Meridian Small Correlations

MSGRX Fund

USD 12.31 0.02 0.16%

The current 90-days correlation between Meridian Small Cap and Allianzgi Equity Convertible is 0.56 (i.e., Very weak diversification). 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

Very poor diversification

The correlation between Meridian Small Cap and DJI is 0.8 (i.e., Very 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 real.

Moving together with Meridian Mutual Fund

0.86	MRAEX	Meridian Equity Income	Pair Corr
0.91	MRAGX	Meridian Growth	Pair Corr
0.87	MRCEX	Meridian Equity Income	Pair Corr
0.95	MRCGX	Meridian Growth	Pair Corr
0.91	MRIEX	Meridian Equity Income	Pair Corr
0.99	MRIGX	Meridian Growth	Pair Corr
0.96	MRRGX	Meridian Growth	Pair Corr
0.96	MSGAX	Meridian Small Cap	Pair Corr
0.96	MSGCX	Meridian Small Cap	Pair Corr
0.73	MSGGX	Meridian Small Cap	Pair Corr
0.91	MVALX	Meridian Contrarian	Pair Corr
0.91	MEIFX	Meridian Equity Income	Pair Corr
0.96	MERDX	Meridian Growth	Pair Corr
0.87	MFCAX	Meridian Contrarian	Pair Corr
0.83	MFCCX	Meridian Contrarian	Pair Corr
0.91	MFCIX	Meridian Contrarian	Pair Corr
0.96	MISGX	Meridian Small Cap	Pair Corr
0.87	VSGAX	Vanguard Small Cap	Pair Corr
0.87	VSGIX	Vanguard Small Cap	Pair Corr
0.87	VISGX	Vanguard Small Cap	Pair Corr
0.83	VEXPX	Vanguard Explorer	Pair Corr
0.83	VEXRX	Vanguard Explorer	Pair Corr
0.86	JGMIX	Janus Triton	Pair Corr
0.86	JGMRX	Janus Triton	Pair Corr
0.86	JGMAX	Janus Triton	Pair Corr
0.86	JGMCX	Janus Triton	Pair Corr
0.87	JGMNX	Janus Triton	Pair Corr
0.79	VSTSX	Vanguard Total Stock	Pair Corr
0.86	VSMPX	Vanguard Total Stock	Pair Corr
0.86	VITSX	Vanguard Total Stock	Pair Corr
0.77	VFFSX	Vanguard 500 Index	Pair Corr
0.84	VFIAX	Vanguard 500 Index	Pair Corr
0.79	VTSAX	Vanguard Total Stock	Pair Corr
0.68	VTSNX	Vanguard Total Inter	Pair Corr
0.64	VTISX	Vanguard Total Inter	Pair Corr
0.68	VTPSX	Vanguard Total Inter	Pair Corr
0.84	VINIX	Vanguard Institutional	Pair Corr
0.93	RYCCX	Nasdaq 100 2x	Pair Corr

Moving against Meridian Mutual Fund

0.37

FFUIX

Fidelity Advisor Uti Steady Growth

Pair Corr

Related Correlations Analysis

	CMIDX	SWOBX	MINDX	BCSIX	PXSIX	BTO	MIJFX	FFSIX	NIE
CMIDX		0.75	0.02	-0.47	0.81	0.71	0.92	0.38	0.78	CMIDX
SWOBX	0.75		0.25	-0.75	0.78	0.76	0.8	0.66	0.94	SWOBX
MINDX	0.02	0.25		-0.53	0.29	0.24	0.17	0.54	0.29	MINDX
BCSIX	-0.47	-0.75	-0.53		-0.75	-0.8	-0.66	-0.81	-0.72	BCSIX
PXSIX	0.81	0.78	0.29	-0.75		0.92	0.87	0.78	0.86	PXSIX
BTO	0.71	0.76	0.24	-0.8	0.92		0.82	0.75	0.77	BTO
MIJFX	0.92	0.8	0.17	-0.66	0.87	0.82		0.48	0.78	MIJFX
FFSIX	0.38	0.66	0.54	-0.81	0.78	0.75	0.48		0.75	FFSIX
NIE	0.78	0.94	0.29	-0.72	0.86	0.77	0.78	0.75		NIE
	CMIDX	SWOBX	MINDX	BCSIX	PXSIX	BTO	MIJFX	FFSIX	NIE

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

NIE	+ 0.94	SWOBX
MIJFX	+ 0.92	CMIDX
BTO	+ 0.92	PXSIX
MIJFX	+ 0.87	PXSIX
NIE	+ 0.86	PXSIX
MIJFX	+ 0.82	BTO

High negative correlations

FFSIX	- 0.81	BCSIX
BTO	- 0.8	BCSIX
PXSIX	- 0.75	BCSIX
BCSIX	- 0.75	SWOBX
NIE	- 0.72	BCSIX
MIJFX	- 0.66	BCSIX

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	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
CMIDX	0.88	0.02	0.02	0.07	0.91	(0.99)	1.57	(1.60)	5.05
SWOBX	0.41	0.06	0.01	(1.60)	0.43	(0.45)	1.12	(0.86)	2.99
MINDX	0.76	0.02	(0.03)	0.20	0.91	(0.86)	1.42	(1.74)	10.76
BCSIX	2.08	(1.11)	0.00	(0.53)	0.00	0.00	1.91	(3.03)	55.13
PXSIX	0.77	0.09	0.10	0.13	0.72	(0.93)	1.88	(1.43)	4.89
BTO	0.86	0.17	0.20	0.23	0.60	(1.05)	2.95	(1.15)	5.52
MIJFX	0.89	0.13	0.11	0.19	0.83	(1.03)	2.24	(2.10)	6.83
FFSIX	0.78	0.00	0.00	0.05	0.95	(0.82)	1.71	(1.80)	4.25
NIE	0.52	0.03	0.01	0.10	0.50	(0.60)	1.35	(0.99)	2.57

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