Mid Capitalization Correlations

SMIPX Fund

USD 14.23 0.08 0.56%

The current 90-days correlation between Mid Capitalization and Columbia Global Technology is -0.1 (i.e., Good diversification). The correlation of Mid Capitalization 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.

Mid Capitalization Correlation With Market

Good diversification

The correlation between Mid Capitalization Portfolio and DJI is -0.08 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mid Capitalization Portfolio 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 Mid Capitalization Portfolio. 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 american community survey.

Moving together with Mid Mutual Fund

0.89	VIMSX	Vanguard Mid Cap	Pair Corr
0.9	VMCPX	Vanguard Mid Cap	Pair Corr
0.89	VMCIX	Vanguard Mid Cap	Pair Corr
0.89	VEXAX	Vanguard Extended Market	Pair Corr
0.89	VEMPX	Vanguard Extended Market	Pair Corr
0.89	VIEIX	Vanguard Extended Market	Pair Corr
0.89	VSEMX	Vanguard Extended Market	Pair Corr
0.89	VEXMX	Vanguard Extended Market	Pair Corr
0.89	FSMAX	Fidelity Extended Market	Pair Corr
0.89	SIVIX	State Street Institu	Pair Corr
0.81	TEQAX	Touchstone Sustainability	Pair Corr
0.64	CSCO	Cisco Systems	Pair Corr
0.63	CVX	Chevron Corp	Pair Corr
0.62	CAT	Caterpillar	Pair Corr
0.61	AA	Alcoa Corp Earnings Call This Week	Pair Corr

Moving against Mid Mutual Fund

0.6	KO	Coca Cola Earnings Call This Week	Pair Corr
0.47	PG	Procter Gamble	Pair Corr
0.32	VZ	Verizon Communications Earnings Call This Week	Pair Corr

Related Correlations Analysis

	CMTFX	ICTEX	ITYYX	BSTSX	GISTX	USTCX	TEPIX
CMTFX		0.99	1.0	1.0	1.0	1.0	1.0	CMTFX
ICTEX	0.99		0.99	0.99	0.99	0.99	0.99	ICTEX
ITYYX	1.0	0.99		1.0	1.0	1.0	1.0	ITYYX
BSTSX	1.0	0.99	1.0		1.0	1.0	1.0	BSTSX
GISTX	1.0	0.99	1.0	1.0		1.0	0.99	GISTX
USTCX	1.0	0.99	1.0	1.0	1.0		0.99	USTCX
TEPIX	1.0	0.99	1.0	1.0	0.99	0.99		TEPIX
	CMTFX	ICTEX	ITYYX	BSTSX	GISTX	USTCX	TEPIX

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Risk-Adjusted Indicators

There is a big difference between Mid Mutual Fund performing well and Mid Capitalization 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 Mid Capitalization'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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
CMTFX	1.25	0.18	0.19	0.36	1.01	(1.50)	3.02	(1.82)	18.13
ICTEX	1.12	0.08	0.09	0.31	0.89	(1.33)	2.85	(1.80)	13.78
ITYYX	1.22	0.21	0.21	0.40	0.87	(1.48)	2.98	(2.25)	16.38
BSTSX	1.23	0.19	0.19	0.38	0.91	(1.49)	2.96	(1.76)	17.40
GISTX	1.21	0.17	0.17	0.36	0.94	(1.55)	3.03	(1.87)	17.58
USTCX	1.23	0.19	0.16	0.39	1.04	(1.38)	3.36	(2.02)	15.50
TEPIX	1.86	0.26	0.23	0.35	1.71	(2.28)	4.42	(3.26)	27.33

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