Small-cap Growth Correlations

Mutual Funds . USA . 
Fund . Small Cap Growth Profund
SGPSX Fund  USD 91.02  1.47  1.64%   
The current 90-days correlation between Small Cap Growth and Ab E Opportunities is 0.78 (i.e., Poor 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 state.

Moving together with Small-cap Mutual Fund

  0.78TEPIX Technology UltrasectorPairCorr
  0.78TEPSX Technology UltrasectorPairCorr
  0.83LGPIX Large Cap GrowthPairCorr
  0.83LGPSX Profunds Large CapPairCorr
  0.84OTPIX Nasdaq 100 ProfundPairCorr
  0.84OTPSX Nasdaq 100 ProfundPairCorr
  0.94MLPSX Mid Cap ValuePairCorr
  0.93MLPIX Mid Cap ValuePairCorr
  0.8ENPSX Oil Gas UltrasectorPairCorr
  0.8ENPIX Oil Gas UltrasectorPairCorr
  0.78BTCFX Bitcoin Strategy ProfundPairCorr
  0.67PHPIX Pharmaceuticals UltrasectorPairCorr
  0.67PHPSX Pharmaceuticals UltrasectorPairCorr
  0.83INPIX Internet UltrasectorPairCorr
  0.83INPSX Internet UltrasectorPairCorr
  0.87ULPIX Ultrabull ProfundPairCorr
  0.87ULPSX Ultrabull ProfundPairCorr
  0.85WCPIX Mobile TelecommunicatioPairCorr
  0.85WCPSX Mobile TelecommunicatioPairCorr
  0.83CYPSX Consumer ServicesPairCorr
  0.83CYPIX Consumer ServicesPairCorr
  0.96SVPIX Small Cap ValuePairCorr
  0.96SVPSX Small Cap ValuePairCorr
  0.62RRPSX Rising Rates OpportunityPairCorr
  0.96UMPSX Ultramid Cap ProfundPairCorr
  0.96UMPIX Ultramid Cap ProfundPairCorr

Moving against Small-cap Mutual Fund

  0.96UIPIX Ultrashort Mid CapPairCorr
  0.96UIPSX Ultrashort Mid CapPairCorr
  0.87BRPIX Bear Profund BearPairCorr
  0.87BRPSX Bear Profund BearPairCorr
  0.64UKPSX Ultrashort Japan ProfundPairCorr
  0.64UKPIX Ultrashort Japan ProfundPairCorr
  0.62GVPIX Us Government PlusPairCorr
  0.62GVPSX Us Government PlusPairCorr
  0.61FDPSX Falling Dollar ProfundPairCorr
  0.61FDPIX Falling Dollar ProfundPairCorr
  0.43UNPSX UltrainternationalPairCorr
  0.42UNPIX 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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