Mid Capitalization Correlations

Mutual Funds USA . 
Fund . Mid Capitalization Portfolio
SMIPX Fund  USD 13.32  0.07  0.53%   
The current 90-days correlation between Mid Capitalization and Palm Valley Capital is 0.21 (i.e., Modest diversification). The correlation of Mid Capitalization 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.

Mid Capitalization Correlation With Market

Very poor diversification

The correlation between Mid Capitalization Portfolio 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 Mid Capitalization Portfolio 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 Mid Capitalization Portfolio. 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 inflation.

Moving together with MID Mutual Fund

  0.95SABAX Salient Alternative BetaPairCorr
  0.97SABIX Aggressive BalancedPairCorr
  0.97SABCX Salient Alternative BetaPairCorr
  0.95SAMAX Moderately AggressivePairCorr
  0.97SAMCX Salient Mlp FundPairCorr
  0.97SAMIX Moderately AggressivePairCorr
  0.97SSCCX Saratoga Small CapitPairCorr
  0.98SSCPX Small CapitalizationPairCorr
  0.97SSCYX Small CapitalizationPairCorr
  0.97SBCCX Moderately ServativePairCorr
  0.84SBHIX Health BiotchnologyPairCorr
  0.97SBMCX Moderate BalancedPairCorr
  0.97SBMIX Moderate BalancedPairCorr
  0.94STPAX Technology CommunicationsPairCorr
  0.98STPCX Technology CommunicationsPairCorr
  0.95STPIX Technology CommunicationsPairCorr
  0.95SCAAX Conservative BalancedPairCorr
  0.95SUMCX Conservative BalancedPairCorr
  0.84SHPAX Health BiotchnologyPairCorr
  0.92SHPCX Health BiotchnologyPairCorr
  0.81SIEYX International EquityPairCorr
  0.81SIECX International EquityPairCorr
  0.82SIEPX International EquityPairCorr
  1.0SLCVX Large Cap ValuePairCorr
  0.92SLGYX Large CapitalizationPairCorr
  1.0SLVCX Large Cap ValuePairCorr
  0.98SLVYX Large Cap ValuePairCorr
  0.95SMACX Moderately ConservativePairCorr
  0.98SMICX Moderately ConservativePairCorr
  0.95SMPAX Moderate BalancedPairCorr
  0.97LUNAX Conservative BalancedPairCorr
  0.98SPMAX Mid CapitalizationPairCorr
  0.85VIMAX Vanguard Mid CapPairCorr

Moving against MID Mutual Fund

  0.98SLGCX Large CapitalizationPairCorr
  0.96SPMCX Mid CapitalizationPairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

There is a big difference between MID Mutual Fund performing well and Mid Capitalization 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 Mid Capitalization'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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