Small Cap Correlations

Mutual Funds . USA . 
Fund . Small Cap Stock
UISCX Fund  USD 13.78  0.12  0.86%   
The current 90-days correlation between Small Cap Stock and Ishares Municipal Bond is -0.22 (i.e., Very good diversification). The correlation of Small Cap 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.

Small Cap Correlation With Market

Poor diversification

The correlation between Small Cap Stock and DJI is 0.61 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Small Cap Stock 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 Small Cap Stock. Also, note that the market value of any mutual fund could be closely tied with the direction of predictive economic indicators such as various price indices.

Moving together with Small Mutual Fund

  0.8UIPMX Precious Metals AndPairCorr
  0.75URNQX Nasdaq 100 IndexPairCorr
  0.91USPRX Sp 500 IndexPairCorr
  0.74VSMAX Vanguard Small CapPairCorr
  0.82VSCIX Vanguard Small CapPairCorr
  0.81VSCPX Vanguard Small CapPairCorr
  0.74NAESX Vanguard Small CapPairCorr
  0.67FSSNX Fidelity Small CapPairCorr
  0.79DFSTX Us Small Cap Potential GrowthPairCorr
  0.89FTHSX Fuller Thaler BehavioralPairCorr
  0.9FTHNX Fuller Thaler Behavioral Potential GrowthPairCorr
  0.97PASVX T Rowe PricePairCorr
  0.97PRVIX T Rowe PricePairCorr
  0.67VSTSX Vanguard Total StockPairCorr
  0.69VSMPX Vanguard Total StockPairCorr
  0.69VITSX Vanguard Total StockPairCorr
  0.66VFFSX Vanguard 500 IndexPairCorr
  0.66VFIAX Vanguard 500 IndexPairCorr
  0.69VTSAX Vanguard Total StockPairCorr
  0.74VTSNX Vanguard Total InterPairCorr
  0.72VTISX Vanguard Total InterPairCorr
  0.74VTPSX Vanguard Total InterPairCorr
  0.66VINIX Vanguard InstitutionalPairCorr
  0.65FQDIX New Hampshire HigherPairCorr
  0.85CDCRX Copeland Risk ManagedPairCorr
  0.67TLOTX Transamerica Large ValuePairCorr
  0.84CFMVX Commerce Midcap ValuePairCorr
  0.88CFAGX Midcap GrowthPairCorr
  0.83VICAX Usa Mutuals VicePairCorr
  0.67BIVRX Balter Invenomic Steady GrowthPairCorr
  0.86ASGTX Transamerica Small CapPairCorr
  0.79DGEFX Destinations EquityPairCorr
  0.69EIHIX Eaton Vance HighPairCorr
  0.64TLARX Transamerica Large CorePairCorr
  0.73HNISX Harbor InternationalPairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

There is a big difference between Small Mutual Fund performing well and Small Cap 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 Small Cap'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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