Smallcap World Correlations

Mutual Funds . USA . 
Fund . Smallcap World Fund
RSLCX Fund  USD 64.42  0.38  0.59%   
The current 90-days correlation between Smallcap World and Blackrock Health Sciences is 0.1 (i.e., Average diversification). The correlation of Smallcap World 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 World Correlation With Market

Poor diversification

The correlation between Smallcap World Fund and DJI is 0.64 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Smallcap World 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 Smallcap World 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 main economic indicators.

Moving together with Smallcap Mutual Fund

  0.89AMECX Income FundPairCorr
  0.87RNEBX New World FundPairCorr
  0.88AMFCX American MutualPairCorr
  0.88AMFFX American MutualPairCorr
  0.94RNCCX American Funds IncomePairCorr
  0.89AMEFX Income FundPairCorr
  0.91RNGGX New Economy FundPairCorr
  0.91RNGFX New Economy FundPairCorr
  0.91RNGHX New Economy FundPairCorr
  0.9RNGBX New Economy FundPairCorr
  0.9RNGAX New Economy FundPairCorr
  0.91RNGEX New Economy FundPairCorr
  0.91RNGCX New Economy FundPairCorr
  0.76AMHIX American High IncomePairCorr
  0.78TEBCX Tax Exempt BondPairCorr
  0.76TECCX Tax Exempt FundPairCorr
  0.75TEAFX Tax Exempt BondPairCorr
  0.94FPTPX American Funds ConsePairCorr
  0.74TECFX Tax Exempt FundPairCorr
  0.74TEFEX Tax Exempt FundPairCorr
  0.91RNNEX New Economy FundPairCorr
  0.9CDJAX American Funds CollegePairCorr
  0.92AMPCX Amcap Fund ClassPairCorr
  0.94AMPFX Amcap Fund ClassPairCorr
  0.92RNPBX New PerspectivePairCorr
  0.92RNPAX New PerspectivePairCorr
  0.91RNPHX New PerspectivePairCorr
  0.91RNPGX New PerspectivePairCorr
  0.92RNPCX New PerspectivePairCorr
  0.91RNPFX New PerspectivePairCorr
  0.92RNPEX New PerspectivePairCorr
  0.88AMRMX American MutualPairCorr
  0.88AMRFX American MutualPairCorr
  0.73RNRPX American Funds RetirementPairCorr
  0.84AMUSX Us Government SecuritiesPairCorr
  0.67TEPCX American Funds TaxPairCorr
  0.63TEPAX American Funds TaxPairCorr
  0.87RNWFX New World FundPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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