SP MIDCAP Correlations

Mutual Funds . USA . 
Fund . Sampp Midcap Index
SPMIX Fund  USD 26.23  -0.24  -0.91%   
Current 90-days correlation between Sampp Midcap Index and Fpa Queens Road is 0.83 (i.e., Very poor diversification).The correlation coefficient for SP MIDCAP ranges from -1 to +1. Values above 0.8 suggest strong positive correlation - both assets move together - while values below -0.5 suggest a useful diversification pairing.

Market Correlation - SP MIDCAP

Poor diversification
For the present investment horizon, the measured correlation between SPMIX and DJI stands at 0.69, or Poor diversification. Used correctly, the chart helps investors judge whether adding the second position genuinely diversifies the first.
  
Use World Market Map to better understand diversified portfolio construction. Additional portfolio transparency improves capital positioning. This suggests a position in Sampp Midcap Index in the portfolio view. 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 SPMIX Mutual Fund

  0.86EMSLX Shelton Emerging MarketsPairCorr
  0.86EMSQX Shelton Emerging MarketsPairCorr
  0.86CFNTX California Tax FreePairCorr
  0.9NEXIX Shelton Green AlphaPairCorr
  0.9NEXTX Shelton Green AlphaPairCorr
  0.88SISEX Shelton InternationalPairCorr
  0.88SISLX Shelton InternationalPairCorr
  0.97SMCIX Sampp Smallcap IndexPairCorr
  0.97SMLKX Sampp Smallcap IndexPairCorr
  0.81DEBTX Shelton Tactical CreditPairCorr
  0.81DEBIX Shelton Tactical CreditPairCorr
  0.67CAUKX Us Government SecuritiesPairCorr
  0.67CAUSX Us Government SecuritiesPairCorr
  1.0MIDKX Sampp Midcap IndexPairCorr
  0.94VIMAX Vanguard Mid CapPairCorr
  0.94VIMSX Vanguard Mid CapPairCorr
  0.94VMCPX Vanguard Mid CapPairCorr
  0.94VMCIX Vanguard Mid CapPairCorr
  0.69VEXAX Vanguard Extended MarketPairCorr
  0.69VEMPX Vanguard Extended MarketPairCorr
  0.69VIEIX Vanguard Extended MarketPairCorr
  0.68VEXMX Vanguard Extended MarketPairCorr
  0.99FSMDX Fidelity Mid CapPairCorr
  0.79BRUFX Bruce Fund BrucePairCorr
  0.75KF Korea ClosedPairCorr
  0.81MPA BlackRock MuniyieldPairCorr
  0.93DFLVX Us Large CapPairCorr
  0.84SIDNX Hartford SchrodersPairCorr
  0.85PLMAX PIMCO Emerging MarketsPairCorr
  0.88COSZX Columbia Overseas ValuePairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

There is a big difference between SPMIX Mutual Fund performing well and SP MIDCAP Mutual Fund doing well as a business compared to the competition. Risk-adjusted metrics allow investors to compare SP MIDCAP's efficiency and downside exposure against peers in a more meaningful way. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

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