Needham Small Correlations

NESGX Fund

USD 23.43 0.61 2.54%

The current 90-days correlation between Needham Small Cap and Small Pany Fund is 0.83 (i.e., Very poor diversification). The correlation of Needham 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.

Needham Small Correlation With Market

Poor diversification

The correlation between Needham Small Cap and DJI is 0.79 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Needham 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 Needham 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 census.

Moving together with Needham Mutual Fund

0.98	NEAIX	Needham Aggressive Growth	Pair Corr
0.98	NEAGX	Needham Aggressive Growth	Pair Corr
0.98	NEEGX	Needham Growth	Pair Corr
0.96	NEEIX	Needham Growth	Pair Corr
1.0	NESIX	Needham Small Cap	Pair Corr
0.93	VSMAX	Vanguard Small Cap	Pair Corr
0.96	VSCIX	Vanguard Small Cap	Pair Corr
0.96	VSCPX	Vanguard Small Cap	Pair Corr
0.96	NAESX	Vanguard Small Cap	Pair Corr
0.94	FSSNX	Fidelity Small Cap	Pair Corr
0.96	DFSTX	Us Small Cap	Pair Corr
0.92	FTHSX	Fuller Thaler Behavioral	Pair Corr
0.92	FTHNX	Fuller Thaler Behavioral	Pair Corr
0.81	PASVX	T Rowe Price	Pair Corr
0.72	PRVIX	T Rowe Price	Pair Corr
0.87	EKWAX	Wells Fargo Advantage	Pair Corr
0.84	UJPIX	Ultrajapan Profund	Pair Corr
0.84	FKRCX	Franklin Gold Precious	Pair Corr
0.91	OPGSX	Oppenheimer Gold Spec	Pair Corr
0.91	KF	Korea Closed	Pair Corr
0.88	FSAGX	Gold Portfolio Gold	Pair Corr
0.89	PSPFX	Global Resources	Pair Corr
0.9	GOLDX	Gabelli Gold	Pair Corr
0.89	UNWPX	World Precious Minerals	Pair Corr
0.88	SGGDX	First Eagle Gold	Pair Corr
0.88	MPIEX	Mondrian International	Pair Corr
0.92	VSMGX	Vanguard Lifestrategy	Pair Corr
0.92	SSGJX	State Street Global	Pair Corr
0.73	MBDIX	Mfs Porate Bond	Pair Corr
0.91	PIIIX	Diversified International	Pair Corr
0.83	HMSFX	Hennessy Bp Midstream	Pair Corr
0.84	FDESX	Fidelity Advisor Div	Pair Corr
0.91	FHBZX	Fidelity Freedom Blend	Pair Corr
0.88	WAIVX	Wasatch International	Pair Corr
0.9	FGINX	First Investors Growth	Pair Corr
0.92	FRBWX	Fidelity Freedom Index	Pair Corr
0.73	DPCFX	Delaware Diversified	Pair Corr
0.88	RECRX	Rbc Emerging Markets	Pair Corr

Related Correlations Analysis

	NEEGX	MECDX	MRLTX	JNVSX	AMIDX	AMDWX	DUNK	ICPAX	WSBFX	ASQIX
NEEGX		0.67	0.53	0.79	0.97	0.97	-0.88	0.88	0.7	0.91	NEEGX
MECDX	0.67		0.72	0.52	0.71	0.71	-0.5	0.43	0.75	0.79	MECDX
MRLTX	0.53	0.72		0.51	0.65	0.65	-0.38	0.27	0.97	0.71	MRLTX
JNVSX	0.79	0.52	0.51		0.74	0.74	-0.61	0.67	0.63	0.8	JNVSX
AMIDX	0.97	0.71	0.65	0.74		1.0	-0.87	0.84	0.81	0.91	AMIDX
AMDWX	0.97	0.71	0.65	0.74	1.0		-0.87	0.84	0.81	0.91	AMDWX
DUNK	-0.88	-0.5	-0.38	-0.61	-0.87	-0.87		-0.92	-0.58	-0.71	DUNK
ICPAX	0.88	0.43	0.27	0.67	0.84	0.84	-0.92		0.48	0.65	ICPAX
WSBFX	0.7	0.75	0.97	0.63	0.81	0.81	-0.58	0.48		0.81	WSBFX
ASQIX	0.91	0.79	0.71	0.8	0.91	0.91	-0.71	0.65	0.81		ASQIX
	NEEGX	MECDX	MRLTX	JNVSX	AMIDX	AMDWX	DUNK	ICPAX	WSBFX	ASQIX

Please upgrade your account to get full access to Macroaxis premium features

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

AMDWX	+ 1.0	AMIDX
AMIDX	+ 0.97	NEEGX
AMDWX	+ 0.97	NEEGX
WSBFX	+ 0.97	MRLTX
ASQIX	+ 0.91	NEEGX
ASQIX	+ 0.91	AMIDX

High negative correlations

ICPAX	- 0.92	DUNK
DUNK	- 0.88	NEEGX
DUNK	- 0.87	AMDWX
DUNK	- 0.87	AMIDX
ASQIX	- 0.71	DUNK
DUNK	- 0.61	JNVSX

Risk-Adjusted Indicators

There is a big difference between Needham Mutual Fund performing well and Needham 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 Needham 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
NEEGX	1.22	0.28	0.19	0.24	1.22	(1.37)	2.60	(2.33)	7.65
MECDX	0.73	0.16	0.16	(1.10)	0.60	(0.89)	1.14	(1.12)	10.46
MRLTX	1.01	0.26	0.22	0.55	0.77	(1.19)	1.28	(1.84)	19.97
JNVSX	0.58	0.03	0.03	0.08	0.65	(0.69)	1.28	(1.18)	3.27
AMIDX	0.78	0.21	0.14	0.33	0.97	(0.83)	1.84	(1.40)	6.81
AMDWX	0.79	0.20	0.14	0.32	0.96	(0.83)	1.84	(1.41)	6.83
DUNK	0.89	(0.23)	0.00	(0.25)	0.00	0.00	1.52	(2.09)	5.13
ICPAX	0.85	0.33	0.27	(3.86)	0.59	(1.03)	2.17	(1.35)	4.11
WSBFX	0.41	0.11	0.16	0.37	0.17	(0.51)	0.60	(0.57)	8.26
ASQIX	0.77	0.06	0.06	0.09	0.84	(0.81)	1.57	(1.67)	5.23

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2026 Macroaxis LLC