Smallcap World Correlations

Mutual Funds . USA . 
Fund . Smallcap World Fund
CSPFX Fund  USD 78.69  1.85  2.41%   
The current 90-days correlation between Smallcap World and Morningstar Unconstrained Allocation is 0.11 (i.e., Average 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 0.93 (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 census.

Moving together with Smallcap Mutual Fund

  0.97RNEBX New World FundPairCorr
  0.96RNCCX American Funds IncomePairCorr
  0.89FPPPX American Funds PresePairCorr
  0.95AMEFX Income FundPairCorr
  0.95RNGGX New Economy Fund Potential GrowthPairCorr
  0.95RNGFX New Economy Fund Potential GrowthPairCorr
  0.95RNGHX New Economy Fund Potential GrowthPairCorr
  0.95RNGBX New Economy Fund Potential GrowthPairCorr
  0.95RNGAX New Economy Fund Potential GrowthPairCorr
  0.95RNGEX New Economy Fund Potential GrowthPairCorr
  0.95RNGCX New Economy Fund Potential GrowthPairCorr
  0.81TEAFX Tax Exempt BondPairCorr
  0.96FPTPX American Funds ConsePairCorr
  0.75TEFEX Tax Exempt FundPairCorr
  0.93RNNEX New Economy Fund Potential GrowthPairCorr
  0.95CDJAX American Funds CollegePairCorr
  0.96RNPBX New PerspectivePairCorr
  0.96RNPAX New PerspectivePairCorr
  0.97RNPHX New PerspectivePairCorr
  0.97RNPGX New PerspectivePairCorr
  0.96RNPCX New PerspectivePairCorr
  0.97RNPFX New PerspectivePairCorr
  0.97RNPEX New PerspectivePairCorr
  0.95AMRFX American MutualPairCorr
  0.96RNRPX American Funds RetirementPairCorr
  0.97RNWFX New World FundPairCorr
  0.97RNWEX New World FundPairCorr
  0.97RNWHX New World FundPairCorr
  0.97RNWGX New World FundPairCorr
  0.97RNWBX New World FundPairCorr
  0.97RNWAX New World FundPairCorr
  0.97RNWCX New World FundPairCorr
  0.89CDWEX American Funds DevelopingPairCorr
  0.89CDWFX American Funds DevelopingPairCorr
  0.88CDWCX American Funds DevelopingPairCorr
  0.89CDWAX American Funds DevelopingPairCorr
  0.8ANBGX American Funds StrategicPairCorr
  0.79ANBFX American Funds StrategicPairCorr
  0.85CEAMX Short Term BondPairCorr
  0.81TFEBX 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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