Extended Market Correlations

USMIX Fund

USD 21.16 0.07 0.33%

The current 90-days correlation between Extended Market Index and Tiaa Cref Inflation Link is 0.28 (i.e., Modest diversification). The correlation of Extended Market 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.

Extended Market Correlation With Market

Weak diversification

The correlation between Extended Market Index and DJI is 0.36 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Extended Market Index 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 Extended Market Index. 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 gross domestic product.

Moving together with Extended Mutual Fund

0.79	RSNYX	Victory Global Natural	Pair Corr
0.78	RSTYX	Victory Tax Exempt	Pair Corr
0.97	VDSCX	Victory Diversified Stock	Pair Corr
0.94	VETAX	Victory Sycamore Est	Pair Corr
0.99	USCAX	Small Cap Stock	Pair Corr
0.76	USCBX	California Bond	Pair Corr
0.94	USCRX	Cornerstone Moderately	Pair Corr
0.99	MCVSX	Victory Integrity Small	Pair Corr
0.92	RIVCX	Victory Rs Investors	Pair Corr
0.74	VIMAX	Vanguard Mid Cap	Pair Corr
0.74	VIMSX	Vanguard Mid Cap	Pair Corr
0.74	VMCPX	Vanguard Mid Cap	Pair Corr
0.74	VMCIX	Vanguard Mid Cap	Pair Corr
0.62	VEMPX	Vanguard Extended Market	Pair Corr
0.63	VEXMX	Vanguard Extended Market	Pair Corr
0.62	FSMAX	Fidelity Extended Market	Pair Corr
0.81	LIIAX	Columbia Porate Income	Pair Corr
0.79	SRINX	Columbia Porate Income	Pair Corr
0.87	WRHIX	Ivy High Income	Pair Corr
0.84	WHIAX	Ivy High Income	Pair Corr
0.86	IHIFX	Ivy High Income	Pair Corr
0.86	IVHIX	Ivy High Income	Pair Corr
0.79	GSWPX	Goldman Sachs Smallmid	Pair Corr
0.67	ARTNX	Artisan Select Equity	Pair Corr
0.61	DFEOX	Us E Equity	Pair Corr

Moving against Extended Mutual Fund

0.56	LFRIX	Floating Rate	Pair Corr
0.42	CIFRX	Columbia Porate Income	Pair Corr
0.41	LALDX	Lord Abbett Short	Pair Corr
0.41	SSAGX	Virtus Seix Government	Pair Corr
0.4	DGFZX	Destinations Global Fixed	Pair Corr

Related Correlations Analysis

	TIIHX	ABNTX	GPMFX	RYIFX	LIFAX	FIFGX	ATACX	APOIX
TIIHX		0.9	-0.09	-0.31	0.57	0.11	0.54	0.69	TIIHX
ABNTX	0.9		-0.1	-0.3	0.57	0.19	0.49	0.66	ABNTX
GPMFX	-0.09	-0.1		0.57	0.33	0.41	0.08	0.19	GPMFX
RYIFX	-0.31	-0.3	0.57		-0.05	0.14	-0.06	-0.12	RYIFX
LIFAX	0.57	0.57	0.33	-0.05		0.7	0.13	0.93	LIFAX
FIFGX	0.11	0.19	0.41	0.14	0.7		-0.41	0.59	FIFGX
ATACX	0.54	0.49	0.08	-0.06	0.13	-0.41		0.28	ATACX
APOIX	0.69	0.66	0.19	-0.12	0.93	0.59	0.28		APOIX
	TIIHX	ABNTX	GPMFX	RYIFX	LIFAX	FIFGX	ATACX	APOIX

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

APOIX	+ 0.93	LIFAX
ABNTX	+ 0.9	TIIHX
FIFGX	+ 0.7	LIFAX
APOIX	+ 0.69	TIIHX
APOIX	+ 0.66	ABNTX
APOIX	+ 0.59	FIFGX

High negative correlations

ATACX	- 0.41	FIFGX
RYIFX	- 0.31	TIIHX
RYIFX	- 0.3	ABNTX
APOIX	- 0.12	RYIFX
GPMFX	- 0.1	ABNTX
GPMFX	- 0.09	TIIHX

Risk-Adjusted Indicators

There is a big difference between Extended Mutual Fund performing well and Extended Market 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 Extended Market'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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
TIIHX	0.14	(0.01)	(0.40)	(1.09)	0.15	(0.18)	0.29	(0.29)	0.86
ABNTX	0.13	(0.01)	(0.37)	(0.12)	0.14	(0.17)	0.30	(0.30)	0.79
GPMFX	0.46	0.05	(0.05)	(0.72)	0.55	(0.48)	0.76	(0.88)	2.79
RYIFX	0.47	0.03	(0.08)	0.51	0.55	(0.52)	0.92	(1.13)	2.67
LIFAX	0.11	0.01	(0.41)	(1.82)	0.00	(0.15)	0.35	(0.26)	0.78
FIFGX	0.68	0.06	0.00	0.32	0.63	(0.86)	1.88	(1.49)	4.94
ATACX	0.92	0.11	0.05	0.52	0.94	(1.01)	2.26	(1.68)	10.18
APOIX	0.10	0.01	(0.41)	(0.90)	0.00	(0.15)	0.20	(0.20)	0.59

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