Small Cap Correlations

Mutual Funds . USA . 
Fund . Small Cap Growth
JSJAX Fund  USD 16.09  0.04  0.25%   
The current 90-days correlation between Small Cap Growth and Janus Global Allocation is 0.13 (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 Growth and DJI is 0.83 (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 Growth 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 Growth. 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 Small Mutual Fund

  0.83FRBAX Regional BankPairCorr
  0.84FRBCX Regional BankPairCorr
  0.9JQLMX Multimanager LifestylePairCorr
  0.89JQLBX Multimanager LifestylePairCorr
  0.88JQLAX Multimanager LifestylePairCorr
  0.9JQLCX Multimanager LifestylePairCorr
  0.89JQLGX Multimanager LifestylePairCorr
  0.92JRETX J Hancock IiPairCorr
  0.79JRGRX Regional BankPairCorr
  0.88JRLIX Retirement Living ThroughPairCorr
  0.92JROUX J Hancock IiPairCorr
  0.89JAAIX Alternative AssetPairCorr
  0.89JAAPX Alternative AssetPairCorr
  0.89JAARX Alternative AssetPairCorr
  0.89JAASX Alternative AssetPairCorr
  0.92JAAVX Jhancock MultimanagerPairCorr
  0.9JRTKX Retirement Living ThroughPairCorr
  0.89JRTJX Retirement Living ThroughPairCorr
  0.92JAAZX Jhancock MultimanagerPairCorr
  0.92JABEX Jhancock MultimanagerPairCorr
  0.89JAAAX Alternative AssetPairCorr
  0.81PZFVX Classic ValuePairCorr
  0.89JAACX Alternative AssetPairCorr
  0.92JRTYX Multi Index 2050PairCorr
  0.9JABKX John Hancock FundsPairCorr
  0.92JABQX John Hancock FundsPairCorr
  0.95JABVX John Hancock GlobalPairCorr
  0.92JACFX John Hancock MidPairCorr
  0.91JALRX Multimanager LifestylePairCorr
  0.96JSJFX Small Cap GrowthPairCorr
  0.75JSNIX Jhancock Short DurationPairCorr
  0.72JSNRX Jhancock Short DurationPairCorr
  0.94SVBAX Balanced Fund ClassPairCorr
  0.94SVBCX Balanced Fund ClassPairCorr
  0.9JBATX Balanced Fund ClassPairCorr
  0.9JBAVX Balanced Fund ClassPairCorr

Moving against Small Mutual Fund

  0.65JTLAX Multimanager LifestylePairCorr
  0.63JCLBX Multimanager LifestylePairCorr

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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