Small Cap Correlations

Mutual Funds . USA . 
Fund . Small Cap Index
VCSLX Fund  USD 18.79  0.09  0.48%   
The current 90-days correlation between Small Cap Index and Multisector Bond Sma is 0.15 (i.e., Average 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 Index and DJI is 0.77 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Small Cap 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 Small Cap 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 state.

Moving together with Small Mutual Fund

  0.88VSMAX Vanguard Small CapPairCorr
  0.88VSCIX Vanguard Small CapPairCorr
  0.88VSCPX Vanguard Small CapPairCorr
  0.88NAESX Vanguard Small CapPairCorr
  0.91FSSNX Fidelity Small CapPairCorr
  0.87DFSTX Us Small CapPairCorr
  0.86FTHSX Fuller Thaler BehavioralPairCorr
  0.86FTHNX Fuller Thaler BehavioralPairCorr
  0.71PASVX T Rowe PricePairCorr
  0.71PRVIX T Rowe PricePairCorr
  0.7GPBFX Gmo E PlusPairCorr
  0.8GPMFX Guidepath Managed FuturesPairCorr
  0.64PQTAX Pimco Trends ManagedPairCorr
  0.66PQTNX Pimco Trends ManagedPairCorr
  0.66PQTIX Aa Pimco TrPairCorr
  0.77WARCX Wells Fargo AdvantagePairCorr
  0.86JDMAX Janus EnterprisePairCorr
  0.78VQSRX Virtus Kar SmallPairCorr
  0.67TEI Templeton EmergingPairCorr
  0.64HRACX Hartford GrowthPairCorr
  0.66AHYCX Invesco High YieldPairCorr
  0.68RWIHX Capital World GrowthPairCorr
  0.73DGBCX Dreyfus Global RealPairCorr
  0.78JOPSX Johcm InternationalPairCorr
  0.72CSEIX Cohen Steers RealPairCorr
  0.93ETCDX Eventide Global DividendPairCorr
  0.67PMPSX Precious Metals Ultr Steady GrowthPairCorr
  0.72TRGGX Goldman Sachs TaxPairCorr
  0.69DSIBX Dreyfus Short IntermPairCorr
  0.86LRRTX Floating RatePairCorr
  0.65PGIUX Virtus Global InfrasPairCorr
  0.79FGRTX Fidelity Mega CapPairCorr
  0.64USLUX Us Global InvestorsPairCorr
  0.73NEMUX Nebraska MunicipalPairCorr

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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