Conestoga Small Correlations

Mutual Funds . USA . 
Fund . Conestoga Small Cap
CCASX Fund  USD 67.57  0.59  0.88%   
The current 90-days correlation between Conestoga Small Cap and Conestoga Smid Cap 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 0.88 (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 producer price index.

Moving together with Conestoga Mutual Fund

  0.96CMCMX Conestoga Micro CapPairCorr
  0.96CMIRX Conestoga Micro CapPairCorr
  1.0CCALX Conestoga Small CapPairCorr
  0.95CCSMX Conestoga Smid Cap Potential GrowthPairCorr
  0.95CCSGX Conestoga Smid Cap Potential GrowthPairCorr
  0.93VSGAX Vanguard Small CapPairCorr
  0.93VSGIX Vanguard Small CapPairCorr
  0.93VISGX Vanguard Small CapPairCorr
  0.93VEXPX Vanguard ExplorerPairCorr
  0.93VEXRX Vanguard ExplorerPairCorr
  0.93JGMIX Janus TritonPairCorr
  0.93JGMRX Janus TritonPairCorr
  0.9JGMAX Janus TritonPairCorr
  0.92JGMCX Janus TritonPairCorr
  0.93JGMNX Janus TritonPairCorr
  0.82FTYPX Fidelity Freedom IndexPairCorr
  0.82FFBTX Fidelity Freedom BlendPairCorr
  0.73GAAVX Gmo Alternative AlloPairCorr
  0.87GCAVX Gmo Small CapPairCorr
  0.88GQLOX Gmo Quality FundPairCorr
  0.89GHVIX Gmo High YieldPairCorr
  0.91GMCQX Gmo Equity AllocationPairCorr
  0.76DALVX Dunham Large CapPairCorr
  0.89OSCAX Oppenheimer Main StreetPairCorr
  0.84DRIJX Dimensional 2050 TargetPairCorr
  0.61NVHIX Nuveen Short DurationPairCorr
  0.69ANDIX Aqr InternationalPairCorr
  0.9SHTCX Columbia Seligman GlobalPairCorr
  0.8OPMCX Oppenheimer Main StreetPairCorr
  0.92SSMLX State Street SmallmidPairCorr
  0.68TNUIX 1290 Unconstrained BondPairCorr
  0.82DGIIX Dgi Balanced IPairCorr
  0.87HSPCX Emerald GrowthPairCorr
  0.77FCISX Franklin IncomePairCorr
  0.86HIIIX Catalystsmh High IncomePairCorr
  0.86EIVPX Parametric VolatilityPairCorr

Moving against Conestoga Mutual Fund

  0.48GABFX Gmo Asset AllocationPairCorr

Related Correlations Analysis


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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