Mid Capitalization Correlations

Mutual Funds . USA . 
Fund . Mid Capitalization Portfolio
SPMCX Fund  USD 5.88  0.07  1.20%   
The current 90-days correlation between Mid Capitalization and Ultra Short Fixed Income is 0.04 (i.e., Significant diversification). 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

Excellent diversification

The correlation between Mid Capitalization Portfolio and DJI is -0.69 (i.e., Excellent 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 services.

Moving together with MID Mutual Fund

  0.94SLGCX Large CapitalizationPairCorr

Moving against MID Mutual Fund

  0.96STPAX Technology CommunicationsPairCorr
  0.95STPCX Technology CommunicationsPairCorr
  0.92SBCCX Moderately ServativePairCorr
  0.92SCAAX Conservative BalancedPairCorr
  0.91SABIX Aggressive BalancedPairCorr
  0.91SAMAX Moderately AggressivePairCorr
  0.91SBMIX Moderate BalancedPairCorr
  0.9SUMCX Conservative BalancedPairCorr
  0.89SSCYX Small CapitalizationPairCorr
  0.88STPIX Technology CommunicationsPairCorr
  0.86SSCPX Small CapitalizationPairCorr
  0.78SHPAX Health BiotchnologyPairCorr
  0.74SLCVX Large Cap ValuePairCorr
  0.73SABAX Salient Alternative BetaPairCorr
  0.73SBHIX Health BiotchnologyPairCorr
  0.73SBMCX Moderate BalancedPairCorr
  0.72SABCX Salient Alternative BetaPairCorr
  0.72SAMCX Salient Mlp FundPairCorr
  0.72SAMIX Moderately AggressivePairCorr
  0.66SSCCX Saratoga Small CapitPairCorr
  0.56SIEYX International EquityPairCorr
  0.56SIECX International EquityPairCorr
  0.56SIEPX International EquityPairCorr
  0.96SLVCX Large Cap ValuePairCorr
  0.94SMIPX Mid CapitalizationPairCorr
  0.93SLGYX Large CapitalizationPairCorr
  0.93FKCSX Federated Kaufmann SmallPairCorr
  0.92SLVYX Large Cap ValuePairCorr
  0.92SMICX Moderately ConservativePairCorr
  0.92LUNAX Conservative BalancedPairCorr
  0.92SPMAX Mid CapitalizationPairCorr
  0.89SMACX Moderately ConservativePairCorr
  0.89SMPAX Moderate BalancedPairCorr
  0.79VSEMX Vanguard Extended MarketPairCorr
  0.65VIMAX Vanguard Mid CapPairCorr
  0.65VMCPX Vanguard Mid CapPairCorr
  0.65VMCIX Vanguard Mid CapPairCorr
  0.65FSMDX Fidelity Mid CapPairCorr

Related Correlations Analysis


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.

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