Smallcap Value Correlations

Mutual Funds USA . 
Fund . Smallcap Value Fund
PSMJX Fund  USD 11.49  0.03  0.26%   
The current 90-days correlation between Smallcap Value and Gabelli Convertible And is 0.23 (i.e., Modest diversification). The correlation of Smallcap Value 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.

Smallcap Value Correlation With Market

Very poor diversification

The correlation between Smallcap Value Fund and DJI is 0.82 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Smallcap Value Fund and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Smallcap Value Fund. 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 bureau of economic analysis.

Moving together with Smallcap Mutual Fund

  0.94SABPX Strategic Asset ManaPairCorr
  0.95SACAX Strategic Asset ManaPairCorr
  0.94SAGPX Strategic Asset ManaPairCorr
  0.91PFIJX Strategic Asset ManaPairCorr
  0.83PFIEX International EquityPairCorr
  0.9PFIFX Strategic Asset ManaPairCorr
  0.87PFISX International Small PanyPairCorr
  0.9PFIPX Strategic Asset ManaPairCorr
  0.92SAIPX Strategic Asset ManaPairCorr
  0.94PFLJX Principal Lifetime 2050PairCorr
  0.88PFPPX Midcap GrowthPairCorr
  0.91SAUPX Strategic Asset ManaPairCorr
  0.87PFUMX Finisterre UnconstrainedPairCorr
  0.85PGBAX Global Diversified IncomePairCorr
  0.85PGBLX Global Diversified IncomePairCorr
  0.86PGBEX Blue Chip FundPairCorr
  0.86PGBGX Blue Chip FundPairCorr
  0.86PGBHX Blue Chip FundPairCorr
  0.85PGDCX Global Diversified IncomePairCorr
  0.85PGDIX Global Diversified IncomePairCorr
  0.89PGDRX Diversified Real AssetPairCorr
  0.91PGLSX Global Multi StrategyPairCorr
  0.77STCCX Short Term IncomePairCorr
  0.95PGRTX Smallcap GrowthPairCorr
  0.88PGWIX Midcap GrowthPairCorr
  0.94SCBPX Strategic Asset ManaPairCorr
  0.92SCIPX Strategic Asset ManaPairCorr
  0.94SCGPX Strategic Asset ManaPairCorr
  0.93PHJEX Principal Lifetime HybridPairCorr
  0.92PHJFX Principal Lifetime HybridPairCorr
  0.94PHJGX Principal Lifetime HybridPairCorr
  0.94PHJBX Principal Lifetime HybridPairCorr
  0.94PHJDX Principal Lifetime HybridPairCorr
  0.93PHJNX Principal Lifetime HybridPairCorr
  0.93PHJQX Principal Lifetime HybridPairCorr
  0.93PHJJX Principal Lifetime HybridPairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

There is a big difference between Smallcap Mutual Fund performing well and Smallcap Value 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 Smallcap Value'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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