Conestoga Smid Correlations

Mutual Funds USA . 
Fund . Conestoga Smid Cap
CCSGX Fund  USD 28.64  0.08  0.28%   
The current 90-days correlation between Conestoga Smid Cap and Conestoga Small Cap is 0.98 (i.e., Almost no diversification). The correlation of Conestoga Smid 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 Smid Correlation With Market

Very poor diversification

The correlation between Conestoga Smid Cap and DJI is 0.85 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Conestoga Smid 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 Smid 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 price.

Moving together with Conestoga Mutual Fund

  0.89CMCMX Conestoga Micro CapPairCorr
  0.89CMIRX Conestoga Micro CapPairCorr
  0.99CCASX Conestoga Small CapPairCorr
  0.99CCALX Conestoga Small CapPairCorr
  0.87CCMMX Conestoga Mid CapPairCorr
  0.87CCMAX Columbia Large CapPairCorr
  1.0CCSMX Conestoga Smid CapPairCorr
  0.97PAMCX T Rowe PricePairCorr
  0.97RRMGX T Rowe PricePairCorr
  0.92TRQZX T Rowe PricePairCorr
  0.97RPMGX T Rowe PricePairCorr
  0.95PRJIX T Rowe PricePairCorr
  0.98PRNHX T Rowe PricePairCorr
  0.95TRUZX T Rowe PricePairCorr
  0.98PCBIX Midcap Fund InstitutionalPairCorr
  0.94PEMGX Midcap Fund ClassPairCorr
  0.94PMBCX Midcap Fund ClassPairCorr
  0.95VSTSX Vanguard Total StockPairCorr
  0.95VSMPX Vanguard Total StockPairCorr
  0.95VITSX Vanguard Total StockPairCorr
  0.93VFFSX Vanguard 500 IndexPairCorr
  0.89VFIAX Vanguard 500 IndexPairCorr
  0.93VINIX Vanguard InstitutionalPairCorr
  0.95VTSAX Vanguard Total StockPairCorr
  0.77JRI Nuveen Real AssetPairCorr
  0.93RYRUX Russell 2000 2x Steady GrowthPairCorr
  0.95FBALX Fidelity BalancedPairCorr
  0.89SWPPX Schwab Sp 500PairCorr
  0.94VWENX Vanguard WellingtonPairCorr
  0.76LEZAX Blackrock Lifepath EsgPairCorr
  0.64RRTLX T Rowe PricePairCorr
  0.68LBHIX Thrivent High YieldPairCorr
  0.93VFINX Vanguard 500 IndexPairCorr
  0.8PCF Putnam High IncomePairCorr
  0.79VASGX Vanguard LifestrategyPairCorr

Moving against Conestoga Mutual Fund

  0.33VTISX Vanguard Total InterPairCorr
  0.33VTSNX Vanguard Total InterPairCorr
  0.33VTPSX Vanguard Total InterPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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