Small Cap Correlations

Mutual Funds . USA . 
Fund . Small Cap Value
ASVYX Fund  USD 11.03  0.10  0.91%   
The current 90-days correlation between Small Cap Value and Ab Bond Inflation is 0.3 (i.e., Weak diversification). The correlation of Small 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.

Small Cap Correlation With Market

Average diversification

The correlation between Small Cap Value and DJI is 0.1 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Small 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 Small 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 Small Mutual Fund

  0.94AMDVX Mid Cap ValuePairCorr
  0.88AMGIX Income GrowthPairCorr
  0.8CDBCX Diversified BondPairCorr
  0.88TWADX Value Fund APairCorr
  0.79TWCCX Ultra Fund CPairCorr
  0.69TWCAX Select Fund APairCorr
  0.68TWCIX Select Fund InvestorPairCorr
  0.78TWCGX Growth Fund InvestorPairCorr
  0.94AMVYX Mid Cap ValuePairCorr
  0.9AMVRX Mid Cap ValuePairCorr
  0.62TWBIX Balanced Fund InvestorPairCorr
  0.9AMVGX Mid Cap ValuePairCorr
  0.85TWEAX Equity IncomePairCorr
  0.85TWEIX Equity IncomePairCorr
  0.64TWCUX Ultra Fund InvestorPairCorr
  0.77TWGIX Growth Fund IPairCorr
  0.84TWGGX Global GrowthPairCorr
  0.95TWHIX Heritage Fund InvestorPairCorr
  0.85TWRCX Growth Fund CPairCorr
  0.78TWTCX Intermediate Term TaxPairCorr
  0.72TWTIX Intermediate Term TaxPairCorr
  0.92TWSCX Strategic Allocation:PairCorr
  0.95TWSAX Strategic Allocation:PairCorr
  0.95TWSMX Strategic Allocation:PairCorr
  0.66TWSIX Select Fund IPairCorr
  0.88TWVLX Value Fund InvestorPairCorr
  0.67TWUAX Ultra Fund APairCorr
  0.73TWWOX Intermediate Term TaxPairCorr

Moving against Small Mutual Fund

  0.31TWUOX Short Term GovernmentPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Small Mutual Fund performing well and Small 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 Small 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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