Sp Midcap Correlations

MIDKX Fund

USD 24.94 0.03 0.12%

The current 90-days correlation between Sp Midcap Index and Shelton Emerging Markets is 0.03 (i.e., Significant diversification). The correlation of Sp Midcap 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.

Sp Midcap Correlation With Market

Significant diversification

The correlation between Sp Midcap Index and DJI is 0.03 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sp Midcap Index and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Sp Midcap Index. 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 board of governors.

Moving together with MIDKX Mutual Fund

0.96	EMSQX	Shelton Emerging Markets	Pair Corr
0.71	NQQQX	Shelton Funds	Pair Corr
0.77	NASDX	Nasdaq 100 Index	Pair Corr
0.76	EQTKX	Shelton E Value	Pair Corr
0.77	EQTIX	Shelton E Value	Pair Corr
0.73	SISEX	Shelton International	Pair Corr
0.72	SISLX	Shelton International	Pair Corr
0.96	SMCIX	Sp Smallcap Index	Pair Corr
0.96	SMLKX	Sp Smallcap Index	Pair Corr
0.79	DEBTX	Shelton Tactical Credit	Pair Corr
0.8	DEBIX	Shelton Tactical Credit	Pair Corr
0.87	SPFIX	Sp 500 Index	Pair Corr
0.95	SPMIX	Sp Midcap Index	Pair Corr
0.93	SPXKX	Sp 500 Index	Pair Corr
0.64	FSMDX	Fidelity Mid Cap	Pair Corr
0.64	FTYPX	Fidelity Freedom Index	Pair Corr
0.7	FFBTX	Fidelity Freedom Blend	Pair Corr
0.75	GAAVX	Gmo Alternative Allo	Pair Corr
0.89	GCAVX	Gmo Small Cap	Pair Corr
0.87	GMCQX	Gmo Equity Allocation	Pair Corr

Moving against MIDKX Mutual Fund

0.4

GABFX

Gmo Asset Allocation

Pair Corr

Related Correlations Analysis

	EMSLX	EMSQX	CFNTX	NQQQX	NASDX	EQTKX	EQTIX	NDXKX	NEXIX	NEXTX
EMSLX		0.13	0.11	0.44	0.43	0.55	0.54	0.47	0.55	0.67	EMSLX
EMSQX	0.13		0.32	0.8	0.84	0.77	0.78	0.5	-0.26	-0.27	EMSQX
CFNTX	0.11	0.32		0.43	0.45	0.22	0.24	0.49	-0.25	-0.21	CFNTX
NQQQX	0.44	0.8	0.43		0.91	0.79	0.8	0.66	-0.13	-0.08	NQQQX
NASDX	0.43	0.84	0.45	0.91		0.9	0.9	0.75	-0.09	-0.02	NASDX
EQTKX	0.55	0.77	0.22	0.79	0.9		1.0	0.69	0.15	0.23	EQTKX
EQTIX	0.54	0.78	0.24	0.8	0.9	1.0		0.69	0.12	0.2	EQTIX
NDXKX	0.47	0.5	0.49	0.66	0.75	0.69	0.69		0.28	0.23	NDXKX
NEXIX	0.55	-0.26	-0.25	-0.13	-0.09	0.15	0.12	0.28		0.92	NEXIX
NEXTX	0.67	-0.27	-0.21	-0.08	-0.02	0.23	0.2	0.23	0.92		NEXTX
	EMSLX	EMSQX	CFNTX	NQQQX	NASDX	EQTKX	EQTIX	NDXKX	NEXIX	NEXTX

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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

EQTIX	+ 1.0	EQTKX
NEXTX	+ 0.92	NEXIX
NASDX	+ 0.91	NQQQX
EQTKX	+ 0.9	NASDX
EQTIX	+ 0.9	NASDX
NASDX	+ 0.84	EMSQX

High negative correlations

NEXTX	- 0.27	EMSQX
NEXIX	- 0.26	EMSQX
NEXIX	- 0.25	CFNTX
NEXTX	- 0.21	CFNTX
NEXIX	- 0.13	NQQQX
NEXIX	- 0.09	NASDX

Risk-Adjusted Indicators

There is a big difference between MIDKX Mutual Fund performing well and Sp Midcap 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 Sp Midcap'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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
EMSLX	0.73	(0.01)	(0.03)	0.05	1.24	(0.65)	1.26	(1.66)	5.29
EMSQX	0.99	0.25	0.17	0.40	0.94	(1.07)	1.48	(1.70)	18.87
CFNTX	0.06	0.00	(0.41)	(0.48)	0.00	(0.12)	0.10	(0.09)	0.57
NQQQX	0.89	0.10	0.04	3.24	1.20	(0.91)	2.19	(2.05)	6.34
NASDX	0.88	0.04	0.03	0.09	1.20	(0.90)	2.19	(2.04)	6.32
EQTKX	0.46	(0.01)	(0.04)	0.04	0.62	(0.46)	0.94	(0.87)	2.48
EQTIX	0.46	(0.01)	(0.04)	0.04	0.62	(0.47)	0.92	(0.87)	2.48
NDXKX	0.82	0.06	0.00	1.83	1.23	(0.78)	1.82	(2.05)	4.67
NEXIX	0.86	(0.02)	0.00	(0.27)	0.00	0.00	1.58	(2.15)	4.31
NEXTX	0.86	(0.09)	0.00	(0.02)	0.00	0.00	1.58	(2.16)	4.28

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