Conestoga Small Correlations

Mutual Funds . USA . 
Fund . Conestoga Small Cap
CCASX Fund  USD 83.36  0.46  0.55%   
The current 90-days correlation between Conestoga Small Cap and T Rowe Price is 0.94 (i.e., Almost no diversification). The correlation of Conestoga 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.

Conestoga Small Correlation With Market

Very poor diversification

The correlation between Conestoga 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 Conestoga 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 Conestoga 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 Conestoga Mutual Fund

  0.9CMCMX Conestoga Micro Cap Steady GrowthPairCorr
  0.9CMIRX Conestoga Micro Cap Steady GrowthPairCorr
  1.0CCALX Conestoga Small CapPairCorr
  0.83CCMMX Conestoga Mid CapPairCorr
  0.83CCMAX Columbia Large CapPairCorr
  0.99CCSMX Conestoga Smid CapPairCorr
  0.99CCSGX Conestoga Smid CapPairCorr
  0.98VSGAX Vanguard Small CapPairCorr
  0.98VSGIX Vanguard Small CapPairCorr
  0.98VISGX Vanguard Small CapPairCorr
  0.99VEXPX Vanguard ExplorerPairCorr
  0.99VEXRX Vanguard ExplorerPairCorr
  0.97JGMIX Janus TritonPairCorr
  0.97JGMRX Janus TritonPairCorr
  0.97JGMAX Janus TritonPairCorr
  0.97JGMCX Janus TritonPairCorr
  0.97JGMNX Janus TritonPairCorr
  0.91KMKCX Kinetics Market Oppo Steady GrowthPairCorr
  0.91KSCYX Kinetics Small Cap Steady GrowthPairCorr
  0.91WWNPX Kinetics Paradigm Steady GrowthPairCorr
  0.91KNPCX Kinetics Paradigm Steady GrowthPairCorr
  0.91KNPAX Kinetics Paradigm Steady GrowthPairCorr
  0.91KSOCX Kinetics Small Cap Steady GrowthPairCorr
  0.91KINCX Kinetics InternetPairCorr
  0.91KSCOX Kinetics Small Cap Steady GrowthPairCorr
  0.91LSHUX Horizon Spin Off Steady GrowthPairCorr
  0.83RFEBX American Funds FundaPairCorr
  0.98SSMOX Steward Small MidPairCorr
  0.7AMFFX American MutualPairCorr
  0.67FFALX Franklin Founding FundsPairCorr
  0.98LMBAX Qs Small CapitalizationPairCorr
  0.68BGRFX Baron GrowthPairCorr
  0.74AALTX American Funds 2050PairCorr
  0.68THOPX Thompson BondPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Conestoga Mutual Fund performing well and Conestoga 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 Conestoga 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.

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