Sp Smallcap Correlations

SMCIX Fund

USD 22.13 0.11 0.49%

The current 90-days correlation between Sp Smallcap Index and Ips Strategic Capital is 0.37 (i.e., Weak diversification). The correlation of Sp Smallcap 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.

Sp Smallcap Correlation With Market

Very poor diversification

The correlation between Sp Smallcap Index 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 Sp Smallcap Index 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 Sp Smallcap Index. 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 SMCIX Mutual Fund

0.97	EMSLX	Shelton Emerging Markets	Pair Corr
0.97	EMSQX	Shelton Emerging Markets	Pair Corr
0.82	NQQQX	Shelton Funds	Pair Corr
0.86	NASDX	Nasdaq 100 Index	Pair Corr
0.89	EQTKX	Shelton E Value	Pair Corr
0.89	EQTIX	Shelton E Value	Pair Corr
0.87	SISEX	Shelton International	Pair Corr
0.87	SISLX	Shelton International	Pair Corr
1.0	SMLKX	Sp Smallcap Index	Pair Corr
0.87	DEBTX	Shelton Tactical Credit	Pair Corr
0.87	DEBIX	Shelton Tactical Credit	Pair Corr
0.95	SPFIX	Sp 500 Index	Pair Corr
0.99	SPMIX	Sp Midcap Index	Pair Corr
0.99	MIDKX	Sp Midcap Index	Pair Corr
0.95	SPXKX	Sp 500 Index	Pair Corr
0.91	VSMAX	Vanguard Small Cap	Pair Corr
0.91	VSCIX	Vanguard Small Cap	Pair Corr
0.91	VSCPX	Vanguard Small Cap	Pair Corr
0.91	NAESX	Vanguard Small Cap	Pair Corr
0.9	FSSNX	Fidelity Small Cap	Pair Corr
0.94	DFSTX	Us Small Cap	Pair Corr
0.94	FTHSX	Fuller Thaler Behavioral	Pair Corr
0.94	FTHNX	Fuller Thaler Behavioral	Pair Corr
0.91	PASVX	T Rowe Price	Pair Corr
0.91	PRVIX	T Rowe Price	Pair Corr
0.78	VTSAX	Vanguard Total Stock	Pair Corr
0.79	VFIAX	Vanguard 500 Index	Pair Corr
0.82	VTSMX	Vanguard Total Stock	Pair Corr
0.82	VSMPX	Vanguard Total Stock	Pair Corr
0.82	VITSX	Vanguard Total Stock	Pair Corr
0.78	VSTSX	Vanguard Total Stock	Pair Corr
0.82	VTIAX	Vanguard Total Inter	Pair Corr
0.79	VFINX	Vanguard 500 Index	Pair Corr

Moving against SMCIX Mutual Fund

0.46	CAUKX	Us Government Securities	Pair Corr
0.38	CAUSX	Us Government Securities	Pair Corr

Related Correlations Analysis

	HSSCX	ARRFX	RPXFX	HSSIX	FONPX	HSSAX	MMCFX	DEBTX	EAAAX	IPSAX
HSSCX		0.81	0.81	0.93	0.71	1.0	0.23	0.7	0.84	0.37	HSSCX
ARRFX	0.81		0.94	0.82	0.78	0.81	-0.03	0.81	0.89	0.06	ARRFX
RPXFX	0.81	0.94		0.81	0.77	0.82	0.19	0.7	0.81	0.29	RPXFX
HSSIX	0.93	0.82	0.81		0.71	0.93	0.19	0.74	0.86	0.31	HSSIX
FONPX	0.71	0.78	0.77	0.71		0.71	0.32	0.7	0.85	0.22	FONPX
HSSAX	1.0	0.81	0.82	0.93	0.71		0.23	0.7	0.84	0.37	HSSAX
MMCFX	0.23	-0.03	0.19	0.19	0.32	0.23		-0.22	-0.01	0.71	MMCFX
DEBTX	0.7	0.81	0.7	0.74	0.7	0.7	-0.22		0.9	-0.03	DEBTX
EAAAX	0.84	0.89	0.81	0.86	0.85	0.84	-0.01	0.9		0.12	EAAAX
IPSAX	0.37	0.06	0.29	0.31	0.22	0.37	0.71	-0.03	0.12		IPSAX
	HSSCX	ARRFX	RPXFX	HSSIX	FONPX	HSSAX	MMCFX	DEBTX	EAAAX	IPSAX

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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

HSSAX	+ 1.0	HSSCX
RPXFX	+ 0.94	ARRFX
HSSIX	+ 0.93	HSSCX
HSSAX	+ 0.93	HSSIX
EAAAX	+ 0.9	DEBTX
EAAAX	+ 0.89	ARRFX

High negative correlations

DEBTX	- 0.22	MMCFX
IPSAX	- 0.03	DEBTX
MMCFX	- 0.03	ARRFX
EAAAX	- 0.01	MMCFX

Risk-Adjusted Indicators

There is a big difference between SMCIX Mutual Fund performing well and Sp Smallcap 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 Sp Smallcap'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
HSSCX	1.16	0.05	0.02	0.16	1.36	(1.25)	2.52	(2.93)	6.59
ARRFX	0.77	0.19	0.21	0.45	0.33	(1.06)	1.45	(1.26)	14.22
RPXFX	0.70	0.11	0.09	0.23	0.70	(0.79)	1.30	(1.57)	11.78
HSSIX	1.15	(0.03)	0.00	0.04	1.37	(1.22)	2.53	(2.90)	6.59
FONPX	0.06	0.00	(0.49)	(1.46)	0.00	(0.14)	0.21	(0.11)	0.43
HSSAX	1.16	0.05	0.02	0.16	1.36	(1.22)	2.54	(2.90)	6.57
MMCFX	0.80	(0.03)	(0.05)	0.01	1.00	(0.82)	1.79	(1.55)	4.79
DEBTX	0.16	0.01	(0.24)	0.24	0.10	(0.21)	0.39	(0.30)	0.88
EAAAX	0.38	0.08	0.09	0.22	0.14	(0.45)	1.05	(0.72)	2.40
IPSAX	0.43	0.02	(0.02)	0.11	0.44	(0.49)	0.79	(0.90)	4.16

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