Small Cap Correlations

Mutual Funds . USA . 
Fund . Small Cap Core
SCRYX Fund  USD 14.38  0.02  0.14%   
The current 90-days correlation between Small Cap Core and Vanguard Mid Cap Index is 0.06 (i.e., Significant 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

Significant diversification

The correlation between Small Cap Core and DJI is 0.05 (i.e., Significant 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 manufacturing.

Moving together with Small Mutual Fund

  0.96SCAVX Ab Small CapPairCorr
  0.96SCCVX Ab Small CapPairCorr
  1.0SCRSX Small Cap CorePairCorr
  1.0SCRZX Small Cap CorePairCorr
  0.96SCYVX Ab Small CapPairCorr
  0.84APGZX Ab Large CapPairCorr
  0.84APGYX Ab Large CapPairCorr
  0.89APGAX Ab Large CapPairCorr
  0.84APGCX Ab Large CapPairCorr

Moving against Small Mutual Fund

  0.51ANAGX Ab Global BondPairCorr
  0.51ANAIX Ab Global BondPairCorr
  0.5STHYX Ab Sustainable ThematicPairCorr
  0.49ANAZX Ab Global BondPairCorr
  0.47ANAYX Ab Global BondPairCorr
  0.47STHAX Ab Sustainable ThematicPairCorr
  0.38AMNCX Ab Minnesota PortfolioPairCorr
  0.38ANJCX Ab New JerseyPairCorr
  0.37ANYCX Ab New YorkPairCorr
  0.33AOHCX Ab Ohio PortfolioPairCorr
  0.32AMNAX Ab Minnesota PortfolioPairCorr
  0.32ANJAX Ab New JerseyPairCorr
  0.32ANMCX New York MunicipalPairCorr
  0.4CIAGX Ab Centrated InternaPairCorr
  0.39CIGYX Ab Centrated InternaPairCorr
  0.38AAZCX Ab Arizona PortfolioPairCorr
  0.34AAZAX Ab Arizona PortfolioPairCorr
  0.32ARECX Ab Global RealPairCorr

Related Correlations Analysis

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.
High positive correlations   
VIIIX
+ 1.0
VINIX
VINIX
+ 0.99
VMCIX
VIIIX
+ 0.99
VMCIX
VTSNX
+ 0.41
VBTIX
  
High negative correlations   
VIIIX
- 0.71
VBTIX
VINIX
- 0.71
VBTIX
VBTIX
- 0.69
VMCIX
VTSNX
- 0.07
VMCIX
VIIIX
- 0.02
VTSNX
VTSNX
- 0.02
VINIX

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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