International Small Correlations

Mutual Funds . USA . 
Fund . International Small Cap
IRCZX Fund  USD 15.62  0.03  0.19%   
The current 90-days correlation between International Small Cap and John Hancock Funds is 0.43 (i.e., Very weak diversification). The correlation of International Small 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.

International Small Correlation With Market

Very poor diversification

The correlation between International Small Cap 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 International Small Cap 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 International Small 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 nation.

Moving together with International Mutual Fund

  0.89GCEAX Ab Global EPairCorr
  0.88GCECX Ab Global EPairCorr
  0.89GCEYX Ab Global EPairCorr
  0.88AMTAX Ab All MarketPairCorr
  0.88AMTZX Ab All MarketPairCorr
  0.88AMTYX Ab All MarketPairCorr
  0.88AMTOX Ab All MarketPairCorr
  0.64ANAZX Ab Global BondPairCorr
  0.62ANAYX Ab Global BondPairCorr
  0.65ANAGX Ab Global BondPairCorr
  0.63ANAIX Ab Global BondPairCorr
  0.61ANACX Ab Global BondPairCorr
  0.71ANBIX Ab Bond InflationPairCorr
  0.77ANYCX Ab New YorkPairCorr
  1.0STEYX International StrategicPairCorr
  1.0STEZX International StrategicPairCorr
  1.0STESX International StrategicPairCorr
  0.62STHYX Ab Sustainable ThematicPairCorr
  0.95SCAVX Ab Small CapPairCorr
  0.95SCCVX Ab Small CapPairCorr
  0.95SCRSX Small Cap CorePairCorr
  0.95SCRYX Small Cap CorePairCorr
  0.95SCRZX Small Cap CorePairCorr
  0.95SCYVX Ab Small CapPairCorr
  0.81CHCLX Ab Discovery GrowthPairCorr
  0.8CHCIX Ab Discovery GrowthPairCorr
  0.8CHCCX Ab Discovery GrowthPairCorr
  0.8CHCYX Ab Discovery GrowthPairCorr

Moving against International Mutual Fund

  0.83SUTAX Ab Sustainable ThematicPairCorr
  0.83SUTCX Ab Sustainable ThematicPairCorr
  0.83SUTZX Ab Sustainable ThematicPairCorr
  0.42APWIX Ab Servative WealthPairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

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