Calvert Mid Correlations

Mutual Funds USA . 
Fund . Calvert Mid Cap
CMJAX Fund  USD 44.14  0.49  1.12%   
The current 90-days correlation between Calvert Mid Cap and Calvert Large Cap is 0.9 (i.e., Almost no diversification). The correlation of Calvert Mid 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.

Calvert Mid Correlation With Market

Almost no diversification

The correlation between Calvert Mid Cap and DJI is 0.91 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Calvert Mid 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 Calvert Mid 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 nation.

Moving together with Calvert Mutual Fund

  0.99CFJIX Calvert Large CapPairCorr
  0.99CFJAX Calvert Large CapPairCorr
  0.81CFOIX Calvert Floating RatePairCorr
  0.81CFOAX Calvert Floating RatePairCorr
  0.87CGARX Calvert Responsible IndexPairCorr
  0.97CGJAX Calvert Large CapPairCorr
  0.97CGJIX Calvert Large CapPairCorr
  0.62CGLIX Calvert Global EquityPairCorr
  0.61CGLAX Calvert Global EquityPairCorr
  0.68CYBAX Calvert High YieldPairCorr

Moving against Calvert Mutual Fund

  0.54CWVCX Calvert InternationalPairCorr
  0.53CWVIX Calvert InternationalPairCorr
  0.53CWVGX Calvert InternationalPairCorr
  0.37CEMCX Calvert Emerging MarketsPairCorr
  0.36CDHAX Calvert Developed MarketPairCorr
  0.35CDHIX Calvert Developed MarketPairCorr
  0.35CDHRX Calvert InternationalPairCorr
  0.35CEMAX Calvert Emerging MarketsPairCorr
  0.64CGAFX Calvert Green BondPairCorr
  0.64CGBIX Calvert Green BondPairCorr
  0.55CFICX Calvert IncomePairCorr

Related Correlations Analysis

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.
High positive correlations   
BSMAX
+ 0.98
CCVAX
CFJAX
+ 0.97
CSXAX
BSMAX
+ 0.96
CSXAX
CFJAX
+ 0.96
BSMAX
CFJAX
+ 0.94
CCVAX
CCVAX
+ 0.92
CSXAX
  
High negative correlations   
CCVAX
- 0.46
CDHAX
CFJAX
- 0.42
CDHAX
BSMAX
- 0.41
CDHAX
CDHAX
- 0.39
CSXAX

Risk-Adjusted Indicators

There is a big difference between Calvert Mutual Fund performing well and Calvert Mid 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 Calvert Mid'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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