Needham Small Correlations

Mutual Funds . USA . 
Fund . Needham Small Cap
NESIX Fund  USD 19.93  0.26  1.32%   
The current 90-days correlation between Needham Small Cap and Needham Small Cap is 1.0 (i.e., No risk reduction). The correlation of Needham Small 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.

Needham Small Correlation With Market

Poor diversification

The correlation between Needham Small Cap and DJI is 0.74 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Needham Small Cap 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 Needham Small 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 gross domestic product.

Moving together with Needham Mutual Fund

  0.98NEAIX Needham Aggressive GrowthPairCorr
  0.99NEAGX Needham Aggressive GrowthPairCorr
  0.99NEEGX Needham GrowthPairCorr
  0.99NEEIX Needham GrowthPairCorr
  1.0NESGX Needham Small CapPairCorr
  0.99VSMAX Vanguard Small CapPairCorr
  0.99VSCIX Vanguard Small CapPairCorr
  0.99VSCPX Vanguard Small CapPairCorr
  0.99NAESX Vanguard Small CapPairCorr
  0.98FSSNX Fidelity Small CapPairCorr
  0.97DFSTX Us Small CapPairCorr
  0.98PASVX T Rowe PricePairCorr
  0.98PRVIX T Rowe PricePairCorr
  0.98TRZVX T Rowe PricePairCorr
  0.97PRSVX T Rowe PricePairCorr
  0.98VSTSX Vanguard Total StockPairCorr
  0.98VSMPX Vanguard Total StockPairCorr
  0.99VITSX Vanguard Total StockPairCorr
  0.98VFFSX Vanguard 500 IndexPairCorr
  0.98VFIAX Vanguard 500 IndexPairCorr
  0.95VTISX Vanguard Total InterPairCorr
  0.95VTSNX Vanguard Total InterPairCorr
  0.97VTPSX Vanguard Total InterPairCorr
  0.99VINIX Vanguard InstitutionalPairCorr
  0.98VTSAX Vanguard Total StockPairCorr
  0.96FISMX Fidelity InternationalPairCorr
  0.96JSCRX Prudential Jennison SmallPairCorr
  0.99CLREX Columbia BalancedPairCorr
  0.98PGWAX Allianzgi Focused GrowthPairCorr
  0.96TNMRX 1290 Multi AlternativePairCorr
  0.87RAAIX Altegrisaaca OpportunisticPairCorr
  0.99HMVFX Hartford MidcapPairCorr
  0.99USPFX Union Street PartnersPairCorr
  0.66CCWCX Capital World BondPairCorr
  0.96FIIAX Fidelity Advisor MidPairCorr
  0.72RYHEX Health Care FundPairCorr
  0.94MAUKX Pioneer Multi AssetPairCorr
  0.98FERGX Fidelity Sai EmergingPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

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