Wasatch Micro Correlations

Mutual Funds . USA . 
Fund . Wasatch Micro Cap
WGICX Fund  USD 8.84  0.11  1.26%   
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

Average diversification

The correlation between Wasatch Micro Cap and DJI is 0.15 (i.e., Average 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 main economic indicators.

Moving together with Wasatch Mutual Fund

  0.92WAAEX Wasatch Small CapPairCorr
  0.86WAGSX Wasatch Global SelectPairCorr
  0.79WAGOX Wasatch Global OpporPairCorr
  0.92WAMVX Wasatch Micro CapPairCorr
  0.89WAMCX Wasatch Ultra GrowthPairCorr
  0.86WGGSX Wasatch Global SelectPairCorr
  0.96WGMCX Wasatch Ultra GrowthPairCorr
  0.97WGMVX Wasatch Micro CapPairCorr
  0.85WGLSX Wells Fargo AdvantagePairCorr
  0.91WGROX Wasatch E GrowthPairCorr
  0.92WIAEX Wasatch Small CapPairCorr
  0.96WICVX Wasatch Small CapPairCorr
  0.91WIGRX Wasatch E GrowthPairCorr
  0.88WIGOX Wasatch Global OpporPairCorr
  0.9WMCVX Wasatch Small CapPairCorr
  0.93WMICX Wasatch Micro CapPairCorr
  0.91VSGAX Vanguard Small CapPairCorr
  0.91VSGIX Vanguard Small CapPairCorr
  0.91VISGX Vanguard Small CapPairCorr
  0.92VEXPX Vanguard ExplorerPairCorr
  0.92VEXRX Vanguard ExplorerPairCorr
  0.92JGMIX Janus TritonPairCorr
  0.92JGMRX Janus TritonPairCorr

Moving against Wasatch Mutual Fund

  0.5WAINX Wasatch Emerging IndiaPairCorr
  0.47WAIOX Wasatch InternationalPairCorr
  0.36WAIGX Wasatch InternationalPairCorr
  0.75WHOSX Wasatch HoisingtonPairCorr
  0.46WIIOX Wasatch InternationalPairCorr
  0.42WIINX Wasatch Emerging IndiaPairCorr

Related Correlations Analysis

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.
High positive correlations   
WAIGX
+ 0.96
WAIOX
WAIGX
+ 0.88
WAEMX
WAEMX
+ 0.82
WAIOX
  
High negative correlations   
WMCVX
- 0.38
WAIOX
WAEMX
- 0.3
WMCVX
WAIGX
- 0.27
WMCVX

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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