Small Cap Correlations

Mutual Funds . USA . 
Fund . Small Cap Core
SCRSX Fund  USD 11.69  0.06  0.52%   
The current 90-days correlation between Small Cap Core and T Rowe Price is 0.57 (i.e., Very weak diversification). The correlation of Small 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.

Small Cap Correlation With Market

Very weak diversification

The correlation between Small Cap Core and DJI is 0.58 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Small Cap Core and DJI in the same portfolio, assuming nothing else is changed.
  
Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Small Cap Core. 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 Small Mutual Fund

  0.81GCEAX Ab Global EPairCorr
  0.88GCECX Ab Global EPairCorr
  0.81GCEYX Ab Global EPairCorr
  0.63AMTAX Ab All MarketPairCorr
  0.7AMTZX Ab All MarketPairCorr
  0.69AMTYX Ab All MarketPairCorr
  0.69AMTOX Ab All MarketPairCorr
  0.96STEYX International StrategicPairCorr
  0.96STEZX International StrategicPairCorr
  0.96STESX International StrategicPairCorr
  0.88SCAVX Ab Small CapPairCorr
  0.93SCCVX Ab Small CapPairCorr
  1.0SCRYX Small Cap CorePairCorr
  1.0SCRZX Small Cap CorePairCorr
  0.93SCYVX Ab Small CapPairCorr
  0.95APGZX Ab Large CapPairCorr
  0.95APGYX Ab Large CapPairCorr
  0.96APGAX Ab Large CapPairCorr
  0.95APGCX Ab Large CapPairCorr
  0.97CHCLX Ab Discovery GrowthPairCorr
  0.96CHCIX Ab Discovery GrowthPairCorr
  0.96CHCCX Ab Discovery GrowthPairCorr
  0.96CHCYX Ab Discovery GrowthPairCorr
  0.73CHCZX Ab Discovery GrowthPairCorr

Moving against Small Mutual Fund

  0.43ANACX Ab Global BondPairCorr
  0.36ANAZX Ab Global BondPairCorr
  0.36ANAIX Ab Global BondPairCorr
  0.5SUTAX Ab Sustainable ThematicPairCorr
  0.5SUTCX Ab Sustainable ThematicPairCorr
  0.49SUTZX Ab Sustainable ThematicPairCorr
  0.46ABNCX Ab Bond InflationPairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

There is a big difference between Small Mutual Fund performing well and Small 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 Small 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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