Century Small Correlations

CSMVX Fund

USD 43.83 1.12 2.62%

The current 90-days correlation between Century Small Cap and Tcm Small Cap is 0.81 (i.e., Very poor diversification). The correlation of Century 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.

Century Small Correlation With Market

Very poor diversification

The correlation between Century Small Cap and DJI is 0.8 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Century 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 Century 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 services.

Moving together with Century Mutual Fund

0.89	CSMCX	Century Small Cap	Pair Corr
0.72	VSGAX	Vanguard Small Cap	Pair Corr
0.72	VSGIX	Vanguard Small Cap	Pair Corr
0.73	VISGX	Vanguard Small Cap	Pair Corr

Moving against Century Mutual Fund

0.45	RCGHX	Allianzgi Health Sciences	Pair Corr
0.43	SPMPX	Invesco Steelpath Mlp	Pair Corr
0.43	MLPMX	Oppenheimer Steelpath Mlp	Pair Corr
0.43	SPMJX	Invesco Steelpath Mlp	Pair Corr
0.41	MLPNX	Oppenheimer Steelpath Mlp	Pair Corr
0.48	HLHIX	Allianzgi Health Sciences	Pair Corr
0.42	PSDTX	Putnam Short Duration	Pair Corr

Related Correlations Analysis

	TCMSX	RYPNX	NSGAX	GLPIX	NWKCX	FEVIX	CIPSX	RYPRX	PRCOX
TCMSX		0.77	0.76	0.59	0.75	0.79	0.35	0.93	0.79	TCMSX
RYPNX	0.77		0.51	0.23	0.69	0.56	0.64	0.64	0.74	RYPNX
NSGAX	0.76	0.51		0.74	0.62	0.65	0.15	0.66	0.85	NSGAX
GLPIX	0.59	0.23	0.74		0.34	0.67	-0.16	0.54	0.65	GLPIX
NWKCX	0.75	0.69	0.62	0.34		0.56	0.72	0.71	0.64	NWKCX
FEVIX	0.79	0.56	0.65	0.67	0.56		0.17	0.72	0.72	FEVIX
CIPSX	0.35	0.64	0.15	-0.16	0.72	0.17		0.32	0.27	CIPSX
RYPRX	0.93	0.64	0.66	0.54	0.71	0.72	0.32		0.58	RYPRX
PRCOX	0.79	0.74	0.85	0.65	0.64	0.72	0.27	0.58		PRCOX
	TCMSX	RYPNX	NSGAX	GLPIX	NWKCX	FEVIX	CIPSX	RYPRX	PRCOX

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

RYPRX	+ 0.93	TCMSX
PRCOX	+ 0.85	NSGAX
FEVIX	+ 0.79	TCMSX
PRCOX	+ 0.79	TCMSX
RYPNX	+ 0.77	TCMSX
NSGAX	+ 0.76	TCMSX

High negative correlations

CIPSX

- 0.16

GLPIX

Risk-Adjusted Indicators

There is a big difference between Century Mutual Fund performing well and Century 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 Century 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
TCMSX	1.15	0.10	0.09	0.14	1.22	(1.32)	2.37	(1.96)	6.69
RYPNX	1.12	(0.05)	0.00	0.04	1.45	(1.14)	2.43	(2.59)	5.60
NSGAX	0.57	0.05	(0.02)	0.46	0.78	(0.57)	1.20	(1.23)	3.46
GLPIX	0.48	0.03	(0.06)	2.70	0.60	(0.52)	1.06	(1.29)	3.01
NWKCX	0.77	0.01	(0.05)	0.12	0.84	(0.88)	1.68	(1.49)	4.57
FEVIX	0.77	0.04	0.02	0.11	1.57	(0.78)	1.30	(1.01)	18.28
CIPSX	0.81	(0.05)	0.00	(0.16)	0.00	0.00	1.69	(2.10)	4.29
RYPRX	1.05	0.14	0.18	0.16	0.73	(1.30)	2.03	(1.55)	15.69
PRCOX	0.61	(0.01)	(0.02)	0.06	0.87	(0.59)	1.47	(1.20)	3.37

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