Small Cap Correlations

Mutual Funds . USA . 
Fund . Small Cap Core
SCRZX Fund  USD 11.67  0.10  0.85%   
The current 90-days correlation between Small Cap Core and Qs Small Capitalization is -0.04 (i.e., Good 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

Good diversification

The correlation between Small Cap Core and DJI is -0.05 (i.e., Good 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 nation.

Moving together with Small Mutual Fund

  0.74GCEAX Ab Global EPairCorr
  0.8GCECX Ab Global EPairCorr
  0.88GCEYX Ab Global EPairCorr
  0.62AMTZX Ab All MarketPairCorr
  0.61AMTYX Ab All MarketPairCorr
  0.62AMTOX Ab All MarketPairCorr
  0.96STEZX International StrategicPairCorr
  0.91STESX International StrategicPairCorr
  0.87SCAVX Ab Small CapPairCorr
  0.87SCCVX Ab Small CapPairCorr
  1.0SCRSX Small Cap CorePairCorr
  1.0SCRYX Small Cap CorePairCorr
  0.87SCYVX Ab Small CapPairCorr
  0.96APGYX Ab Large CapPairCorr
  0.96APGCX Ab Large CapPairCorr
  0.97CHCLX Ab Discovery GrowthPairCorr
  0.96CHCIX Ab Discovery GrowthPairCorr
  0.96CHCCX Ab Discovery GrowthPairCorr
  0.96CHCYX Ab Discovery GrowthPairCorr
  0.92ASCLX Ab Select LongshortPairCorr
  0.95ASILX Ab Select LongshortPairCorr
  0.97ASLAX Ab Select LongshortPairCorr
  0.75ABASX Ab Discovery ValuePairCorr

Moving against Small Mutual Fund

  0.48SUTZX Ab Sustainable ThematicPairCorr
  0.43SUTAX Ab Sustainable ThematicPairCorr
  0.43SUTCX Ab Sustainable ThematicPairCorr
  0.39ANACX Ab Global BondPairCorr
  0.32ANAIX Ab Global BondPairCorr
  0.31ANAZX Ab Global BondPairCorr
  0.47ABNCX 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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