Smallcap Correlations

Mutual Funds . USA . 
Fund . Smallcap Sp 600
PSPIX Fund  USD 26.96  0.72  2.74%   
The current 90-days correlation between Smallcap Sp 600 and Siit Ultra Short is 0.06 (i.e., Significant diversification). The correlation of Smallcap 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.

Smallcap Correlation With Market

Almost no diversification

The correlation between Smallcap Sp 600 and DJI is 0.91 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Smallcap Sp 600 and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Smallcap Sp 600. 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 Smallcap Mutual Fund

  0.96SABPX Strategic Asset ManaPairCorr
  0.96SACAX Strategic Asset ManaPairCorr
  0.96SAGPX Strategic Asset ManaPairCorr
  0.95PFIJX Strategic Asset ManaPairCorr
  0.95PFIEX International EquityPairCorr
  0.98PFIFX Strategic Asset ManaPairCorr
  0.93PFISX International Small PanyPairCorr
  0.98PFIPX Strategic Asset ManaPairCorr
  0.96SAIPX Strategic Asset ManaPairCorr
  0.98PFLJX Principal Lifetime 2050PairCorr
  0.95SAUPX Strategic Asset ManaPairCorr
  0.9PFUMX Finisterre UnconstrainedPairCorr
  0.62PGBAX Global Diversified IncomePairCorr
  0.69PGBLX Global Diversified IncomePairCorr
  0.86PGBEX Blue Chip FundPairCorr
  0.86PGBGX Blue Chip FundPairCorr
  0.86PGBHX Blue Chip FundPairCorr
  0.67PGDIX Global Diversified IncomePairCorr
  0.86PGDRX Diversified Real AssetPairCorr
  0.99PGLSX Global Multi StrategyPairCorr
  0.86STCCX Short Term IncomePairCorr
  0.98PGRTX Smallcap GrowthPairCorr
  0.66PGRUX Global Real EstatePairCorr
  0.65PGRKX Global Real EstatePairCorr
  0.98SCBPX Strategic Asset ManaPairCorr
  0.98SCIPX Strategic Asset ManaPairCorr
  0.98SCGPX Strategic Asset ManaPairCorr
  0.98PHJEX Principal Lifetime HybridPairCorr
  0.98PHJFX Principal Lifetime HybridPairCorr
  0.98PHJGX Principal Lifetime HybridPairCorr
  0.98PHJBX Principal Lifetime HybridPairCorr
  0.97PHJDX Principal Lifetime HybridPairCorr
  0.98PHJNX Principal Lifetime HybridPairCorr
  0.98PHJQX Principal Lifetime HybridPairCorr
  0.98PHJJX Principal Lifetime HybridPairCorr
  0.98PHJMX Principal Lifetime HybridPairCorr
  0.98PHJYX Principal Lifetime HybridPairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

There is a big difference between Smallcap Mutual Fund performing well and Smallcap 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 Smallcap'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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