Smallcap World Correlations

Mutual Funds . USA . 
Fund . Smallcap World Fund
CSPCX Fund  USD 62.22  0.99  1.57%   
The current 90-days correlation between Smallcap World and Franklin Natural Resources is 0.51 (i.e., Very weak diversification). The correlation of Smallcap World 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.

Smallcap World Correlation With Market

Almost no diversification

The correlation between Smallcap World Fund and DJI is 0.9 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Smallcap World Fund 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 Smallcap World Fund. 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 private.

Moving together with Smallcap Mutual Fund

  0.96RNEBX New World FundPairCorr
  0.96RNCCX American Funds IncomePairCorr
  0.86FPPPX American Funds PresePairCorr
  0.93AMEFX Income FundPairCorr
  0.95RNGGX New Economy FundPairCorr
  0.95RNGFX New Economy FundPairCorr
  0.95RNGHX New Economy FundPairCorr
  0.94RNGBX New Economy FundPairCorr
  0.94RNGAX New Economy FundPairCorr
  0.95RNGEX New Economy FundPairCorr
  0.95RNGCX New Economy FundPairCorr
  0.86TEAFX Tax Exempt BondPairCorr
  0.96FPTPX American Funds ConsePairCorr
  0.76TEFEX Tax Exempt FundPairCorr
  0.94RNNEX New Economy FundPairCorr
  0.97CDJAX American Funds CollegePairCorr
  0.95RNPBX New PerspectivePairCorr
  0.95RNPAX New PerspectivePairCorr
  0.96RNPHX New PerspectivePairCorr
  0.96RNPGX New PerspectivePairCorr
  0.95RNPCX New PerspectivePairCorr
  0.96RNPFX New PerspectivePairCorr
  0.96RNPEX New PerspectivePairCorr
  0.93AMRFX American MutualPairCorr
  0.96RNRPX American Funds RetirementPairCorr
  0.96RNWFX New World FundPairCorr
  0.96RNWEX New World FundPairCorr
  0.96RNWHX New World FundPairCorr
  0.96RNWGX New World FundPairCorr
  0.96RNWBX New World FundPairCorr
  0.96RNWAX New World FundPairCorr
  0.96RNWCX New World FundPairCorr
  0.89CDWEX American Funds DevelopingPairCorr
  0.89CDWFX American Funds DevelopingPairCorr
  0.89CDWCX American Funds DevelopingPairCorr
  0.87CDWAX American Funds DevelopingPairCorr
  0.76ANBGX American Funds StrategicPairCorr
  0.75ANBFX American Funds StrategicPairCorr
  0.84CEAMX Short Term BondPairCorr
  0.82TFEBX Tax Exempt BondPairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

There is a big difference between Smallcap Mutual Fund performing well and Smallcap World 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 Smallcap World'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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