Small Company Correlations

Mutual Funds . USA . 
Fund . Small Pany Value
SCVFX Fund  USD 36.07  0.12  0.33%   
The current 90-days correlation between Small Pany Value and Nebraska Municipal Fund is -0.28 (i.e., Very good diversification). The correlation of Small Company 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 Company Correlation With Market

Very poor diversification

The correlation between Small Pany Value and DJI is 0.88 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Small Pany Value 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 Pany Value. 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 census.

Moving together with Small Mutual Fund

  0.69SADAX Wells Fargo UltraPairCorr
  0.67SADIX Wells Fargo UltraPairCorr
  0.74SSTHX Wells Fargo ShortPairCorr
  0.94WSCGX Small Pany GrowthPairCorr
  0.98WSCOX Wells Fargo AdvantagePairCorr
  0.87STAFX Wells Fargo LargePairCorr
  0.87STDFX Wells Fargo LargePairCorr
  0.93WSMCX Small Pany GrowthPairCorr
  0.87STOFX Wells Fargo LargePairCorr
  0.87STNFX Wells Fargo LargePairCorr
  0.96STSAX Wells Fargo MonPairCorr
  0.74STYIX Wells Fargo ShortPairCorr
  0.97SCNSX Wells Fargo MonPairCorr
  0.97SCSDX Wells Fargo MonPairCorr

Moving against Small Mutual Fund

  0.33WSGIX Wells Fargo ShortPairCorr
  0.65MNTRX Total Return BondPairCorr
  0.64STYAX Wells Fargo IncomePairCorr
  0.35MNSGX Wells Fargo ShortPairCorr

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   
BXDCX
+ 0.87
BSGAX
KMKCX
+ 0.79
APDOX
BXDCX
+ 0.78
APDOX
BSGAX
+ 0.42
NEITX
BSGAX
+ 0.42
APDOX
KMKCX
+ 0.42
BXDCX
  
High negative correlations   
KMKCX
- 0.48
NEITX
APDOX
- 0.26
NEITX

Risk-Adjusted Indicators

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