Tributary Small/mid Correlations

Mutual Funds . USA . 
Fund . Tributary Smallmid Cap
FSMBX Fund  USD 17.09  0.14  0.81%   
The current 90-days correlation between Tributary Smallmid Cap and Segall Bryant Hamill is 0.27 (i.e., Modest diversification). The correlation of Tributary Small/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.

Tributary Small/mid Correlation With Market

Very poor diversification

The correlation between Tributary Smallmid Cap and DJI is 0.81 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Tributary Smallmid Cap and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Tributary Smallmid 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 bureau of labor statistics.

Moving together with Tributary Mutual Fund

  1.0FSMCX Tributary Smallmid CapPairCorr
  0.72FOBAX Balanced Fund InstitPairCorr
  0.72FOBPX Balanced Fund InstitPairCorr
  0.73FOIPX Income Fund InstitutionalPairCorr
  0.74FOINX Income Fund InstitutionalPairCorr
  0.8FONPX Tributary Nebraska TaxPairCorr
  0.7FOSIX Short Intermediate BondPairCorr
  0.88FOSCX Small Pany FundPairCorr
  0.88FOSBX Small Pany FundPairCorr
  0.7FOSPX Short Intermediate BondPairCorr
  0.95VSMAX Vanguard Small CapPairCorr
  0.95VSCIX Vanguard Small CapPairCorr
  0.95VSCPX Vanguard Small CapPairCorr
  0.95NAESX Vanguard Small CapPairCorr
  0.94FSSNX Fidelity Small CapPairCorr
  0.94DFSTX Us Small CapPairCorr
  0.92FTHSX Fuller Thaler BehavioralPairCorr
  0.92FTHNX Fuller Thaler BehavioralPairCorr
  0.82PASVX T Rowe PricePairCorr
  0.82PRVIX T Rowe PricePairCorr
  0.81BRUFX Bruce Fund BrucePairCorr
  0.72SPGSX State Street PremierPairCorr
  0.79KF Korea ClosedPairCorr
  0.7LSVMX Lsv Managed VolatilityPairCorr
  0.86FCDAX Fidelity Stock SelectorPairCorr
  0.77NCSRX Nuveen Symphony CreditPairCorr
  0.82FEQIX Fidelity Equity IncomePairCorr
  0.78QGRCX Oppenheimer Gbl AllocPairCorr
  0.67RBCGX Reynolds Blue ChipPairCorr
  0.83SSCKX State Street TargetPairCorr
  0.75LGCAX Lord Abbett GlobalPairCorr
  0.69GAAKX Gmo Alternative AlloPairCorr
  0.83BAFJX Brown AdvisoryPairCorr
  0.8EKWYX Wells Fargo Advantage Steady GrowthPairCorr
  0.74MTBIX Mainstay Tax FreePairCorr
  0.75FAFOX Nuveen Kansas MunicipalPairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

There is a big difference between Tributary Mutual Fund performing well and Tributary Small/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 Tributary Small/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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