Buffalo Small Correlations

BUFSX Fund

USD 15.69 0.04 0.26%

The current 90-days correlation between Buffalo Small Cap and Disciplined Growth Fund is 0.24 (i.e., Modest diversification). The correlation of Buffalo Small 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.

Buffalo Small Correlation With Market

Very poor diversification

The correlation between Buffalo Small Cap and DJI is 0.84 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Buffalo Small Cap 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 Buffalo Small Cap. 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 main economic indicators.

Moving together with Buffalo Mutual Fund

0.93	BUFOX	Buffalo Emerging Opp	Pair Corr
0.87	BUFIX	Buffalo International	Pair Corr
0.86	BUFHX	Buffalo High Yield	Pair Corr
0.74	BUFDX	Buffalo Dividend Focus	Pair Corr
1.0	BUISX	Buffalo Small Cap	Pair Corr
0.88	BUIOX	Buffalo Early Stage	Pair Corr
0.87	BUIIX	Buffalo International	Pair Corr
0.85	BUIHX	Buffalo High Yield	Pair Corr
0.69	BUIDX	Buffalo Dividend Focus	Pair Corr
0.64	BUIBX	Buffalo Flexible Income	Pair Corr
0.92	VSGAX	Vanguard Small Cap	Pair Corr
0.92	VSGIX	Vanguard Small Cap	Pair Corr
0.92	VEXPX	Vanguard Explorer	Pair Corr
0.77	JGMRX	Janus Triton	Pair Corr
0.79	SMPIX	Semiconductor Ultrasector	Pair Corr
0.78	SMPSX	Semiconductor Ultrasector Potential Growth	Pair Corr
0.85	PMPIX	Precious Metals Ultr Steady Growth	Pair Corr
0.85	PMPSX	Precious Metals Ultr Steady Growth	Pair Corr
0.84	FGADX	Franklin Gold Precious Steady Growth	Pair Corr
0.78	OCMGX	Ocm Mutual Fund Steady Growth	Pair Corr
0.84	OCMAX	Ocm Mutual Fund Steady Growth	Pair Corr
0.76	EKWCX	Wells Fargo Advantage Steady Growth	Pair Corr
0.81	INIIX	International Investors Steady Growth	Pair Corr
0.75	XCEEX	Central Europe	Pair Corr

Related Correlations Analysis

	SIVIX	SSQSX	OISGX	NMIAX	SPWYX	BMEZ	JPDVX	TGDVX	MSMLX	ADSIX
SIVIX		0.36	0.78	0.53	0.64	0.02	0.67	0.94	0.65	0.1	SIVIX
SSQSX	0.36		0.26	-0.11	0.1	0.32	-0.13	0.23	0.42	-0.17	SSQSX
OISGX	0.78	0.26		0.52	0.94	0.28	0.49	0.63	0.35	0.25	OISGX
NMIAX	0.53	-0.11	0.52		0.49	-0.11	0.82	0.5	0.22	0.58	NMIAX
SPWYX	0.64	0.1	0.94	0.49		0.33	0.46	0.49	0.23	0.31	SPWYX
BMEZ	0.02	0.32	0.28	-0.11	0.33		-0.12	-0.16	0.32	0.35	BMEZ
JPDVX	0.67	-0.13	0.49	0.82	0.46	-0.12		0.65	0.44	0.54	JPDVX
TGDVX	0.94	0.23	0.63	0.5	0.49	-0.16	0.65		0.64	-0.01	TGDVX
MSMLX	0.65	0.42	0.35	0.22	0.23	0.32	0.44	0.64		0.27	MSMLX
ADSIX	0.1	-0.17	0.25	0.58	0.31	0.35	0.54	-0.01	0.27		ADSIX
	SIVIX	SSQSX	OISGX	NMIAX	SPWYX	BMEZ	JPDVX	TGDVX	MSMLX	ADSIX

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

TGDVX	+ 0.94	SIVIX
SPWYX	+ 0.94	OISGX
JPDVX	+ 0.82	NMIAX
OISGX	+ 0.78	SIVIX
JPDVX	+ 0.67	SIVIX
MSMLX	+ 0.65	SIVIX

High negative correlations

ADSIX	- 0.17	SSQSX
TGDVX	- 0.16	BMEZ
JPDVX	- 0.13	SSQSX
JPDVX	- 0.12	BMEZ
BMEZ	- 0.11	NMIAX
NMIAX	- 0.11	SSQSX

Risk-Adjusted Indicators

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

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
SIVIX	0.71	(0.01)	(0.01)	0.10	0.70	(0.80)	1.96	(1.21)	4.92
SSQSX	0.79	0.00	0.01	0.11	0.90	(0.92)	2.20	(1.51)	6.87
OISGX	0.84	(0.07)	(0.06)	0.04	0.94	(1.04)	1.57	(1.75)	5.77
NMIAX	0.74	0.08	0.09	0.20	0.56	(0.96)	1.03	(1.20)	13.61
SPWYX	0.93	(0.09)	(0.05)	0.04	1.10	(1.01)	1.61	(1.68)	6.49
BMEZ	0.73	0.07	(0.05)	2.30	0.67	(0.88)	2.04	(1.26)	4.90
JPDVX	0.58	0.20	0.26	0.68	0.00	(0.80)	0.66	(0.65)	14.15
TGDVX	0.58	0.00	(0.04)	0.11	0.59	(0.67)	1.19	(0.99)	3.89
MSMLX	0.72	0.23	0.11	(0.67)	0.54	(0.82)	1.59	(1.02)	3.54
ADSIX	1.00	0.25	0.08	(0.47)	0.95	(1.08)	1.41	(2.08)	18.64

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