Small Cap Correlations

Mutual Funds . USA . 
Fund . Small Cap Equity
GSCYX Fund  USD 18.17  0.02  0.11%   
The current 90-days correlation between Small Cap Equity and The Hartford Growth is 0.16 (i.e., Average diversification). The correlation of Small Cap 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.

Small Cap Correlation With Market

Very poor diversification

The correlation between Small Cap Equity and DJI is 0.89 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Small Cap Equity and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Small Cap Equity. 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 Small Mutual Fund

  0.99GCOZX Growth AllocationPairCorr
  0.98GDMYX Defensive Market StrPairCorr
  0.98GDMZX Defensive Market StrPairCorr
  0.99GVEYX Value Equity InstituPairCorr
  0.99GVEZX Value Equity InvestorPairCorr
  0.93GVIYX Guidestone Value EquityPairCorr
  0.93GVIZX Guidestone Value EquityPairCorr
  0.81GEMYX Emerging Markets EquityPairCorr
  0.81GEMZX Emerging Markets EquityPairCorr
  0.79GEQYX Equity Index InstituPairCorr
  0.83GEQZX Equity Index InvestorPairCorr
  0.96GFIZX Conservative AllocationPairCorr
  0.87GFSYX Strategic AlternativesPairCorr
  0.89GFSZX Strategic AlternativesPairCorr
  0.96GGBZX Aggressive AllocationPairCorr
  0.73GGBFX Global Bond FundPairCorr
  0.82GGEZX Growth Equity InvestorPairCorr
  0.99GGIZX Balanced AllocationPairCorr
  0.99GGRYX Growth AllocationPairCorr
  0.95GIEYX International EquityPairCorr
  0.96GIEZX International EquityPairCorr
  0.86GIIYX International EquityPairCorr
  0.88GIIZX Guidestone Funds IntPairCorr
  0.85GLDYX Low Duration BondPairCorr
  0.85GLDZX Low Duration BondPairCorr
  0.68GMDYX Medium Duration BondPairCorr
  0.66GMDZX Medium Duration BondPairCorr
  0.93GMFZX Mydestination 2045PairCorr
  0.98GMHYX Mydestination 2035PairCorr
  0.95GMHZX Mydestination 2035PairCorr
  0.94GMGYX Mydestination 2055PairCorr
  0.92GMGZX Mydestination 2055PairCorr
  0.98GMTYX Mydestination 2015PairCorr
  0.98GMTZX Mydestination 2015PairCorr
  0.96GMWYX Mydestination 2025PairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

There is a big difference between Small Mutual Fund performing well and Small Cap 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 Small Cap'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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