Paradigm Micro-cap Correlations

Mutual Funds . USA . 
Fund . Paradigm Micro Cap Fund
PVIVX Fund  USD 59.51  1.26  2.16%   
The current 90-days correlation between Paradigm Micro Cap and Paradigm Select Fund is 0.91 (i.e., Almost no diversification). The correlation of Paradigm Micro-cap 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.

Paradigm Micro-cap Correlation With Market

Poor diversification

The correlation between Paradigm Micro Cap Fund 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 Paradigm Micro Cap Fund 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 Paradigm Micro Cap Fund. 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 Paradigm Mutual Fund

  0.76PFSLX Paradigm SelectPairCorr
  0.85PVFAX Paradigm ValuePairCorr
  0.66NAESX Vanguard Small CapPairCorr
  0.66PASVX T Rowe PricePairCorr
  0.65PRSVX T Rowe PricePairCorr
  0.68DXQLX Direxion Monthly NasdaqPairCorr
  0.69RYVLX Nasdaq 100 2xPairCorr
  0.63RYVYX Nasdaq 100 2xPairCorr
  0.69UOPIX Ultra Nasdaq 100PairCorr
  0.7RYCCX Nasdaq 100 2xPairCorr
  0.7UOPSX Ultranasdaq 100 ProfundPairCorr
  0.67VEIPX Vanguard Equity IncomePairCorr
  0.61AMDVX Mid Cap ValuePairCorr
  0.63CSQ Calamos Strategic TotalPairCorr
  0.67HFMIX Hartford MidcapPairCorr
  0.7VMIAX Vanguard Materials IndexPairCorr
  0.64VINIX Vanguard InstitutionalPairCorr
  0.68RRTMX T Rowe PricePairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Paradigm Mutual Fund performing well and Paradigm Micro-cap 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 Paradigm Micro-cap'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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