Wasatch Micro Correlations

Mutual Funds . USA . 
Fund . Wasatch Micro Cap
WAMVX Fund  USD 4.27  0.04  0.95%   
The current 90-days correlation between Wasatch Micro Cap and Wasatch Micro Cap is 0.96 (i.e., Almost no diversification). The correlation of Wasatch Micro 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.

Wasatch Micro Correlation With Market

Weak diversification

The correlation between Wasatch Micro Cap and DJI is 0.38 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Wasatch Micro Cap and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Wasatch Micro Cap. 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 real.

Moving together with Wasatch Mutual Fund

  0.95WAAEX Wasatch Small CapPairCorr
  0.83WAMCX Wasatch Ultra GrowthPairCorr
  0.95WIAEX Wasatch Small CapPairCorr
  0.95WMICX Wasatch Micro CapPairCorr
  0.97VSGAX Vanguard Small CapPairCorr
  0.97VSGIX Vanguard Small CapPairCorr
  0.96VISGX Vanguard Small CapPairCorr
  0.67VEXPX Vanguard ExplorerPairCorr
  0.68VEXRX Vanguard ExplorerPairCorr
  0.85ASG Liberty All StarPairCorr
  0.63ETV Eaton Vance TaxPairCorr
  0.67CLM Cornerstone StrategicPairCorr
  0.73CRF Cornerstone StrategicPairCorr
  0.79USA Liberty All StarPairCorr
  0.61ETY Eaton Vance TaxPairCorr
  0.69NFJ Virtus Dividend InterestPairCorr
  0.84EVT Eaton Vance TaxPairCorr
  0.84JRODX J Hancock IiPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Wasatch Mutual Fund performing well and Wasatch Micro 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 Wasatch Micro'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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