Mid Cap Correlations

Mutual Funds . USA . 
Fund . Mid Cap Strategic
VMSGX Fund  USD 23.01  0.35  1.54%   
The current 90-days correlation between Mid Cap Strategic and Perkins Small Cap is 0.59 (i.e., Very weak 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

Poor diversification

The correlation between Mid Cap Strategic and DJI is 0.75 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mid Cap Strategic 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 Strategic. 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 census.

Moving together with Mid Mutual Fund

  0.7VMIDX Mid Cap IndexPairCorr
  0.93VSRDX Valic Company IPairCorr
  0.88VSTIX Stock Index FundPairCorr
  0.61VSSVX Small Cap SpecialPairCorr
  0.66VBCVX Broad Cap ValuePairCorr
  0.84VCAAX Asset AllocationPairCorr
  0.88VCGAX Growth IncomePairCorr
  0.86VCINX International GrowthPairCorr
  0.82VCNIX Nasdaq 100 IndexPairCorr
  0.8VCSTX Science TechnologyPairCorr
  0.8VCSLX Small Cap IndexPairCorr
  0.71VCULX Growth Fund GrowthPairCorr
  0.87VDAFX Dynamic AllocationPairCorr
  0.61VVMCX Valic Company IPairCorr
  0.91VVSGX Valic Company IPairCorr
  0.66VVSCX Valic Company IPairCorr
  0.68VHYLX Valic Company IPairCorr
  0.78VLAGX Valic Company IPairCorr
  0.88VLCGX Large Capital GrowthPairCorr
  0.76VLSMX Valic Company IPairCorr
  0.75PAMCX T Rowe PricePairCorr
  0.95RRMGX T Rowe PricePairCorr
  0.72PCBIX Midcap Fund InstitutionalPairCorr
  0.78PEMGX Midcap Fund ClassPairCorr
  0.75PMBCX Midcap Fund ClassPairCorr
  0.76TRQZX T Rowe PricePairCorr

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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