Smallcap World Correlations

SCWFX Fund

USD 74.58 1.19 1.57%

The current 90-days correlation between Smallcap World and New World Fund is 0.53 (i.e., Very weak 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

Almost no diversification

The correlation between Smallcap World Fund and DJI is 0.92 (i.e., Almost no 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 World Market Map 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 price.

Moving together with Smallcap Mutual Fund

0.94	AMFCX	American Mutual	Pair Corr
0.95	AMFFX	American Mutual	Pair Corr
0.94	AMPCX	Amcap Fund Class	Pair Corr
0.94	AMPFX	Amcap Fund Class	Pair Corr
0.93	TEPFX	American Funds Tax	Pair Corr
0.93	EMRGX	Emerging Markets Growth	Pair Corr
0.97	NPFCX	New Perspective	Pair Corr
0.97	NPFFX	New Perspective	Pair Corr
0.96	ANWPX	New Perspective	Pair Corr
0.96	BALFX	American Balanced	Pair Corr
0.96	BALCX	American Balanced	Pair Corr
0.95	FAFWX	American Funds Retirement	Pair Corr
0.96	FAJTX	American Funds 2055	Pair Corr
0.96	FAOTX	American Funds 2020	Pair Corr
0.92	GWPFX	American Funds Growth	Pair Corr
0.95	FAWTX	American Funds 2060	Pair Corr
0.94	GFAFX	Growth Fund	Pair Corr
0.96	FBFWX	American Funds Retirement	Pair Corr
0.97	FCFWX	American Funds Retirement	Pair Corr
0.93	ABALX	American Balanced	Pair Corr
0.97	NWFFX	New World Fund	Pair Corr
0.95	NEWFX	New World Fund	Pair Corr
0.8	AFTEX	Tax Exempt Bond	Pair Corr
0.95	AGVEX	American Funds Global	Pair Corr
0.98	SMCWX	Smallcap World	Pair Corr
0.97	BLPFX	American Funds Balanced	Pair Corr
0.96	IGAAX	International Growth And	Pair Corr
0.98	IGIFX	International Growth And	Pair Corr
0.87	DWGCX	American Funds Developing	Pair Corr
0.83	SCWCX	American Fds Smallcap	Pair Corr
0.85	FSWFX	American Funds Smallcap	Pair Corr
0.85	FSFWX	American Funds Smallcap	Pair Corr
1.0	CSPFX	Smallcap World	Pair Corr
0.82	CSPAX	Smallcap World	Pair Corr
0.85	CSPEX	Smallcap World	Pair Corr
0.85	RSLCX	Smallcap World	Pair Corr
1.0	RLLGX	Smallcap World	Pair Corr

Moving against Smallcap Mutual Fund

0.6

ERH

Allspring Utilities And

Pair Corr

Related Correlations Analysis

	SMCWX	RLLGX	RSLAX	RMFGX	AMFFX	FNCFX	NFFFX	RNWGX	NEWFX	NWFFX
SMCWX		0.98	0.98	0.91	0.94	0.75	0.96	0.96	0.97	0.96	SMCWX
RLLGX	0.98		1.0	0.93	0.94	0.75	0.97	0.97	0.95	0.97	RLLGX
RSLAX	0.98	1.0		0.92	0.95	0.74	0.97	0.97	0.96	0.97	RSLAX
RMFGX	0.91	0.93	0.92		0.85	0.79	0.86	0.86	0.84	0.86	RMFGX
AMFFX	0.94	0.94	0.95	0.85		0.69	0.94	0.94	0.92	0.94	AMFFX
FNCFX	0.75	0.75	0.74	0.79	0.69		0.7	0.7	0.68	0.7	FNCFX
NFFFX	0.96	0.97	0.97	0.86	0.94	0.7		1.0	0.98	1.0	NFFFX
RNWGX	0.96	0.97	0.97	0.86	0.94	0.7	1.0		0.98	1.0	RNWGX
NEWFX	0.97	0.95	0.96	0.84	0.92	0.68	0.98	0.98		0.98	NEWFX
NWFFX	0.96	0.97	0.97	0.86	0.94	0.7	1.0	1.0	0.98		NWFFX
	SMCWX	RLLGX	RSLAX	RMFGX	AMFFX	FNCFX	NFFFX	RNWGX	NEWFX	NWFFX

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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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
SMCWX	0.76	0.15	0.14	0.60	0.58	(0.89)	1.46	(1.22)	6.57
RLLGX	0.75	0.10	0.12	0.16	0.59	(0.89)	1.46	(1.21)	6.37
RSLAX	0.77	0.11	0.13	0.17	0.57	(0.92)	1.46	(1.24)	7.47
RMFGX	0.50	0.00	(0.03)	0.04	0.61	(0.49)	0.85	(1.02)	3.20
AMFFX	0.57	0.13	0.11	(3.10)	0.52	(0.63)	0.87	(1.03)	7.65
FNCFX	0.32	0.06	0.05	0.27	0.08	(0.57)	0.83	(0.41)	2.43
NFFFX	0.63	0.18	0.24	0.34	0.26	(0.74)	1.61	(1.02)	7.09
RNWGX	0.63	0.18	0.24	0.34	0.26	(0.74)	1.60	(1.02)	7.06
NEWFX	0.64	0.20	0.25	1.05	0.29	(0.74)	1.60	(1.03)	7.07
NWFFX	0.63	0.18	0.24	0.33	0.27	(0.74)	1.60	(1.03)	7.09

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