Mid Cap Correlations

Mutual Funds . USA . 
Fund . Mid Cap Value
AMDVX Fund  USD 15.43  0.10  0.65%   
The current 90-days correlation between Mid Cap Value and Select Fund A is -0.06 (i.e., Good 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

Almost no diversification

The correlation between Mid Cap Value and DJI is 0.91 (i.e., Almost no 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 manufacturing.

Moving together with Mid Mutual Fund

  0.81AMEIX Equity GrowthPairCorr
  0.88AMGIX Income GrowthPairCorr
  0.78AMKIX Emerging MarketsPairCorr
  0.83TWACX Short Term GovernmentPairCorr
  0.86TWADX Value Fund APairCorr
  0.74TWCCX Ultra Fund CPairCorr
  0.74TWCAX Select Fund APairCorr
  0.75TWCIX Select Fund InvestorPairCorr
  0.74TWCGX Growth Fund InvestorPairCorr
  0.79TWARX Short Term GovernmentPairCorr
  0.82TWAVX Short Term GovernmentPairCorr
  0.85AMVYX Mid Cap ValuePairCorr
  0.85AMVRX Mid Cap ValuePairCorr
  0.69TWBIX Balanced Fund InvestorPairCorr
  0.85AMVGX Mid Cap ValuePairCorr
  0.85TWEAX Equity IncomePairCorr
  0.87TWEIX Equity IncomePairCorr
  0.82TWGAX International GrowthPairCorr
  0.74TWGIX Growth Fund IPairCorr
  0.81TWGGX Global GrowthPairCorr
  0.83TWIEX International GrowthPairCorr
  0.78TWHIX Heritage Fund InvestorPairCorr
  0.78TWMIX Emerging MarketsPairCorr
  0.74TWRCX Growth Fund CPairCorr
  0.8TWTCX Intermediate Term TaxPairCorr
  0.84TWTIX Intermediate Term TaxPairCorr
  0.87TWSCX Strategic Allocation:PairCorr
  0.86TWSAX Strategic Allocation:PairCorr
  0.85TWSMX Strategic Allocation:PairCorr
  0.75TWSIX Select Fund IPairCorr
  0.79TWUSX Short Term GovernmentPairCorr
  0.88TWVLX Value Fund InvestorPairCorr
  0.72TWUAX Ultra Fund APairCorr
  0.73TWUIX Ultra Fund IPairCorr
  0.82TWUOX Short Term GovernmentPairCorr
  0.84TWWOX Intermediate Term TaxPairCorr
  0.92NPHIX High Income FundPairCorr

Related Correlations Analysis


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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