Thompson Midcap Correlations

Mutual Funds . USA . 
Fund . Thompson Midcap Fund
THPMX Fund  USD 15.08  0.17  1.14%   
The current 90-days correlation between Thompson Midcap and Thompson Largecap Fund is 0.97 (i.e., Almost no diversification). The correlation of Thompson Midcap 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.

Thompson Midcap Correlation With Market

Very poor diversification

The correlation between Thompson Midcap Fund and DJI is 0.85 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Thompson Midcap Fund 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 Thompson Midcap Fund. 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 population.

Moving together with Thompson Mutual Fund

  0.98THPGX Thompson LargecapPairCorr
  0.95VIMAX Vanguard Mid CapPairCorr
  0.81VIMSX Vanguard Mid CapPairCorr
  0.81VMCIX Vanguard Mid CapPairCorr
  0.97VEXAX Vanguard Extended MarketPairCorr
  0.81VEMPX Vanguard Extended MarketPairCorr
  0.81VIEIX Vanguard Extended MarketPairCorr
  0.81VEXMX Vanguard Extended MarketPairCorr
  0.81FSMAX Fidelity Extended MarketPairCorr
  0.68XPPRX Voya Prime RatePairCorr
  0.69PCF Putnam High IncomePairCorr
  0.72RPGRX T Rowe PricePairCorr
  0.81BOSOX Boston Trust SmallPairCorr
  0.75FSDAX Defense And AerospacePairCorr
  0.71RULFX Rbc Ultra ShortPairCorr
  0.84VTCLX Vanguard Tax ManagedPairCorr
  0.66MLPMX Oppenheimer Steelpath MlpPairCorr
  0.93VIGAX Vanguard Growth IndexPairCorr
  0.91RFNFX American Funds FundaPairCorr
  0.94VFINX Vanguard 500 IndexPairCorr
  0.83GTEYX Gateway Fund ClassPairCorr
  0.67TNHRX 1290 High YieldPairCorr
  0.96TIGGX Goldman Sachs TaxPairCorr
  0.68NMT Nuveen MassachusettsPairCorr
  0.82FAGCX Fidelity Advisor GrowthPairCorr
  0.95TAAIX Thrivent AggressivePairCorr
  0.93VCBCX Blue Chip GrowthPairCorr
  0.81VFLEX Relative ValuePairCorr
  0.76FSCSX Software And ItPairCorr

Moving against Thompson Mutual Fund

  0.6XNXJX Nuveen New JerseyPairCorr
  0.4NXJ Nuveen New JerseyPairCorr
  0.34XDSMX Dreyfus StrategicPairCorr
  0.55XNBHX Neuberger Berman IntPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Thompson Mutual Fund performing well and Thompson Midcap 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 Thompson Midcap'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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