Mid Cap Correlations

Mutual Funds . USA . 
Fund . Mid Cap Index
VMIDX Fund  USD 28.58  0.02  0.07%   
The current 90-days correlation between Mid Cap Index and Old Westbury Large is 0.63 (i.e., Poor diversification). The correlation of Mid 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.

Mid Cap Correlation With Market

Very weak diversification

The correlation between Mid Cap Index and DJI is 0.52 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mid 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 Mid 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 unemployment.

Moving together with Mid Mutual Fund

  0.76VMSGX Mid Cap StrategicPairCorr
  0.86VSRDX Valic Company IPairCorr
  0.87VSSVX Small Cap SpecialPairCorr
  0.92VBCVX Broad Cap ValuePairCorr
  0.86VCAAX Asset AllocationPairCorr
  0.74VCBDX Valic Company IPairCorr
  0.69VCGAX Growth IncomePairCorr
  0.74VCGSX Government SecuritiesPairCorr
  0.75VCIFX International GovernmentPairCorr
  0.85VCIGX Valic Company IPairCorr
  0.69VCTPX Inflation ProtectedPairCorr
  0.95VCSLX Small Cap IndexPairCorr
  0.81VDAFX Dynamic AllocationPairCorr
  0.98VVMCX Valic Company IPairCorr
  0.86VVSGX Valic Company IPairCorr
  0.94VVSCX Valic Company IPairCorr
  0.76VGCLX Valic Company IPairCorr
  0.84VGREX Global Real EstatePairCorr
  0.63VIOPX Valic Company IPairCorr
  0.68VLAGX Valic Company IPairCorr
  0.68VLCGX Large Capital GrowthPairCorr
  0.72VLSMX Valic Company IPairCorr
  0.94VIMAX Vanguard Mid CapPairCorr
  0.94VIMSX Vanguard Mid CapPairCorr
  0.94VMCPX Vanguard Mid CapPairCorr
  0.94VMCIX Vanguard Mid CapPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Mid Mutual Fund performing well and Mid 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 Mid 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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