Smallcap World Correlations

Mutual Funds . USA . 
Fund . Smallcap World Fund
CSPFX Fund  USD 69.72  0.41  0.58%   
The current 90-days correlation between Smallcap World and Small Cap Value is 0.67 (i.e., Poor 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

Very weak diversification

The correlation between Smallcap World Fund and DJI is 0.41 (i.e., Very weak 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 census.

Moving together with Smallcap Mutual Fund

  0.88AMECX Income FundPairCorr
  0.86RNEBX New World FundPairCorr
  0.87AMFCX American MutualPairCorr
  0.88AMFFX American MutualPairCorr
  0.91RNCCX American Funds IncomePairCorr
  0.88AMEFX Income FundPairCorr
  0.89RNGGX New Economy FundPairCorr
  0.86RNGFX New Economy FundPairCorr
  0.91RNGHX New Economy FundPairCorr
  0.89RNGBX New Economy FundPairCorr
  0.84RNGAX New Economy FundPairCorr
  0.91RNGEX New Economy FundPairCorr
  0.86RNGCX New Economy FundPairCorr
  0.75AMHIX American High IncomePairCorr
  0.8TEBCX Tax Exempt BondPairCorr
  0.76TECCX Tax Exempt FundPairCorr
  0.75TEAFX Tax Exempt BondPairCorr
  0.94FPTPX American Funds ConsePairCorr
  0.74TECFX Tax Exempt FundPairCorr
  0.74TEFEX Tax Exempt FundPairCorr
  0.9RNNEX New Economy FundPairCorr
  0.87CDJAX American Funds CollegePairCorr
  0.92AMPCX Amcap Fund ClassPairCorr
  0.93AMPFX Amcap Fund ClassPairCorr
  0.91RNPBX New PerspectivePairCorr
  0.91RNPAX New PerspectivePairCorr
  0.9RNPHX New PerspectivePairCorr
  0.9RNPGX New PerspectivePairCorr
  0.91RNPCX New PerspectivePairCorr
  0.9RNPFX New PerspectivePairCorr
  0.91RNPEX New PerspectivePairCorr
  0.85AMRMX American MutualPairCorr
  0.88AMRFX American MutualPairCorr
  0.69RNRPX American Funds RetirementPairCorr
  0.83AMUSX Us Government SecuritiesPairCorr
  0.68TEPCX American Funds TaxPairCorr
  0.62TEPFX American Funds TaxPairCorr
  0.84RNWFX New World FundPairCorr

Related Correlations Analysis

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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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