Mid Capitalization Correlations

SPMAX Fund

USD 10.29 0.32 3.21%

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 0.86 (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 nation.

Moving together with Mid Mutual Fund

0.86	SABAX	Salient Alternative Beta	Pair Corr
0.99	SABIX	Aggressive Balanced	Pair Corr
0.81	SABCX	Salient Alternative Beta	Pair Corr
0.97	SAMAX	Moderately Aggressive	Pair Corr
0.81	SAMCX	Salient Mlp Fund	Pair Corr
0.82	SAMIX	Moderately Aggressive	Pair Corr
0.72	SSCCX	Saratoga Small Capit	Pair Corr
0.95	SSCPX	Small Capitalization	Pair Corr
0.98	SSCYX	Small Capitalization	Pair Corr
0.84	SBHIX	Health Biotchnology	Pair Corr
0.81	SBMCX	Moderate Balanced	Pair Corr
0.81	SBMIX	Moderate Balanced	Pair Corr
0.97	STPAX	Technology Communications	Pair Corr
0.99	STPCX	Technology Communications	Pair Corr
0.84	STPIX	Technology Communications	Pair Corr
0.97	SCAAX	Conservative Balanced	Pair Corr
0.97	SUMCX	Conservative Balanced	Pair Corr
0.86	SHPAX	Health Biotchnology	Pair Corr
0.72	SHPCX	Health Biotchnology	Pair Corr
0.78	SLCVX	Large Cap Value	Pair Corr
0.95	SLGYX	Large Capitalization	Pair Corr
0.81	SLVCX	Large Cap Value	Pair Corr
0.79	SLVYX	Large Cap Value	Pair Corr
0.97	SMACX	Moderately Conservative	Pair Corr
0.81	SMICX	Moderately Conservative	Pair Corr
1.0	SMIPX	Mid Capitalization	Pair Corr
0.86	SMPAX	Moderate Balanced	Pair Corr
0.81	LUNAX	Conservative Balanced	Pair Corr
0.83	VIMAX	Vanguard Mid Cap	Pair Corr

Moving against Mid Mutual Fund

0.99	SLGCX	Large Capitalization	Pair Corr
0.81	SPMCX	Mid Capitalization	Pair Corr

Related Correlations Analysis

	SABAX	SABIX	SABCX	SAMAX	SAMCX	SAMIX	SSCCX	SSCPX	SSCYX	SBCCX
SABAX		0.87	0.94	0.84	0.94	0.94	0.96	0.84	0.86	0.97	SABAX
SABIX	0.87		0.81	0.97	0.82	0.82	0.72	0.96	0.98	0.79	SABIX
SABCX	0.94	0.81		0.79	1.0	1.0	0.92	0.82	0.81	0.96	SABCX
SAMAX	0.84	0.97	0.79		0.8	0.8	0.7	0.94	0.97	0.77	SAMAX
SAMCX	0.94	0.82	1.0	0.8		1.0	0.91	0.83	0.81	0.96	SAMCX
SAMIX	0.94	0.82	1.0	0.8	1.0		0.92	0.83	0.82	0.96	SAMIX
SSCCX	0.96	0.72	0.92	0.7	0.91	0.92		0.77	0.75	0.97	SSCCX
SSCPX	0.84	0.96	0.82	0.94	0.83	0.83	0.77		0.97	0.81	SSCPX
SSCYX	0.86	0.98	0.81	0.97	0.81	0.82	0.75	0.97		0.79	SSCYX
SBCCX	0.97	0.79	0.96	0.77	0.96	0.96	0.97	0.81	0.79		SBCCX
	SABAX	SABIX	SABCX	SAMAX	SAMCX	SAMIX	SSCCX	SSCPX	SSCYX	SBCCX

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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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
SABAX	0.61	0.08	0.08	0.20	0.39	(0.76)	1.02	(1.01)	10.09
SABIX	0.62	0.11	0.14	0.24	0.31	(0.77)	1.12	(1.00)	10.03
SABCX	0.69	0.19	0.11	(0.75)	0.46	(0.89)	1.22	(1.12)	10.49
SAMAX	0.57	0.11	0.07	0.49	0.37	(0.69)	0.99	(0.99)	9.99
SAMCX	0.64	0.19	0.12	(0.78)	0.35	(0.81)	1.14	(0.94)	10.34
SAMIX	0.60	0.17	0.12	(1.90)	0.29	(0.78)	1.02	(0.98)	9.92
SSCCX	1.45	0.30	0.10	0.34	1.03	(4.09)	3.45	(2.86)	15.76
SSCPX	1.13	0.22	0.19	0.30	0.91	(1.36)	2.33	(1.90)	11.83
SSCYX	1.19	0.27	0.17	0.79	0.97	(1.50)	2.42	(1.97)	13.96
SBCCX	0.57	0.18	0.17	21.50	0.00	(0.82)	0.93	(0.83)	10.83

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