Small Cap Correlations

Mutual Funds . USA . 
Fund . Small Cap Stock
UISCX Fund  USD 14.82  0.09  0.61%   
The current 90-days correlation between Small Cap Stock and Ab Global Risk is 0.32 (i.e., Weak 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

Very weak diversification

The correlation between Small Cap Stock and DJI is 0.56 (i.e., Very weak 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 unemployment.

Moving together with Small Mutual Fund

  0.74VSMAX Vanguard Small CapPairCorr
  0.74VSCIX Vanguard Small CapPairCorr
  0.74VSCPX Vanguard Small CapPairCorr
  0.89NAESX Vanguard Small CapPairCorr
  0.72FSSNX Fidelity Small CapPairCorr
  0.74DFSTX Us Small CapPairCorr
  0.74FTHSX Fuller Thaler BehavioralPairCorr
  0.74FTHNX Fuller Thaler BehavioralPairCorr
  0.72PASVX T Rowe PricePairCorr
  0.72PRVIX T Rowe PricePairCorr
  0.75GPMFX Guidepath Managed FuturesPairCorr
  0.69WARCX Wells Fargo AdvantagePairCorr
  0.66BTIEX Deutsche Equity 500PairCorr
  0.84PAUIX Pimco All AssetPairCorr
  0.64IOEZX Icon Equity IncomePairCorr
  0.67RWICX Capital World GrowthPairCorr
  0.78FMTIX Franklin ModeratePairCorr
  0.79MIBLX Bny Mellon AssetPairCorr
  0.88PCIEX Pace International EquityPairCorr
  0.68HAVLX Harbor Large CapPairCorr
  0.83PAUPX Pimco All AssetPairCorr
  0.61FAWTX American Funds 2060PairCorr
  0.77JHRNX Retirement Living ThroughPairCorr
  0.64TRRVX T Rowe PricePairCorr
  0.61FFOLX Fidelity Freedom IndexPairCorr
  0.84PATRX Pimco All AssetPairCorr
  0.66RRTAX T Rowe PricePairCorr

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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