Sp Smallcap Correlations

Mutual Funds . USA . 
Fund . Sp Smallcap Index
SMCIX Fund  USD 21.31  0.23  1.07%   
The current 90-days correlation between Sp Smallcap Index and Sp Midcap Index is 0.98 (i.e., Almost no diversification). The correlation of Sp Smallcap 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 Smallcap Correlation With Market

Very good diversification

The correlation between Sp Smallcap Index and DJI is -0.4 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sp Smallcap Index 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 Sp Smallcap 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 gross domestic product.

Moving together with SMCIX Mutual Fund

  0.95EMSLX Shelton Emerging MarketsPairCorr
  0.61EMSQX Shelton Emerging MarketsPairCorr
  0.73CFNTX California Tax FreePairCorr
  0.98NQQQX Shelton FundsPairCorr
  0.98NASDX Nasdaq 100 IndexPairCorr
  0.62EQTKX Shelton E ValuePairCorr
  0.96EQTIX Shelton E ValuePairCorr
  0.95NDXKX Nasdaq 100 IndexPairCorr
  0.98NEXTX Shelton Green AlphaPairCorr
  0.94SISEX Shelton InternationalPairCorr
  0.94SISLX Shelton InternationalPairCorr
  0.92DEBIX Shelton Tactical CreditPairCorr
  0.98SPFIX Sp 500 IndexPairCorr
  1.0SPMIX Sp Midcap IndexPairCorr
  1.0VSMAX Vanguard Small CapPairCorr
  1.0VSCIX Vanguard Small CapPairCorr
  1.0VSCPX Vanguard Small CapPairCorr
  0.95NAESX Vanguard Small CapPairCorr
  1.0FSSNX Fidelity Small CapPairCorr
  1.0DFSTX Us Small CapPairCorr
  0.95PASVX T Rowe PricePairCorr
  1.0PRVIX T Rowe PricePairCorr
  0.95TRZVX T Rowe PricePairCorr
  1.0PRSVX T Rowe PricePairCorr
  0.95DXQLX Direxion Monthly NasdaqPairCorr
  0.98RYVLX Nasdaq 100 2xPairCorr
  0.98RYVYX Nasdaq 100 2xPairCorr
  0.95UOPIX Ultra Nasdaq 100PairCorr
  0.95RYCCX Nasdaq 100 2xPairCorr
  0.95UOPSX Ultranasdaq 100 ProfundPairCorr
  0.95INPIX Internet UltrasectorPairCorr
  0.98INPSX Internet UltrasectorPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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