX Ultra Fund CPairCorr
  0.76TWCAX Select Fund APairCorr
  0.76TWCIX Select Fund InvestorPairCorr
  0.77TWCGX Growth Fund InvestorPairCorr
  1.0AMVYX Mid Cap ValuePairCorr
  1.0AMVRX Mid Cap ValuePairCorr
  0.75TWBIX Balanced Fund InvestorPairCorr
  1.0AMVGX Mid Cap ValuePairCorr
  0.9TWEAX Equity IncomePairCorr
  0.9TWEIX Equity IncomePairCorr
  0.77TWCUX Ultra Fund InvestorPairCorr
  0.77TWGIX Growth Fund IPairCorr
  0.85TWHIX Heritage Fund InvestorPairCorr
  0.77TWRCX Growth Fund CPairCorr
  0.79TWSCX Strategic AllocationPairCorr
  0.86TWSAX Strategic AllocationPairCorr
  0.85TWSMX Strategic AllocationPairCorr
  0.76TWSIX Select Fund IPairCorr
  0.94TWVLX Value Fund InvestorPairCorr
  0.77TWUAX Ultra Fund APairCorr
  0.77TWUIX Ultra Fund IPairCorr
  0.63NPHIX High Income FundPairCorr

Moving against Mid Mutual Fund

  0.51CDBCX Diversified BondPairCorr
  0.42TWGAX International GrowthPairCorr
  0.42TWIEX International GrowthPairCorr
  0.4TWACX Short Term GovernmentPairCorr
  0.37TWARX Short Term GovernmentPairCorr
  0.35TWAVX Short Term GovernmentPairCorr
  0.57ANVRX American Century NonPairCorr
  0.57ANVLX American Century NonPairCorr
  0.56ANTUX Nt Non IntrinsicPairCorr

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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