Small-cap Profund Correlations

Mutual Funds . USA . 
Fund . Small Cap Profund Small Cap
SLPIX Fund  USD 121.15  1.96  1.64%   
The current 90-days correlation between Small Cap Profund and Usaa Mutual Funds is 0.01 (i.e., Significant diversification). The correlation of Small-cap Profund 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 Profund Correlation With Market

Very poor diversification

The correlation between Small Cap Profund Small Cap and DJI is 0.87 (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 Profund Small Cap 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 Profund Small Cap. 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

  0.81TEPIX Technology UltrasectorPairCorr
  0.81TEPSX Technology UltrasectorPairCorr
  0.89LGPIX Large Cap GrowthPairCorr
  0.89LGPSX Profunds Large CapPairCorr
  0.89OTPIX Nasdaq 100 ProfundPairCorr
  0.89OTPSX Nasdaq 100 ProfundPairCorr
  0.98MLPSX Mid Cap ValuePairCorr
  0.97MLPIX Mid Cap ValuePairCorr
  0.76ENPSX Oil Gas UltrasectorPairCorr
  0.76ENPIX Oil Gas UltrasectorPairCorr
  0.83BTCFX Bitcoin Strategy ProfundPairCorr
  0.79PHPIX Pharmaceuticals UltrasectorPairCorr
  0.79PHPSX Pharmaceuticals UltrasectorPairCorr
  0.9INPIX Internet UltrasectorPairCorr
  0.9INPSX Internet UltrasectorPairCorr
  0.91ULPIX Ultrabull ProfundPairCorr
  0.91ULPSX Ultrabull ProfundPairCorr
  0.91WCPIX Mobile TelecommunicatioPairCorr
  0.91WCPSX Mobile TelecommunicatioPairCorr
  0.88CYPSX Consumer ServicesPairCorr
  0.88CYPIX Consumer ServicesPairCorr
  0.99SVPIX Small Cap ValuePairCorr
  0.99SVPSX Small Cap ValuePairCorr
  0.73RRPSX Rising Rates OpportunityPairCorr
  0.98UMPSX Ultramid Cap ProfundPairCorr
  0.98UMPIX Ultramid Cap ProfundPairCorr

Moving against Small-cap Mutual Fund

  0.97UIPIX Ultrashort Mid CapPairCorr
  0.97UIPSX Ultrashort Mid CapPairCorr
  0.91BRPIX Bear Profund BearPairCorr
  0.91BRPSX Bear Profund BearPairCorr
  0.73GVPSX Us Government PlusPairCorr
  0.72GVPIX Us Government PlusPairCorr
  0.65UKPSX Ultrashort Japan ProfundPairCorr
  0.65UKPIX Ultrashort Japan ProfundPairCorr
  0.73FDPSX Falling Dollar ProfundPairCorr
  0.72FDPIX Falling Dollar ProfundPairCorr
  0.57UNPIX UltrainternationalPairCorr
  0.57UNPSX 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 Profund 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 Profund'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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