Jacob Micro Correlations

Mutual Funds . USA . 
Fund . Jacob Micro Cap
JMIGX Fund  USD 35.79  0.06  0.17%   
The current 90-days correlation between Jacob Micro Cap and Qs Global Equity is 0.47 (i.e., Very weak 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

Poor diversification

The correlation between Jacob Micro Cap and DJI is 0.66 (i.e., Poor 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

  0.95JSCGX Jacob Small CapPairCorr
  0.84JSIGX Jacob Small CapPairCorr
  1.0JMCGX Jacob Micro CapPairCorr
  0.82VSMAX Vanguard Small CapPairCorr
  0.83VSCIX Vanguard Small CapPairCorr
  0.82VSCPX Vanguard Small CapPairCorr
  0.82NAESX Vanguard Small CapPairCorr
  0.83FSSNX Fidelity Small CapPairCorr
  0.89DFSTX Us Small CapPairCorr
  0.87FTHSX Fuller Thaler BehavioralPairCorr
  0.86FTHNX Fuller Thaler BehavioralPairCorr
  0.77PASVX T Rowe PricePairCorr
  0.77PRVIX T Rowe PricePairCorr
  0.69PMPIX Precious Metals Ultr Steady GrowthPairCorr
  0.69PMPSX Precious Metals Ultr Steady GrowthPairCorr
  0.72FGPMX Franklin Gold AndPairCorr
  0.7FRGOX Franklin Gold PreciousPairCorr
  0.73MIDSX Midas Fund MidasPairCorr
  0.7FIJDX Gold Portfolio FidelityPairCorr
  0.76ONECX Jpmorgan Investor GrowthPairCorr
  0.75RRTFX T Rowe PricePairCorr
  0.94FDSCX Fidelity Stock SelectorPairCorr
  0.71SCHLX Deutsche Health AndPairCorr
  0.76WINDX Wilshire 5000 IndexPairCorr
  0.68VEIRX Vanguard Equity IncomePairCorr
  0.78VESIX Vanguard European StockPairCorr
  0.79TBARX Touchstone StrategicPairCorr
  0.72OCMGX Ocm Mutual FundPairCorr
  0.71JSHSX Janus Short TermPairCorr
  0.69MBAAX Global StrategistPairCorr
  0.84PSBPX Smallcap Fund FkaPairCorr
  0.71GLEAX Goldman Sachs Mlp Potential GrowthPairCorr
  0.78AADRX Invesco Growth AllocationPairCorr

Related Correlations Analysis


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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