Small Company Correlations

Mutual Funds . USA . 
Fund . Small Pany Value
WSMVX Fund  USD 26.95  0.02  0.07%   
The current 90-days correlation between Small Pany Value and Small Pany Growth is 0.81 (i.e., Very poor diversification). The correlation of Small Company 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.

Small Company Correlation With Market

Modest diversification

The correlation between Small Pany Value and DJI is 0.29 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Small Pany Value 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 Small Pany Value. 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 Small Mutual Fund

  0.77WSMGX Small Pany GrowthPairCorr
  0.76WFIVX Wilshire 5000 IndexPairCorr
  0.74WINDX Wilshire 5000 IndexPairCorr
  0.9WLCGX Large Pany GrowthPairCorr
  0.96WLCVX Large Pany ValuePairCorr
  0.65WLCTX Wilshire InternationalPairCorr
  0.95DTLGX Wilshire LargePairCorr
  0.99DTLVX Large Pany ValuePairCorr
  0.96DTSVX Small Pany ValuePairCorr
  0.78DTSGX Small Pany GrowthPairCorr
  0.84WLTTX Wilshire InternationalPairCorr
  0.82VSIIX Vanguard Small CapPairCorr
  0.82VISVX Vanguard Small CapPairCorr
  0.87DFSVX Us Small CapPairCorr
  0.75DFFVX Us Targeted ValuePairCorr
  0.98UBVCX Undiscovered ManagersPairCorr
  0.97UBVAX Undiscovered ManagersPairCorr
  0.97UBVSX Undiscovered ManagersPairCorr
  0.94AVFIX American Beacon SmallPairCorr
  0.71KNPAX Kinetics ParadigmPairCorr
  0.74KSCOX Kinetics Small CapPairCorr
  0.74KSOCX Kinetics Small CapPairCorr
  0.7WWNPX Kinetics ParadigmPairCorr
  0.73KSCYX Kinetics Small CapPairCorr
  0.76LSHUX Horizon Spin OffPairCorr
  0.72KNPCX Kinetics ParadigmPairCorr
  0.67QUACX Ab Small CapPairCorr

Moving against Small Mutual Fund

  0.62DHEAX Diamond Hill ShortPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Small Mutual Fund performing well and Small Company 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 Small Company'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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