Small Cap Correlations

Mutual Funds . USA . 
Fund . Small Cap Stock
UISCX Fund  USD 14.59  0.23  1.55%   
The current 90-days correlation between Small Cap Stock and Virtus Convertible is 0.03 (i.e., Significant 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

Almost no diversification

The correlation between Small Cap Stock and DJI is 0.92 (i.e., Almost no 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 signals in services.

Moving together with Small Mutual Fund

  0.98UICGX Capital GrowthPairCorr
  0.9UIEMX Emerging MarketsPairCorr
  0.94UIHIX High Income FundPairCorr
  0.97UIIFX International FundPairCorr
  0.98UIGIX Growth IncomePairCorr
  0.81UIGSX Government SecuritiesPairCorr
  0.72UIINX Income Fund IncomePairCorr
  0.98UIISX Income StockPairCorr
  0.64UIITX Intermediate Term BondPairCorr
  0.89UIPMX Precious Metals AndPairCorr
  0.87UISBX Short Term BondPairCorr
  0.99UIVAX Value Fund ValuePairCorr
  0.98UIWGX World GrowthPairCorr
  0.66URIBX Intermediate Term BondPairCorr
  0.72URIFX Income Fund IncomePairCorr
  0.8URGSX Government SecuritiesPairCorr
  0.95URHIX High Income FundPairCorr
  0.82URNQX Nasdaq 100 IndexPairCorr
  0.88URSBX Short Term BondPairCorr
  0.88URUSX Ultra Short TermPairCorr
  0.95USPRX Sp 500 IndexPairCorr
  0.96UTMAX Target Managed AllocationPairCorr
  0.89UUSIX Ultra Short TermPairCorr
  0.94UGOFX Global Managed VolatilityPairCorr
  0.94VSMAX Vanguard Small CapPairCorr
  0.94VSCIX Vanguard Small CapPairCorr
  0.94VSCPX Vanguard Small CapPairCorr
  0.94NAESX Vanguard Small CapPairCorr
  0.92FSSNX Fidelity Small CapPairCorr
  0.94DFSTX Us Small CapPairCorr
  0.94FTHSX Fuller Thaler BehavioralPairCorr
  0.94FTHNX Fuller Thaler BehavioralPairCorr
  0.99PASVX T Rowe PricePairCorr
  0.98PRVIX T Rowe PricePairCorr
  0.92EKWDX Wells Fargo AdvantagePairCorr
  0.88PMPIX Precious Metals Ultr Steady GrowthPairCorr

Moving against Small Mutual Fund

  0.35CISGX Touchstone Sands CapitalPairCorr

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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