Cambiar Small Correlations

CAMSX Fund

USD 18.13 0.05 0.28%

The current 90-days correlation between Cambiar Small Cap and Jpmorgan Dynamic Small is 0.96 (i.e., Almost no diversification). The correlation of Cambiar 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.

Cambiar Small Correlation With Market

Very poor diversification

The correlation between Cambiar Small Cap and DJI is 0.86 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Cambiar 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 Cambiar 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 state.

Moving together with Cambiar Mutual Fund

1.0	CAMZX	Cambiar Small Cap	Pair Corr
0.9	CAMWX	Cambiar Opportunity	Pair Corr
0.83	CAMUX	Cambiar Smid	Pair Corr
0.9	CAMOX	Cambiar Opportunity	Pair Corr
0.92	VSMAX	Vanguard Small Cap	Pair Corr
0.96	VSCIX	Vanguard Small Cap	Pair Corr
0.92	VSCPX	Vanguard Small Cap	Pair Corr
0.96	NAESX	Vanguard Small Cap	Pair Corr
0.98	FSSNX	Fidelity Small Cap	Pair Corr
0.97	DFSTX	Us Small Cap	Pair Corr
0.98	PASVX	T Rowe Price	Pair Corr
0.98	PRVIX	T Rowe Price	Pair Corr
0.98	TRZVX	T Rowe Price	Pair Corr
0.98	PRSVX	T Rowe Price	Pair Corr
0.83	DXQLX	Direxion Monthly Nasdaq	Pair Corr
0.83	RYVLX	Nasdaq 100 2x	Pair Corr
0.79	RYVYX	Nasdaq 100 2x	Pair Corr
0.82	UOPIX	Ultra Nasdaq 100	Pair Corr
0.82	RYCCX	Nasdaq 100 2x	Pair Corr
0.82	UOPSX	Ultranasdaq 100 Profund	Pair Corr
0.91	INPIX	Internet Ultrasector	Pair Corr
0.91	INPSX	Internet Ultrasector	Pair Corr
0.8	LGPIX	Large Cap Growth	Pair Corr
0.74	ENPSX	Oil Gas Ultrasector Potential Growth	Pair Corr
0.95	VFMFX	Vanguard Multifactor	Pair Corr
0.83	VFINX	Vanguard 500 Index	Pair Corr
0.9	NML	Neuberger Berman Mlp	Pair Corr
0.89	PRWAX	T Rowe Price	Pair Corr
0.94	VSEQX	Vanguard Strategic Equity	Pair Corr
0.83	TWQZX	Transamerica Large Cap	Pair Corr
0.86	USA	Liberty All Star	Pair Corr
0.96	RTSAX	Tax Managed Mid	Pair Corr

Moving against Cambiar Mutual Fund

0.74	CAMYX	Cambiar International	Pair Corr
0.74	CAMIX	Cambiar International	Pair Corr
0.4	TGLDX	Tocqueville Gold	Pair Corr

Related Correlations Analysis

	JDSCX	CAMWX	HIEMX	CAMIX	CAMOX
JDSCX		0.9	-0.3	-0.63	0.9	JDSCX
CAMWX	0.9		-0.08	-0.54	1.0	CAMWX
HIEMX	-0.3	-0.08		0.76	-0.07	HIEMX
CAMIX	-0.63	-0.54	0.76		-0.54	CAMIX
CAMOX	0.9	1.0	-0.07	-0.54		CAMOX
	JDSCX	CAMWX	HIEMX	CAMIX	CAMOX

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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

CAMOX	+ 1.0	CAMWX
CAMWX	+ 0.9	JDSCX
CAMOX	+ 0.9	JDSCX
CAMIX	+ 0.76	HIEMX

High negative correlations

CAMIX	- 0.63	JDSCX
CAMOX	- 0.54	CAMIX
CAMIX	- 0.54	CAMWX
HIEMX	- 0.3	JDSCX
HIEMX	- 0.08	CAMWX
CAMOX	- 0.07	HIEMX

Risk-Adjusted Indicators

There is a big difference between Cambiar Mutual Fund performing well and Cambiar 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 Cambiar 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
JDSCX	0.80	(0.05)	0.00	0.09	0.86	(0.86)	1.81	(1.50)	6.90
CAMWX	0.56	(0.03)	(0.08)	0.08	0.57	(0.64)	1.03	(1.02)	3.49
HIEMX	0.66	(0.08)	0.00	(0.07)	0.00	0.00	1.44	(1.59)	3.97
CAMIX	0.64	(0.15)	0.00	(0.26)	0.00	0.00	1.10	(1.61)	3.81
CAMOX	0.56	(0.03)	(0.08)	0.08	0.57	(0.63)	1.02	(1.02)	3.48

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