Sp Smallcap Correlations

Mutual Funds . USA . 
Fund . Sp Smallcap Index
SMLKX Fund  USD 21.72  0.04  0.18%   
The current 90-days correlation between Sp Smallcap Index and Dreyfus Natural Resources is -0.02 (i.e., Good 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

Almost no diversification

The correlation between Sp Smallcap Index and DJI is 0.91 (i.e., Almost no 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

  0.96EMSLX Shelton Emerging MarketsPairCorr
  0.96EMSQX Shelton Emerging MarketsPairCorr
  0.62CFNTX California Tax FreePairCorr
  0.74NQQQX Shelton FundsPairCorr
  0.69NASDX Nasdaq 100 IndexPairCorr
  0.87EQTKX Shelton E ValuePairCorr
  0.86EQTIX Shelton E ValuePairCorr
  0.81NEXIX Shelton Green AlphaPairCorr
  0.82NEXTX Shelton Green AlphaPairCorr
  0.85SISEX Shelton InternationalPairCorr
  0.85SISLX Shelton InternationalPairCorr
  0.97SMCIX Sp Smallcap IndexPairCorr
  0.86DEBTX Shelton Tactical CreditPairCorr
  0.89DEBIX Shelton Tactical CreditPairCorr
  0.88SPFIX Sp 500 IndexPairCorr
  0.96SPMIX Sp Midcap IndexPairCorr
  0.99MIDKX Sp Midcap IndexPairCorr
  0.91SPXKX Sp 500 IndexPairCorr
  0.92VSMAX Vanguard Small CapPairCorr
  0.92VSCIX Vanguard Small CapPairCorr
  0.92VSCPX Vanguard Small CapPairCorr
  0.92NAESX Vanguard Small CapPairCorr
  0.92FSSNX Fidelity Small CapPairCorr
  0.92DFSTX Us Small CapPairCorr
  0.9FTHSX Fuller Thaler BehavioralPairCorr
  0.9FTHNX Fuller Thaler BehavioralPairCorr
  0.9PASVX T Rowe PricePairCorr
  0.87PRVIX T Rowe PricePairCorr
  0.76LIIAX Columbia Porate IncomePairCorr
  0.73SRINX Columbia Porate IncomePairCorr
  0.84WRHIX Ivy High IncomePairCorr
  0.86WHIAX Ivy High IncomePairCorr
  0.85IHIFX Ivy High IncomePairCorr
  0.84IVHIX Ivy High IncomePairCorr
  0.79VMLTX Vanguard Limited TermPairCorr
  0.81STRYX Pioneer Strategic IncomePairCorr
  0.85AMECX Income FundPairCorr

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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