Small Cap Correlations

Mutual Funds . USA . 
Fund . Small Cap Value
ASVDX Fund  USD 10.28  0.12  1.15%   
The correlation of Small 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.

Small Cap Correlation With Market

Very poor diversification

The correlation between Small Cap Value and DJI is 0.88 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Small Cap Value and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Small Cap 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 unemployment.

Moving together with Small Mutual Fund

  0.97AMDVX Mid Cap ValuePairCorr
  0.93AMEIX Equity GrowthPairCorr
  0.95AMGIX Income GrowthPairCorr
  0.92AMKIX Emerging MarketsPairCorr
  0.9TWADX Value Fund APairCorr
  0.92TWCCX Ultra Fund CPairCorr
  0.86TWCAX Select Fund APairCorr
  0.91TWCIX Select Fund InvestorPairCorr
  0.91TWCGX Growth Fund InvestorPairCorr
  0.97AMVYX Mid Cap ValuePairCorr
  0.97AMVRX Mid Cap ValuePairCorr
  0.93TWBIX Balanced Fund InvestorPairCorr
  0.9AMVGX Mid Cap ValuePairCorr
  0.88TWEAX Equity IncomePairCorr
  0.89TWEIX Equity IncomePairCorr
  0.92TWCUX Ultra Fund InvestorPairCorr
  0.83TWGAX International GrowthPairCorr
  0.91TWGIX Growth Fund IPairCorr
  0.91TWGGX Global GrowthPairCorr
  0.86TWIEX International GrowthPairCorr
  0.92TWHIX Heritage Fund InvestorPairCorr
  0.92TWMIX Emerging MarketsPairCorr
  0.91TWRCX Growth Fund CPairCorr
  0.74TWTCX Intermediate Term TaxPairCorr
  0.77TWTIX Intermediate Term TaxPairCorr
  0.93TWSCX Strategic Allocation:PairCorr
  0.93TWSAX Strategic Allocation:PairCorr
  0.93TWSMX Strategic Allocation:PairCorr
  0.91TWSIX Select Fund IPairCorr
  0.96TWVLX Value Fund InvestorPairCorr
  0.87TWUAX Ultra Fund APairCorr
  0.92TWUIX Ultra Fund IPairCorr
  0.62TWWOX Intermediate Term TaxPairCorr
  0.9NPHIX High Income FundPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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