Smallcap World Correlations

SCWFX Fund

USD 77.69 0.44 0.56%

The current 90-days correlation between Smallcap World and Amcap Fund Class is 0.83 (i.e., Very poor 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 0.91 (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

0.95	AMECX	Income Fund	Pair Corr
0.96	AMFCX	American Mutual	Pair Corr
0.96	AMFFX	American Mutual	Pair Corr
0.71	CUSEX	Capital Group Equity	Pair Corr
0.89	AMHIX	American High Income	Pair Corr
0.88	TEBCX	Tax Exempt Bond	Pair Corr
0.86	TECCX	Tax Exempt Fund	Pair Corr
0.86	TECFX	Tax Exempt Fund	Pair Corr
0.93	TEPCX	American Funds Tax	Pair Corr
0.94	TEPAX	American Funds Tax	Pair Corr
0.94	TEPFX	American Funds Tax	Pair Corr
0.95	EMGEX	Emerging Markets Growth	Pair Corr
0.77	ANBAX	American Funds Strategic	Pair Corr
0.71	ANBCX	American Funds Strategic	Pair Corr
0.89	ANCFX	American Funds Funda	Pair Corr
0.77	ANEFX	New Economy Fund	Pair Corr
0.83	ANFFX	New Economy Fund	Pair Corr
0.95	EMRGX	Emerging Markets Growth	Pair Corr
0.85	NPFCX	New Perspective	Pair Corr
0.85	NPFFX	New Perspective	Pair Corr
0.79	CWBFX	Capital World Bond	Pair Corr
0.79	CWBCX	Capital World Bond	Pair Corr
0.87	PGGAX	American Funds Global	Pair Corr
0.94	PGGFX	American Funds Global	Pair Corr
0.81	ANWPX	New Perspective	Pair Corr
0.98	BALFX	American Balanced	Pair Corr
0.95	BALCX	American Balanced	Pair Corr
0.95	CWGIX	Capital World Growth	Pair Corr
0.97	CWGFX	Capital World Growth	Pair Corr
0.95	WSHFX	Washington Mutual	Pair Corr
0.9	WSHCX	Washington Mutual	Pair Corr
0.97	FAATX	American Funds 2010	Pair Corr
0.98	FAETX	American Funds 2030	Pair Corr

Related Correlations Analysis

	AMECX	AMFCX	AMFFX	CUSEX	AMHIX	TEBCX	TECCX	TECFX	AMPCX	AMPFX
AMECX		0.96	0.96	0.65	0.94	0.93	0.92	0.92	-0.34	-0.3	AMECX
AMFCX	0.96		1.0	0.64	0.93	0.93	0.92	0.93	-0.23	-0.19	AMFCX
AMFFX	0.96	1.0		0.64	0.93	0.93	0.92	0.93	-0.24	-0.19	AMFFX
CUSEX	0.65	0.64	0.64		0.54	0.53	0.51	0.51	0.13	0.18	CUSEX
AMHIX	0.94	0.93	0.93	0.54		1.0	0.99	0.99	-0.42	-0.39	AMHIX
TEBCX	0.93	0.93	0.93	0.53	1.0		0.99	0.99	-0.42	-0.39	TEBCX
TECCX	0.92	0.92	0.92	0.51	0.99	0.99		1.0	-0.43	-0.4	TECCX
TECFX	0.92	0.93	0.93	0.51	0.99	0.99	1.0		-0.43	-0.4	TECFX
AMPCX	-0.34	-0.23	-0.24	0.13	-0.42	-0.42	-0.43	-0.43		1.0	AMPCX
AMPFX	-0.3	-0.19	-0.19	0.18	-0.39	-0.39	-0.4	-0.4	1.0		AMPFX
	AMECX	AMFCX	AMFFX	CUSEX	AMHIX	TEBCX	TECCX	TECFX	AMPCX	AMPFX

Please upgrade your account to get full access to Macroaxis premium features

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

AMFFX	+ 1.0	AMFCX
TEBCX	+ 1.0	AMHIX
TECFX	+ 1.0	TECCX
AMPFX	+ 1.0	AMPCX
TECCX	+ 0.99	AMHIX
TECFX	+ 0.99	AMHIX

High negative correlations

AMPCX	- 0.43	TECFX
AMPCX	- 0.43	TECCX
AMPCX	- 0.42	TEBCX
AMPCX	- 0.42	AMHIX
AMPFX	- 0.4	TECFX
AMPFX	- 0.4	TECCX

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
AMECX	0.31	0.16	0.19	(1.79)	0.00	(0.39)	0.78	(0.58)	1.97
AMFCX	0.44	0.06	0.04	0.17	0.44	(0.46)	0.87	(0.77)	3.21
AMFFX	0.44	0.06	0.05	0.18	0.44	(0.46)	0.87	(0.77)	3.18
CUSEX	0.73	0.16	0.16	0.32	0.58	(0.86)	1.21	(1.23)	11.29
AMHIX	0.09	0.03	(0.33)	(1.50)	0.00	(0.12)	0.20	(0.13)	0.79
TEBCX	0.07	0.02	(0.38)	7.06	0.00	(0.11)	0.16	(0.08)	0.56
TECCX	0.07	0.02	(0.40)	(9.36)	0.00	(0.10)	0.18	(0.12)	0.66
TECFX	0.07	0.02	(0.39)	(10.73)	0.00	(0.10)	0.18	(0.12)	0.66
AMPCX	0.66	(0.05)	(0.06)	0.02	0.92	(0.67)	1.29	(1.80)	4.28
AMPFX	0.66	(0.05)	(0.06)	0.03	0.94	(0.66)	1.29	(1.78)	4.27

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2026 Macroaxis LLC