Large Cap Correlations

Mutual Funds . USA . 
Fund . Large Cap Value
SLVYX Fund  USD 28.43  0.17  0.60%   
The current 90-days correlation between Large Cap Value and Aqr Large Cap is 0.82 (i.e., Very poor diversification). The correlation of Large Cap 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.

Large Cap Correlation With Market

Poor diversification

The correlation between Large Cap Value and DJI is 0.76 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Large Cap Value 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 Large Cap Value. 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 manufacturing.

Moving together with Large Mutual Fund

  0.94SABAX Salient Alternative BetaPairCorr
  0.93SABIX Aggressive BalancedPairCorr
  0.93SABCX Salient Alternative BetaPairCorr
  0.88SAMAX Moderately AggressivePairCorr
  0.93SAMCX Salient Mlp FundPairCorr
  0.93SAMIX Moderately AggressivePairCorr
  0.86SSCCX Small CapitalizationPairCorr
  0.87SSCPX Small CapitalizationPairCorr
  0.87SSCYX Small CapitalizationPairCorr
  0.94SBCCX Moderately ConservativePairCorr
  0.94SBMCX Moderate BalancedPairCorr
  0.94SBMIX Moderate BalancedPairCorr
  0.93STPAX Technology CommunicationsPairCorr
  0.93STPCX Technology CommunicationsPairCorr
  0.93STPIX Technology CommunicationsPairCorr
  0.9SCAAX Conservative BalancedPairCorr
  0.89SUMCX Conservative BalancedPairCorr
  0.8SFPCX Financial ServicesPairCorr
  0.8SFPAX Financial ServicesPairCorr
  0.75SFPIX Financial ServicesPairCorr
  0.88SLCGX Large CapitalizationPairCorr
  1.0SLCVX Large Cap ValuePairCorr
  0.84SLGCX Large CapitalizationPairCorr
  0.88SLGYX Large CapitalizationPairCorr
  1.0SLVCX Large Cap ValuePairCorr
  0.93SMACX Moderately ConservativePairCorr

Moving against Large Mutual Fund

  0.66SIBPX Investment Quality BondPairCorr
  0.42SBHIX Health BiotchnologyPairCorr
  0.4SHPCX Health BiotchnologyPairCorr
  0.39SHPAX Health BiotchnologyPairCorr
  0.68SQBAX Investment Quality BondPairCorr
  0.68SQBCX Investment Quality BondPairCorr
  0.6SMBCX Municipal Bond PortfolioPairCorr
  0.57SMBAX Municipal Bond PortfolioPairCorr
  0.53SMBPX Municipal Bond PortfolioPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Large Mutual Fund performing well and Large Cap 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 Large Cap'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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