Smallcap World Correlations

Mutual Funds . USA . 
Fund . Smallcap World Fund
RLLGX Fund  USD 77.58  0.56  0.72%   
The current 90-days correlation between Smallcap World and American Funds Fundamental is -0.27 (i.e., Very good diversification). The correlation of Smallcap World 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 World Correlation With Market

Very good diversification

The correlation between Smallcap World Fund and DJI is -0.26 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Smallcap World 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 World 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 rate.

Moving together with Smallcap Mutual Fund

  0.76AMECX Income FundPairCorr
  0.79RNEBX New World FundPairCorr
  0.76AMFCX American MutualPairCorr
  0.76AMFFX American MutualPairCorr
  0.78RNCCX American Funds IncomePairCorr
  0.74FPPPX American Funds PresePairCorr
  0.76RNGGX New Economy FundPairCorr
  0.76RNGFX New Economy FundPairCorr
  0.76RNGHX New Economy FundPairCorr
  0.98RNGBX New Economy FundPairCorr
  0.84RNGAX New Economy FundPairCorr
  0.76RNGEX New Economy FundPairCorr
  0.76RNGCX New Economy FundPairCorr
  0.79FPTPX American Funds ConsePairCorr
  0.98RNNEX New Economy FundPairCorr
  0.77CDJAX American Funds CollegePairCorr
  0.77AMPCX Amcap Fund ClassPairCorr
  0.77AMPFX Amcap Fund ClassPairCorr
  0.79RNPAX New PerspectivePairCorr
  0.98RNPHX New PerspectivePairCorr
  0.79RNPGX New PerspectivePairCorr
  0.79RNPCX New PerspectivePairCorr
  0.98RNPFX New PerspectivePairCorr
  0.75AMRMX American MutualPairCorr
  0.97AMRFX American MutualPairCorr
  0.67AMUSX Us Government SecuritiesPairCorr
  0.8TEPCX American Funds TaxPairCorr
  0.77TEPFX American Funds TaxPairCorr
  0.79RNWEX New World FundPairCorr
  0.85RNWHX New World FundPairCorr
  0.79RNWGX New World FundPairCorr
  0.98RNWBX New World FundPairCorr
  0.79RNWAX New World FundPairCorr
  0.79RNWCX New World FundPairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

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