Sp Smallcap Correlations

SMLKX Fund

USD 17.88 1.37 7.12%

The current 90-days correlation between Sp Smallcap Index and Shelton Emerging Markets is 0.41 (i.e., Very 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

Modest diversification

The correlation between Sp Smallcap Index and DJI is 0.24 (i.e., Modest 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

0.92	NQQQX	Shelton Funds	Pair Corr
0.94	NASDX	Nasdaq 100 Index	Pair Corr
0.9	EQTKX	Shelton E Value	Pair Corr
0.94	EQTIX	Shelton E Value	Pair Corr
0.92	NDXKX	Nasdaq 100 Index	Pair Corr
0.91	NEXIX	Shelton Green Alpha	Pair Corr
0.91	NEXTX	Shelton Green Alpha	Pair Corr
1.0	SMCIX	Sp Smallcap Index	Pair Corr
0.94	SPFIX	Sp 500 Index	Pair Corr
0.99	SPMIX	Sp Midcap Index	Pair Corr
0.99	MIDKX	Sp Midcap Index	Pair Corr
0.99	VSMAX	Vanguard Small Cap	Pair Corr
0.99	VSCIX	Vanguard Small Cap	Pair Corr
0.99	VSCPX	Vanguard Small Cap	Pair Corr
0.96	NAESX	Vanguard Small Cap	Pair Corr
1.0	FSSNX	Fidelity Small Cap	Pair Corr
1.0	DFSTX	Us Small Cap	Pair Corr
0.93	PASVX	T Rowe Price	Pair Corr
0.98	PRVIX	T Rowe Price	Pair Corr
0.93	TRZVX	T Rowe Price	Pair Corr
0.98	PRSVX	T Rowe Price	Pair Corr
0.83	WRHIX	Ivy High Income	Pair Corr
0.81	WHIAX	Ivy High Income	Pair Corr
0.82	IHIFX	Ivy High Income	Pair Corr
0.78	IVHIX	Ivy High Income	Pair Corr

Moving against SMLKX Mutual Fund

0.78	CAUKX	Us Government Securities	Pair Corr
0.78	CAUSX	Us Government Securities	Pair Corr
0.51	SISEX	Shelton International	Pair Corr
0.5	SISLX	Shelton International	Pair Corr
0.44	DEBIX	Shelton Tactical Credit	Pair Corr
0.43	DEBTX	Shelton Tactical Credit	Pair Corr
0.83	ANBEX	American Funds Strategic	Pair Corr
0.82	RGVAX	Us Government Securities	Pair Corr
0.77	ACCSX	Access Capital Munity	Pair Corr
0.73	FXICX	Fixed Income Shares	Pair Corr
0.66	VEDIX	Vanguard Extended Steady Growth	Pair Corr
0.62	LIIAX	Columbia Porate Income	Pair Corr
0.62	SRINX	Columbia Porate Income	Pair Corr
0.48	GMOOX	Gmo Global Asset	Pair Corr

Related Correlations Analysis

	EMSLX	EMSQX	CFNTX	NQQQX	NASDX	EQTKX	EQTIX	NDXKX	NEXIX	NEXTX
EMSLX		1.0	0.2	0.0	-0.04	0.07	0.03	0.0	-0.08	-0.08	EMSLX
EMSQX	1.0		0.2	0.0	-0.04	0.06	0.02	-0.01	-0.09	-0.09	EMSQX
CFNTX	0.2	0.2		0.24	0.28	0.26	0.31	0.24	0.17	0.17	CFNTX
NQQQX	0.0	0.0	0.24		0.94	0.97	0.93	1.0	0.95	0.95	NQQQX
NASDX	-0.04	-0.04	0.28	0.94		0.91	0.97	0.94	0.9	0.9	NASDX
EQTKX	0.07	0.06	0.26	0.97	0.91		0.95	0.97	0.96	0.96	EQTKX
EQTIX	0.03	0.02	0.31	0.93	0.97	0.95		0.93	0.9	0.9	EQTIX
NDXKX	0.0	-0.01	0.24	1.0	0.94	0.97	0.93		0.95	0.95	NDXKX
NEXIX	-0.08	-0.09	0.17	0.95	0.9	0.96	0.9	0.95		1.0	NEXIX
NEXTX	-0.08	-0.09	0.17	0.95	0.9	0.96	0.9	0.95	1.0		NEXTX
	EMSLX	EMSQX	CFNTX	NQQQX	NASDX	EQTKX	EQTIX	NDXKX	NEXIX	NEXTX

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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

EMSQX	+ 1.0	EMSLX
NDXKX	+ 1.0	NQQQX
NEXTX	+ 1.0	NEXIX
EQTKX	+ 0.97	NQQQX
EQTIX	+ 0.97	NASDX
NDXKX	+ 0.97	EQTKX

High negative correlations

NEXTX	- 0.09	EMSQX
NEXIX	- 0.09	EMSQX
NEXTX	- 0.08	EMSLX
NEXIX	- 0.08	EMSLX
NASDX	- 0.04	EMSQX
NASDX	- 0.04	EMSLX

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
EMSLX	0.88	0.00	0.00	(0.16)	0.00	0.00	1.63	(2.30)	4.87
EMSQX	0.88	0.01	0.00	(0.15)	0.00	0.00	1.61	(2.33)	4.86
CFNTX	0.15	(0.01)	0.60	0.34	0.18	(0.19)	0.29	(0.38)	0.95
NQQQX	1.23	(0.10)	0.00	(0.25)	0.00	0.00	1.67	(2.99)	7.88
NASDX	1.16	(0.20)	0.00	(1.37)	0.00	0.00	1.67	(2.80)	6.10
EQTKX	0.79	(0.08)	0.00	(0.26)	0.00	0.00	1.24	(1.94)	6.08
EQTIX	0.71	(0.13)	0.00	(1.03)	0.00	0.00	1.16	(1.55)	3.54
NDXKX	1.24	(0.11)	0.00	(0.25)	0.00	0.00	1.70	(2.98)	7.89
NEXIX	1.00	(0.09)	0.00	(0.26)	0.00	0.00	1.54	(2.24)	7.20
NEXTX	1.00	(0.09)	0.00	(0.26)	0.00	0.00	1.55	(2.25)	7.20

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