Sp Smallcap Correlations

SMLKX Fund

USD 21.35 0.12 0.57%

The current 90-days correlation between Sp Smallcap Index and Artisan High Income is 0.03 (i.e., Significant 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 weak diversification

The correlation between Sp Smallcap Index and DJI is 0.55 (i.e., Very weak 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 industry.

Moving together with SMLKX Mutual Fund

0.61	EMSQX	Shelton Emerging Markets	Pair Corr
0.78	NQQQX	Shelton Funds	Pair Corr
0.86	NASDX	Nasdaq 100 Index	Pair Corr
0.87	NDXKX	Nasdaq 100 Index	Pair Corr
0.8	NEXIX	Shelton Green Alpha	Pair Corr
0.69	NEXTX	Shelton Green Alpha	Pair Corr
0.99	SMCIX	Sp Smallcap Index	Pair Corr
0.79	SPFIX	Sp 500 Index	Pair Corr
0.87	SPMIX	Sp Midcap Index	Pair Corr
0.98	MIDKX	Sp Midcap Index	Pair Corr
0.91	SPXKX	Sp 500 Index	Pair Corr
0.8	PASVX	T Rowe Price	Pair Corr
0.8	PRVIX	T Rowe Price	Pair Corr
0.8	TRZVX	T Rowe Price	Pair Corr
0.8	PRSVX	T Rowe Price	Pair Corr

Moving against SMLKX Mutual Fund

0.68	CBHAX	Victory Cemp Market	Pair Corr
0.56	UIPIX	Ultrashort Mid Cap	Pair Corr
0.5	PYLMX	Payden Limited Maturity	Pair Corr
0.49	GSCAX	Goldman Sachs Modity	Pair Corr
0.49	PSDSX	Palmer Square Ultra	Pair Corr

Related Correlations Analysis

	ARTFX	SEIYX	MRHYX	LSYFX	TAHFX	PHDTX	PBHAX
ARTFX		0.96	0.94	0.98	0.96	0.94	0.9	ARTFX
SEIYX	0.96		0.9	0.96	0.94	0.91	0.9	SEIYX
MRHYX	0.94	0.9		0.94	0.94	0.97	0.83	MRHYX
LSYFX	0.98	0.96	0.94		0.94	0.92	0.87	LSYFX
TAHFX	0.96	0.94	0.94	0.94		0.95	0.93	TAHFX
PHDTX	0.94	0.91	0.97	0.92	0.95		0.85	PHDTX
PBHAX	0.9	0.9	0.83	0.87	0.93	0.85		PBHAX
	ARTFX	SEIYX	MRHYX	LSYFX	TAHFX	PHDTX	PBHAX

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Risk-Adjusted Indicators

There is a big difference between SMLKX 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
ARTFX	0.12	0.01	(0.04)	0.44	0.00	(0.18)	0.44	(0.22)	1.10
SEIYX	0.16	0.02	(0.01)	0.34	0.00	(0.28)	0.39	(0.20)	1.17
MRHYX	0.11	0.01	(0.03)	0.40	0.00	(0.15)	0.24	(0.24)	0.59
LSYFX	0.13	0.02	(0.01)	0.26	0.00	(0.24)	0.52	(0.20)	1.43
TAHFX	0.14	0.01	(0.04)	0.27	0.05	(0.22)	0.37	(0.25)	1.22
PHDTX	0.11	0.01	(0.06)	0.18	0.06	(0.14)	0.22	(0.23)	0.79
PBHAX	0.13	0.01	(0.04)	0.20	0.00	(0.29)	0.42	(0.21)	0.84

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