Sp Smallcap Correlations

Mutual Funds . USA . 
Fund . Sp Smallcap Index
SMLKX Fund  USD 21.10  0.10  0.47%   
The current 90-days correlation between Sp Smallcap Index and Siit Equity Factor is 0.47 (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

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 state.

Moving together with SMLKX Mutual Fund

  0.98EMSLX Shelton Emerging MarketsPairCorr
  0.98EMSQX Shelton Emerging MarketsPairCorr
  0.82NQQQX Shelton FundsPairCorr
  0.86NASDX Nasdaq 100 IndexPairCorr
  0.88EQTKX Shelton E ValuePairCorr
  0.89EQTIX Shelton E ValuePairCorr
  0.88SISEX Shelton InternationalPairCorr
  0.88SISLX Shelton InternationalPairCorr
  1.0SMCIX Sp Smallcap IndexPairCorr
  0.87DEBTX Shelton Tactical CreditPairCorr
  0.88DEBIX Shelton Tactical CreditPairCorr
  0.95SPFIX Sp 500 IndexPairCorr
  0.99SPMIX Sp Midcap IndexPairCorr
  0.99MIDKX Sp Midcap IndexPairCorr
  0.95SPXKX Sp 500 IndexPairCorr
  0.91VSMAX Vanguard Small CapPairCorr
  0.91VSCIX Vanguard Small CapPairCorr
  0.91VSCPX Vanguard Small CapPairCorr
  0.91NAESX Vanguard Small CapPairCorr
  0.9FSSNX Fidelity Small CapPairCorr
  0.92DFSTX Us Small CapPairCorr
  0.94FTHSX Fuller Thaler BehavioralPairCorr
  0.94FTHNX Fuller Thaler BehavioralPairCorr
  0.91PASVX T Rowe PricePairCorr
  0.91PRVIX T Rowe PricePairCorr
  0.65PFN Pimco Income StrategyPairCorr
  0.75CIF Mfs Intermediate HighPairCorr

Moving against SMLKX Mutual Fund

  0.47CAUKX Us Government SecuritiesPairCorr
  0.4CAUSX Us Government SecuritiesPairCorr
  0.83XNBHX Neuberger Berman IntPairCorr
  0.72XDSMX Dreyfus StrategicPairCorr
  0.71XNXJX Nuveen New JerseyPairCorr

Related Correlations Analysis


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.

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