Tributary Small/mid Correlations

Mutual Funds . USA . 
Fund . Tributary Smallmid Cap
FSMCX Fund  USD 17.06  0.04  0.24%   
The current 90-days correlation between Tributary Smallmid Cap and Payden Government Fund is 0.04 (i.e., Significant 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

Almost no diversification

The correlation between Tributary Smallmid Cap 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 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 unemployment.

Moving together with Tributary Mutual Fund

  1.0FSMBX Tributary Smallmid CapPairCorr
  0.79FOBAX Balanced Fund InstitPairCorr
  0.79FOBPX Balanced Fund InstitPairCorr
  0.76FOIPX Income Fund InstitutionalPairCorr
  0.75FOINX Income Fund InstitutionalPairCorr
  0.87FONPX Tributary Nebraska TaxPairCorr
  0.8FOSIX Short Intermediate BondPairCorr
  0.92FOSCX Small Pany FundPairCorr
  0.92FOSBX Small Pany FundPairCorr
  0.81FOSPX Short Intermediate BondPairCorr
  0.98VSMAX Vanguard Small CapPairCorr
  0.98VSCIX Vanguard Small CapPairCorr
  0.98VSCPX Vanguard Small CapPairCorr
  0.98NAESX Vanguard Small CapPairCorr
  0.97FSSNX Fidelity Small CapPairCorr
  0.98DFSTX Us Small CapPairCorr
  0.96FTHSX Fuller Thaler BehavioralPairCorr
  0.96FTHNX Fuller Thaler BehavioralPairCorr
  0.88PASVX T Rowe PricePairCorr
  0.88PRVIX T Rowe PricePairCorr
  0.86FSMMX Fs Multi StrategyPairCorr
  0.89BTMPX Ishares Msci EafePairCorr
  0.93BTMKX Blackrock InternationalPairCorr
  0.93MDIIX Blackrock Intern IndexPairCorr
  0.78SPMPX Invesco Steelpath MlpPairCorr
  0.78MLPNX Oppenheimer Steelpath MlpPairCorr
  0.78MLPMX Oppenheimer Steelpath MlpPairCorr
  0.78SPMJX Invesco Steelpath MlpPairCorr
  0.77IENSX Invesco EnergyPairCorr
  0.84IAAEX Transamerica FinancialPairCorr
  0.78SEEKX Steward Large CapPairCorr
  0.93SWJRX Schwab Monthly IncomePairCorr
  0.84FFPNX American Funds NewPairCorr
  0.83ARSVX Amg River RoadPairCorr
  0.75IRSRX Ivy Advantus RealPairCorr
  0.9FYMRX Fidelity SustainablePairCorr
  0.9MDIGX Mfs InternationalPairCorr
  0.91TSOHX Tiaa Cref SocialPairCorr

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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