Conestoga Smid Correlations

Mutual Funds . USA . 
Fund . Conestoga Smid Cap
CCSMX Fund  USD 24.24  0.12  0.49%   
The current 90-days correlation between Conestoga Smid Cap and Conestoga Small Cap is 0.94 (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

ConestogaDowDiversified AwayConestogaDowDiversified Away100%

Poor diversification

The correlation between Conestoga Smid Cap and DJI is 0.69 (i.e., 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 population.

Moving together with Conestoga Mutual Fund

  0.89CMCMX Conestoga Micro CapPairCorr
  0.89CMIRX Conestoga Micro CapPairCorr
  0.96CCASX Conestoga Small CapPairCorr
  0.96CCALX Conestoga Small CapPairCorr
  1.0CCSGX Conestoga Smid CapPairCorr
  0.97PAMCX T Rowe PricePairCorr
  0.97RRMGX T Rowe PricePairCorr
  0.97TRQZX T Rowe PricePairCorr
  0.97RPMGX T Rowe PricePairCorr
  0.96PRJIX T Rowe PricePairCorr
  0.96PRNHX T Rowe PricePairCorr
  0.96TRUZX T Rowe PricePairCorr
  0.79PCBIX Midcap Fund InstitutionalPairCorr
  0.79PEMGX Midcap Fund ClassPairCorr
  0.8PMBCX Midcap Fund ClassPairCorr
  0.72SMPIX Semiconductor UltrasectorPairCorr
  0.7SMPSX Semiconductor UltrasectorPairCorr
  0.78CISGX Touchstone Sands CapitalPairCorr

Moving against Conestoga Mutual Fund

  0.69FIVOX Fidelity InternationalPairCorr
  0.67RGEVX Us Government SecuritiesPairCorr
  0.63ABTAX Government BondPairCorr
  0.59DIPSX Dfa Inflation ProtectedPairCorr
  0.58TREMX T Rowe PricePairCorr
  0.58PYCWX Payden E BondPairCorr
  0.52VZICX Vanguard InternationalPairCorr
  0.52MRJIX Real Assets PortfolioPairCorr
  0.45HSXCX Hartford SchrodersPairCorr
  0.33BTEIX Brown Advisory TaxPairCorr
  0.7EKIZX Wells Fargo AdjustablePairCorr
  0.68AMUSX Us Government SecuritiesPairCorr

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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