Small Cap Correlations

Mutual Funds . USA . 
Fund . Small Cap Core
SCRYX Fund  USD 12.01  0.05  0.42%   
The current 90-days correlation between Small Cap Core and Ultrasmall Cap Profund Ultrasmall Cap is -0.2 (i.e., Good diversification). 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

Almost no diversification

The correlation between Small Cap Core and DJI is 0.92 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Small Cap Core and DJI in the same portfolio, assuming nothing else is changed.
  
Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Small Cap Core. 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 manufacturing.

Moving together with Small Mutual Fund

  0.95GCEAX Ab Global EPairCorr
  0.99GCECX Ab Global EPairCorr
  0.99GCEYX Ab Global EPairCorr
  0.92AMTAX Ab All MarketPairCorr
  0.92AMTZX Ab All MarketPairCorr
  0.92AMTYX Ab All MarketPairCorr
  0.96AMTOX Ab All MarketPairCorr
  0.7ANAZX Ab Global BondPairCorr
  0.72ANAYX Ab Global BondPairCorr
  0.68ANAGX Ab Global BondPairCorr
  0.72ANAIX Ab Global BondPairCorr
  0.62ANACX Ab Global BondPairCorr
  0.64ANBIX Ab Bond InflationPairCorr
  0.64ANIAX New York MunicipalPairCorr
  0.71ANIYX New York MunicipalPairCorr
  0.96STEYX International StrategicPairCorr
  0.94STEZX International StrategicPairCorr
  0.96STESX International StrategicPairCorr
  0.65STHAX Ab Sustainable ThematicPairCorr
  0.66STHYX Ab Sustainable ThematicPairCorr
  0.93SCAVX Ab Small CapPairCorr
  0.99SCCVX Ab Small CapPairCorr
  1.0SCRSX Small Cap CorePairCorr
  0.95SCRZX Small Cap CorePairCorr
  0.93SCYVX Ab Small CapPairCorr
  0.95APGZX Ab Large CapPairCorr
  0.98APGYX Ab Large CapPairCorr
  0.98APGAX Ab Large CapPairCorr
  0.98APGCX Ab Large CapPairCorr
  0.99SUTAX Ab Sustainable ThematicPairCorr
  0.95SUTCX Ab Sustainable ThematicPairCorr
  0.99SUTZX Ab Sustainable ThematicPairCorr
  0.99APWIX Ab Servative WealthPairCorr
  0.95CHCLX Ab Discovery GrowthPairCorr
  0.99CHCIX Ab Discovery GrowthPairCorr
  0.95CHCCX Ab Discovery GrowthPairCorr
  0.99CHCYX Ab Discovery GrowthPairCorr

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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