Jacob Micro Correlations

Mutual Funds . USA . 
Fund . Jacob Micro Cap
JMCGX Fund  USD 24.06  0.17  0.71%   
The current 90-days correlation between Jacob Micro Cap and Jacob Internet Fund is 0.84 (i.e., Very poor diversification). The correlation of Jacob Micro 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.

Jacob Micro Correlation With Market

Modest diversification

The correlation between Jacob Micro Cap and DJI is 0.25 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Jacob Micro 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 Jacob Micro 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 price.

Moving together with Jacob Mutual Fund

  0.93JAMFX Jacob InternetPairCorr
  0.94JSCGX Jacob Small CapPairCorr
  0.94JSIGX Jacob Small CapPairCorr
  1.0JMIGX Jacob Micro CapPairCorr
  0.8VSMPX Vanguard Total StockPairCorr
  0.67MLXIX Catalyst Mlp Infrast Potential GrowthPairCorr
  0.7RYNVX Nova Fund InvestorPairCorr
  0.8FEGPX Fa529 Eq GrPairCorr
  0.65FCSGX Franklin Small CapPairCorr
  0.88ADNAX American Beacon ArkPairCorr
  0.7EGLNX Eagle Mlp StrategyPairCorr
  0.73FSAWX Fidelity Sai ConvertiblePairCorr
  0.63BLAVX Lord Abbett MultiPairCorr
  0.73STBAX Invesco Short TermPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Jacob Mutual Fund performing well and Jacob Micro 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 Jacob Micro'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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