Conestoga Small Correlations

CCASX Fund

USD 79.03 0.78 1.00%

The current 90-days correlation between Conestoga Small Cap and Ab Global Bond is -0.01 (i.e., Good 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

Poor diversification

The correlation between Conestoga Small Cap and DJI is 0.63 (i.e., 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 various price indices.

Moving together with Conestoga Mutual Fund

0.87	VSGAX	Vanguard Small Cap	Pair Corr
0.87	VSGIX	Vanguard Small Cap	Pair Corr
0.86	VISGX	Vanguard Small Cap	Pair Corr
0.87	VEXPX	Vanguard Explorer	Pair Corr
0.87	VEXRX	Vanguard Explorer	Pair Corr
0.69	JGMIX	Janus Triton	Pair Corr
0.68	JGMRX	Janus Triton	Pair Corr
0.69	JGMAX	Janus Triton	Pair Corr
0.67	JGMCX	Janus Triton	Pair Corr
0.74	JGMNX	Janus Triton	Pair Corr
0.7	VTSAX	Vanguard Total Stock	Pair Corr
0.62	VFIAX	Vanguard 500 Index	Pair Corr
0.7	VTSMX	Vanguard Total Stock	Pair Corr
0.7	VSMPX	Vanguard Total Stock	Pair Corr
0.7	VSTSX	Vanguard Total Stock	Pair Corr
0.7	VITSX	Vanguard Total Stock	Pair Corr
0.62	VFINX	Vanguard 500 Index	Pair Corr
0.62	VFFSX	Vanguard 500 Index	Pair Corr
0.63	PG	Procter Gamble	Pair Corr
0.73	HD	Home Depot	Pair Corr
0.63	DD	Dupont De Nemours Earnings Call This Week	Pair Corr
0.65	CVX	Chevron Corp Earnings Call Today	Pair Corr
0.64	VZ	Verizon Communications	Pair Corr
0.65	CAT	Caterpillar Earnings Call This Week	Pair Corr
0.68	HPQ	HP Inc	Pair Corr
0.73	AA	Alcoa Corp	Pair Corr

Moving against Conestoga Mutual Fund

0.53	PFE	Pfizer Inc Earnings Call This Week	Pair Corr
0.44	BA	Boeing	Pair Corr

Related Correlations Analysis

	ANAGX	CNGLX	ANAZX	EQTYX	DHGCX	SMYIX	KGLCX	DBIWX
ANAGX		0.67	0.99	0.67	0.88	0.68	0.34	0.68	ANAGX
CNGLX	0.67		0.67	0.91	0.61	0.92	0.34	0.68	CNGLX
ANAZX	0.99	0.67		0.68	0.88	0.68	0.33	0.67	ANAZX
EQTYX	0.67	0.91	0.68		0.61	0.88	0.45	0.82	EQTYX
DHGCX	0.88	0.61	0.88	0.61		0.69	0.5	0.53	DHGCX
SMYIX	0.68	0.92	0.68	0.88	0.69		0.47	0.69	SMYIX
KGLCX	0.34	0.34	0.33	0.45	0.5	0.47		0.3	KGLCX
DBIWX	0.68	0.68	0.67	0.82	0.53	0.69	0.3		DBIWX
	ANAGX	CNGLX	ANAZX	EQTYX	DHGCX	SMYIX	KGLCX	DBIWX

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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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
ANAGX	0.17	0.00	(0.38)	(0.11)	0.15	(0.29)	0.44	(0.29)	1.16
CNGLX	0.55	(0.04)	(0.08)	0.01	0.98	(0.50)	1.17	(1.18)	5.09
ANAZX	0.17	(0.01)	(0.37)	(0.16)	0.17	(0.28)	0.44	(0.44)	1.31
EQTYX	0.46	(0.01)	(0.09)	0.06	0.60	(0.57)	1.20	(0.92)	4.10
DHGCX	0.15	0.00	(0.42)	0.17	0.10	(0.21)	0.36	(0.26)	0.94
SMYIX	0.68	0.01	(0.02)	0.11	1.08	(0.64)	1.48	(1.35)	4.86
KGLCX	1.33	0.22	0.11	0.65	1.39	(1.58)	3.27	(3.20)	8.75
DBIWX	0.25	(0.01)	(0.19)	0.04	0.35	(0.26)	0.59	(0.69)	1.86

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