Sp Smallcap Correlations

Mutual Funds . USA . 
Fund . Sp Smallcap Index
SMLKX Fund  USD 20.40  0.22  1.07%   
The current 90-days correlation between Sp Smallcap Index and Intermediate Government Bond is -0.31 (i.e., Very good 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

Almost no diversification

The correlation between Sp Smallcap Index and DJI is 0.91 (i.e., Almost no 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 industry.

Moving together with SMLKX Mutual Fund

  0.96EMSLX Shelton Emerging MarketsPairCorr
  0.96EMSQX Shelton Emerging MarketsPairCorr
  0.73CFNTX California Tax FreePairCorr
  0.98NQQQX Shelton FundsPairCorr
  0.98NASDX Nasdaq 100 IndexPairCorr
  0.95EQTKX Shelton E ValuePairCorr
  0.96EQTIX Shelton E ValuePairCorr
  0.98NDXKX Nasdaq 100 IndexPairCorr
  0.98NEXIX Shelton Green AlphaPairCorr
  0.98NEXTX Shelton Green AlphaPairCorr
  0.95SISEX Shelton InternationalPairCorr
  0.95SISLX Shelton InternationalPairCorr
  1.0SMCIX Sp Smallcap IndexPairCorr
  0.92DEBTX Shelton Tactical CreditPairCorr
  0.92DEBIX Shelton Tactical CreditPairCorr
  0.98SPFIX Sp 500 IndexPairCorr
  0.99SPMIX Sp Midcap IndexPairCorr
  1.0MIDKX Sp Midcap IndexPairCorr
  0.98SPXKX Sp 500 IndexPairCorr
  1.0VSMAX Vanguard Small CapPairCorr
  1.0VSCIX Vanguard Small CapPairCorr
  1.0VSCPX Vanguard Small CapPairCorr
  1.0NAESX Vanguard Small CapPairCorr
  1.0FSSNX Fidelity Small CapPairCorr
  1.0DFSTX Us Small CapPairCorr
  1.0PASVX T Rowe PricePairCorr
  1.0PRVIX T Rowe PricePairCorr
  1.0TRZVX T Rowe PricePairCorr
  1.0PRSVX T Rowe PricePairCorr
  0.98DXQLX Direxion Monthly NasdaqPairCorr
  0.98RYVLX Nasdaq 100 2xPairCorr
  0.98RYVYX Nasdaq 100 2xPairCorr
  0.98UOPIX Ultra Nasdaq 100PairCorr
  0.98RYCCX Nasdaq 100 2xPairCorr
  0.98UOPSX Ultranasdaq 100 ProfundPairCorr
  0.98INPIX Internet UltrasectorPairCorr
  0.97INPSX Internet UltrasectorPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between SMLKX 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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