Small-cap Growth Correlations

Mutual Funds . USA . 
Fund . Small Cap Growth Profund
SGPIX Fund  USD 122.02  1.96  1.63%   
The current 90-days correlation between Small Cap Growth and Small Cap Value Profund is 0.97 (i.e., Almost no diversification). The correlation of Small-cap Growth 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 Growth Correlation With Market

Very poor diversification

The correlation between Small Cap Growth Profund 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 Cap Growth Profund 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 Growth Profund. 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 gross domestic product.

Moving together with Small-cap Mutual Fund

  0.78TEPIX Technology UltrasectorPairCorr
  0.78TEPSX Technology UltrasectorPairCorr
  0.84LGPIX Large Cap GrowthPairCorr
  0.84LGPSX Profunds Large CapPairCorr
  0.85OTPIX Nasdaq 100 ProfundPairCorr
  0.85OTPSX Nasdaq 100 ProfundPairCorr
  0.94MLPSX Mid Cap ValuePairCorr
  0.94MLPIX Mid Cap ValuePairCorr
  0.8ENPSX Oil Gas UltrasectorPairCorr
  0.8ENPIX Oil Gas UltrasectorPairCorr
  0.79BTCFX Bitcoin Strategy ProfundPairCorr
  0.68PHPIX Pharmaceuticals UltrasectorPairCorr
  0.68PHPSX Pharmaceuticals UltrasectorPairCorr
  0.84INPIX Internet UltrasectorPairCorr
  0.84INPSX Internet UltrasectorPairCorr
  0.87ULPIX Ultrabull ProfundPairCorr
  0.87ULPSX Ultrabull ProfundPairCorr
  0.86WCPIX Mobile TelecommunicatioPairCorr
  0.86WCPSX Mobile TelecommunicatioPairCorr
  0.84CYPSX Consumer ServicesPairCorr
  0.84CYPIX Consumer ServicesPairCorr
  0.97SVPIX Small Cap ValuePairCorr
  0.97SVPSX Small Cap ValuePairCorr
  0.64RRPSX Rising Rates OpportunityPairCorr
  0.97UMPSX Ultramid Cap ProfundPairCorr
  0.97UMPIX Ultramid Cap ProfundPairCorr

Moving against Small-cap Mutual Fund

  0.96UIPIX Ultrashort Mid CapPairCorr
  0.96UIPSX Ultrashort Mid CapPairCorr
  0.88BRPIX Bear Profund BearPairCorr
  0.88BRPSX Bear Profund BearPairCorr
  0.65UKPSX Ultrashort Japan ProfundPairCorr
  0.65UKPIX Ultrashort Japan ProfundPairCorr
  0.63GVPIX Us Government PlusPairCorr
  0.63GVPSX Us Government PlusPairCorr
  0.63FDPSX Falling Dollar ProfundPairCorr
  0.62FDPIX Falling Dollar ProfundPairCorr
  0.44UNPIX UltrainternationalPairCorr
  0.44UNPSX UltrainternationalPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Small-cap Mutual Fund performing well and Small-cap Growth 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 Growth'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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