Mid Cap Correlations

Mutual Funds . USA . 
Fund . Mid Cap Index
VMIDX Fund  USD 26.95  0.27  0.99%   
The current 90-days correlation between Mid Cap Index and Balanced Fund Retail is -0.15 (i.e., Good 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 poor diversification

The correlation between Mid Cap Index and DJI is 0.83 (i.e., Very poor 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 small area income & poverty estimates.

Moving together with Mid Mutual Fund

  0.98VSSVX Small Cap SpecialPairCorr
  0.72VCAAX Asset AllocationPairCorr
  0.74VCBDX Valic Company IPairCorr
  0.84VCGAX Growth IncomePairCorr
  0.75VCGEX Emerging EconomiesPairCorr
  0.93VCFVX Foreign ValuePairCorr
  0.93VCIEX International EquitiesPairCorr
  0.7VCIFX International GovernmentPairCorr
  0.82VCIGX Valic Company IPairCorr
  0.76VCINX International GrowthPairCorr
  0.63VCNIX Nasdaq 100 IndexPairCorr
  0.83VCSOX Global Social AwarenessPairCorr
  0.99VCSLX Small Cap Index Potential GrowthPairCorr
  0.77VDAFX Dynamic AllocationPairCorr
  0.94VVSGX Valic Company IPairCorr
  0.86VVSCX Valic Company IPairCorr
  0.81VGLSX Global StrategyPairCorr
  0.71VGREX Global Real EstatePairCorr
  0.94VIOPX Valic Company IPairCorr
  0.95VLAGX Valic Company IPairCorr
  0.86VLSMX Valic Company IPairCorr
  0.98VIMAX Vanguard Mid CapPairCorr
  0.98VIMSX Vanguard Mid CapPairCorr
  0.98VMCPX Vanguard Mid CapPairCorr
  0.98VMCIX Vanguard Mid CapPairCorr
  0.97VEXAX Vanguard Extended MarketPairCorr
  0.97VEMPX Vanguard Extended MarketPairCorr
  0.97VIEIX Vanguard Extended MarketPairCorr
  0.97VEXMX Vanguard Extended MarketPairCorr
  0.99FSMDX Fidelity Mid CapPairCorr

Related Correlations Analysis


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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