Mid-cap Growth Correlations

Mutual Funds . USA . 
Fund . Mid Cap Growth Profund
MGPSX Fund  USD 84.06  0.31  0.37%   
The current 90-days correlation between Mid Cap Growth and Arrow Managed Futures is 0.46 (i.e., Very weak diversification). The correlation of Mid-cap Growth 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.

Mid-cap Growth Correlation With Market

Very poor diversification

The correlation between Mid Cap Growth Profund 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 Mid Cap Growth Profund 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 Mid Cap Growth Profund. 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 state.

Moving together with Mid-cap Mutual Fund

  0.86TEPIX Technology UltrasectorPairCorr
  0.86TEPSX Technology UltrasectorPairCorr
  0.91LGPIX Large Cap GrowthPairCorr
  0.91LGPSX Profunds Large CapPairCorr
  0.91OTPIX Nasdaq 100 ProfundPairCorr
  0.91OTPSX Nasdaq 100 ProfundPairCorr
  0.97MLPSX Mid Cap ValuePairCorr
  0.97MLPIX Mid Cap ValuePairCorr
  0.81ENPSX Oil Gas Ultrasector Potential GrowthPairCorr
  0.81ENPIX Oil Gas Ultrasector Potential GrowthPairCorr
  0.82BTCFX Bitcoin Strategy ProfundPairCorr
  0.7PHPIX Pharmaceuticals UltrasectorPairCorr
  0.69PHPSX Pharmaceuticals UltrasectorPairCorr
  0.92INPIX Internet UltrasectorPairCorr
  0.92INPSX Internet UltrasectorPairCorr
  0.95ULPIX Ultrabull ProfundPairCorr
  0.95ULPSX Ultrabull ProfundPairCorr
  0.91WCPIX Mobile TelecommunicatioPairCorr
  0.91WCPSX Mobile TelecommunicatioPairCorr
  0.89CYPSX Consumer ServicesPairCorr
  0.89CYPIX Consumer ServicesPairCorr
  0.94SVPIX Small Cap ValuePairCorr
  0.94SVPSX Small Cap ValuePairCorr
  0.7RRPSX Rising Rates OpportunityPairCorr
  0.99UMPSX Ultramid Cap Profund Steady GrowthPairCorr
  0.99UMPIX Ultramid Cap Profund Steady GrowthPairCorr

Moving against Mid-cap Mutual Fund

  0.99UIPIX Ultrashort Mid CapPairCorr
  0.99UIPSX Ultrashort Mid CapPairCorr
  0.95BRPIX Bear Profund BearPairCorr
  0.95BRPSX Bear Profund BearPairCorr
  0.7GVPIX Us Government PlusPairCorr
  0.7GVPSX Us Government PlusPairCorr
  0.69UKPSX Ultrashort Japan ProfundPairCorr
  0.69UKPIX Ultrashort Japan ProfundPairCorr
  0.73FDPSX Falling Dollar ProfundPairCorr
  0.73FDPIX Falling Dollar ProfundPairCorr
  0.54UNPSX UltrainternationalPairCorr
  0.53UNPIX UltrainternationalPairCorr

Related Correlations Analysis

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.
High positive correlations   
OPTCX
+ 0.97
VOLMX
ABVCX
+ 0.97
VOLMX
ABVCX
+ 0.97
OPTCX
ABVCX
+ 0.93
TMVAX
TMVAX
+ 0.92
VOLMX
TMVAX
+ 0.91
OPTCX
  
High negative correlations   
VOLMX
- 0.5
MFTFX
OPTCX
- 0.45
MFTFX
ABVCX
- 0.41
MFTFX
LTFXX
- 0.26
MFTFX
TMVAX
- 0.26
MFTFX

Risk-Adjusted Indicators

There is a big difference between Mid-cap Mutual Fund performing well and Mid-cap Growth 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 Mid-cap Growth'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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