Smallcap Correlations

PSSIX Fund

USD 26.21 0.48 1.80%

The current 90-days correlation between Smallcap Sp 600 and Strategic Allocation Moderate is 0.32 (i.e., Weak 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

Poor diversification

The correlation between Smallcap Sp 600 and DJI is 0.68 (i.e., Poor 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

0.93	VSMAX	Vanguard Small Cap	Pair Corr
0.93	VSCIX	Vanguard Small Cap	Pair Corr
0.93	VSCPX	Vanguard Small Cap	Pair Corr
0.93	NAESX	Vanguard Small Cap	Pair Corr
0.88	FSSNX	Fidelity Small Cap	Pair Corr
0.91	DFSTX	Us Small Cap	Pair Corr
0.94	FTHSX	Fuller Thaler Behavioral	Pair Corr
0.8	FTHNX	Fuller Thaler Behavioral	Pair Corr
0.76	PASVX	T Rowe Price	Pair Corr
0.94	PRVIX	T Rowe Price	Pair Corr
0.85	WHIAX	Ivy High Income	Pair Corr
0.85	IVHIX	Ivy High Income	Pair Corr
0.85	IHIFX	Ivy High Income	Pair Corr
0.84	WRHIX	Ivy High Income	Pair Corr
0.84	WHIYX	Ivy High Income	Pair Corr
0.77	AA	Alcoa Corp Downward Rally	Pair Corr
0.63	WMT	Walmart Common Stock Sell-off Trend	Pair Corr
0.88	BA	Boeing Earnings Call Today	Pair Corr
0.61	XOM	Exxon Mobil Corp Earnings Call This Week	Pair Corr
0.66	DIS	Walt Disney	Pair Corr

Moving against Smallcap Mutual Fund

0.52	ERH	Allspring Utilities And	Pair Corr
0.56	T	ATT Inc Earnings Call Tomorrow	Pair Corr
0.37	VZ	Verizon Communications Earnings Call This Week	Pair Corr
0.35	MSFT	Microsoft Earnings Call Tomorrow	Pair Corr

Related Correlations Analysis

	EXBAX	MLLCX	RRPPX	MNMCX	TWSMX
EXBAX		0.93	0.91	1.0	0.96	EXBAX
MLLCX	0.93		0.97	0.93	0.96	MLLCX
RRPPX	0.91	0.97		0.91	0.94	RRPPX
MNMCX	1.0	0.93	0.91		0.96	MNMCX
TWSMX	0.96	0.96	0.94	0.96		TWSMX
	EXBAX	MLLCX	RRPPX	MNMCX	TWSMX

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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
EXBAX	0.35	0.08	0.08	0.32	0.00	(0.46)	0.69	(0.51)	4.72
MLLCX	0.23	0.03	(0.09)	0.20	0.00	(0.29)	0.48	(0.41)	2.87
RRPPX	0.32	0.06	0.05	0.25	0.13	(0.38)	0.61	(0.61)	3.48
MNMCX	0.36	0.07	0.07	0.29	0.00	(0.44)	0.68	(0.50)	4.66
TWSMX	0.45	0.08	0.08	0.20	0.29	(0.57)	0.95	(0.78)	6.76

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