Meridian Small Correlations

MSGGX Fund

USD 12.40 0.26 2.14%

The current 90-days correlation between Meridian Small Cap and Meridian Small Cap is 1.0 (i.e., No risk reduction). The correlation of Meridian 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.

Meridian Small Correlation With Market

Poor diversification

The correlation between Meridian Small Cap and DJI is 0.73 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Meridian Small Cap 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 Meridian Small 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 Meridian Mutual Fund

0.97	MRAGX	Meridian Growth	Pair Corr
0.97	MRIGX	Meridian Growth	Pair Corr
0.97	MRRGX	Meridian Growth	Pair Corr
1.0	MSGAX	Meridian Small Cap	Pair Corr
0.93	MVALX	Meridian Trarian	Pair Corr
0.97	MERDX	Meridian Growth	Pair Corr
0.96	MFCAX	Meridian Contrarian	Pair Corr
0.96	MFCCX	Meridian Contrarian	Pair Corr
0.96	MFCIX	Meridian Contrarian	Pair Corr
0.99	VSGAX	Vanguard Small Cap	Pair Corr
0.99	VSGIX	Vanguard Small Cap	Pair Corr
0.99	VISGX	Vanguard Small Cap	Pair Corr
0.92	VEXPX	Vanguard Explorer	Pair Corr
0.92	VEXRX	Vanguard Explorer	Pair Corr
0.98	JGMIX	Janus Triton	Pair Corr
0.98	JGMRX	Janus Triton	Pair Corr
0.98	JGMAX	Janus Triton	Pair Corr
0.98	JGMCX	Janus Triton	Pair Corr
0.95	JGMNX	Janus Triton	Pair Corr

Moving against Meridian Mutual Fund

0.56	SAEMX	Sa Emerging Markets	Pair Corr
0.44	NHS	Neuberger Berman High	Pair Corr
0.81	GF	New Germany Closed	Pair Corr
0.75	VSGDX	Vanguard Short Term	Pair Corr
0.7	PSDNX	Putnam Ultra Short	Pair Corr
0.7	BISMX	Brandes International	Pair Corr
0.69	USGDX	Morgan Stanley Government	Pair Corr
0.65	HRBDX	Harbor Bond Fund	Pair Corr
0.65	ABNOX	Ab Bond Inflation	Pair Corr
0.65	ARBOX	Absolute Convertible	Pair Corr
0.61	VICSX	Vanguard Intermediate-ter	Pair Corr
0.61	EMBAX	Unconstrained Emerging	Pair Corr
0.53	GIOIX	Guggenheim Macro Opp	Pair Corr
0.5	RMDUX	American Funds Multi	Pair Corr
0.48	UTF	Cohen And Steers	Pair Corr
0.48	DLDFX	Destinations Low Duration	Pair Corr
0.43	SGDLX	Sprott Gold Equity	Pair Corr
0.39	HTD	John Hancock Tax	Pair Corr

Related Correlations Analysis

	MSGAX	MSGCX	MSGRX	FIDGX	DMCRX
MSGAX		1.0	1.0	0.98	0.89	MSGAX
MSGCX	1.0		1.0	0.98	0.89	MSGCX
MSGRX	1.0	1.0		0.98	0.88	MSGRX
FIDGX	0.98	0.98	0.98		0.91	FIDGX
DMCRX	0.89	0.89	0.88	0.91		DMCRX
	MSGAX	MSGCX	MSGRX	FIDGX	DMCRX

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Risk-Adjusted Indicators

There is a big difference between Meridian Mutual Fund performing well and Meridian 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 Meridian 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
MSGAX	0.86	(0.17)	(0.22)	1.66	(2.04)	4.92
MSGCX	0.87	(0.17)	(0.22)	1.66	(2.03)	4.87
MSGRX	0.85	(0.16)	(0.22)	1.62	(1.97)	4.88
FIDGX	1.18	(0.13)	(0.15)	2.01	(3.23)	5.87
DMCRX	1.54	(0.25)	(0.24)	2.90	(3.71)	8.42

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