Qs Small Correlations

LMSIX Fund

USD 13.89 0.02 0.14%

The current 90-days correlation between Qs Small Capitalization and Franklin Mutual Beacon is 0.48 (i.e., Very weak diversification). The correlation of Qs 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.

Qs Small Correlation With Market

Very poor diversification

The correlation between Qs Small Capitalization and DJI is 0.85 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Qs Small Capitalization and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Qs Small Capitalization. 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 gross domestic product.

Moving together with LMSIX Mutual Fund

0.75	TEBIX	Franklin Mutual Beacon	Pair Corr
0.75	TEMEX	Franklin Mutual Beacon	Pair Corr
0.7	TEMWX	Templeton World	Pair Corr
0.87	TEMTX	Franklin Mutual Shares	Pair Corr
0.7	TEMQX	Mutual Quest	Pair Corr
0.87	SAIFX	Clearbridge Large Cap	Pair Corr
0.81	SAGYX	Clearbridge Aggressive	Pair Corr
0.7	TEQIX	Franklin Mutual Quest	Pair Corr
0.7	TWDAX	Templeton World	Pair Corr
0.86	TESIX	Franklin Mutual Shares	Pair Corr
0.87	TESRX	Franklin Mutual Shares	Pair Corr
0.69	TEWTX	Templeton World	Pair Corr
0.79	SAPYX	Clearbridge Appreciation	Pair Corr
0.92	SASMX	Clearbridge Small Cap	Pair Corr

Moving against LMSIX Mutual Fund

0.43	TEMMX	Templeton Emerging	Pair Corr
0.36	TEGBX	Templeton Global Bond	Pair Corr
0.33	TEDMX	Templeton Developing	Pair Corr
0.33	TEFTX	Templeton Foreign	Pair Corr
0.42	TEMZX	Templeton Emerging	Pair Corr

Related Correlations Analysis

	TEBIX	TEDMX	TEDIX	TEDSX	TEDRX	TEFRX	TEFTX	TEGBX	TEGRX	TEMFX
TEBIX		0.14	0.89	0.74	0.89	0.28	0.21	0.16	0.79	0.29	TEBIX
TEDMX	0.14		0.51	0.49	0.51	0.9	0.87	0.75	0.43	0.9	TEDMX
TEDIX	0.89	0.51		0.88	1.0	0.64	0.59	0.51	0.79	0.64	TEDIX
TEDSX	0.74	0.49	0.88		0.88	0.65	0.67	0.6	0.73	0.65	TEDSX
TEDRX	0.89	0.51	1.0	0.88		0.64	0.59	0.51	0.79	0.65	TEDRX
TEFRX	0.28	0.9	0.64	0.65	0.64		0.95	0.92	0.56	1.0	TEFRX
TEFTX	0.21	0.87	0.59	0.67	0.59	0.95		0.93	0.49	0.95	TEFTX
TEGBX	0.16	0.75	0.51	0.6	0.51	0.92	0.93		0.42	0.91	TEGBX
TEGRX	0.79	0.43	0.79	0.73	0.79	0.56	0.49	0.42		0.56	TEGRX
TEMFX	0.29	0.9	0.64	0.65	0.65	1.0	0.95	0.91	0.56		TEMFX
	TEBIX	TEDMX	TEDIX	TEDSX	TEDRX	TEFRX	TEFTX	TEGBX	TEGRX	TEMFX

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Risk-Adjusted Indicators

There is a big difference between LMSIX Mutual Fund performing well and Qs 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 Qs 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.

	Mean Deviation	Jensen Alpha	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
TEBIX	0.54	(0.15)	(0.27)	0.83	(1.05)	6.52
TEDMX	0.80	(0.04)	(0.15)	1.50	(1.68)	6.20
TEDIX	0.62	(0.22)	(0.62)	0.85	(1.05)	10.42
TEDSX	0.62	(0.23)	92.27	0.82	(1.35)	3.59
TEDRX	0.62	(0.22)	(0.62)	0.84	(1.08)	10.33
TEFRX	0.77	(0.17)	(0.54)	1.27	(2.02)	5.69
TEFTX	0.77	(0.19)	12.09	1.37	(1.97)	5.54
TEGBX	0.43	(0.19)	(2.08)	0.67	(1.01)	3.22
TEGRX	0.57	(0.10)	(0.12)	0.99	(0.94)	4.35
TEMFX	0.78	(0.17)	(0.54)	1.36	(2.06)	5.66

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