Ultrasmall Cap Correlations

UAPIX Fund

USD 78.58 1.28 1.60%

The current 90-days correlation between Ultrasmall Cap Profund and Morningstar Defensive Bond is 0.1 (i.e., Average diversification). The correlation of Ultrasmall 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.

Ultrasmall Cap Correlation With Market

Poor diversification

The correlation between Ultrasmall Cap Profund Ultrasm and DJI is 0.75 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ultrasmall Cap Profund Ultrasm 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 Ultrasmall Cap Profund Ultrasmall Cap. 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 Ultrasmall Mutual Fund

0.63	LGPSX	Profunds Large Cap	Pair Corr
0.68	MLPSX	Mid Cap Value	Pair Corr
0.86	MLPIX	Mid Cap Value	Pair Corr
0.69	ULPIX	Ultrabull Profund	Pair Corr
0.69	ULPSX	Ultrabull Profund	Pair Corr
0.66	CYPSX	Consumer Services	Pair Corr
0.67	CYPIX	Consumer Services	Pair Corr
0.84	SVPIX	Small Cap Value	Pair Corr
0.85	SVPSX	Small Cap Value	Pair Corr
0.89	UMPSX	Ultramid Cap Profund	Pair Corr
0.89	UMPIX	Ultramid Cap Profund	Pair Corr

Moving against Ultrasmall Mutual Fund

0.9	UIPIX	Ultrashort Mid Cap	Pair Corr
0.71	UIPSX	Ultrashort Mid Cap	Pair Corr
0.71	BRPIX	Bear Profund Bear	Pair Corr
0.69	BRPSX	Bear Profund Bear	Pair Corr

Related Correlations Analysis

	MSTBX	RGVAX	0P000070L2	PCMNX	ARTFX	PRINX	TBGAX	BBINX
MSTBX		0.73	0.82	0.86	-0.01	0.73	0.82	0.79	MSTBX
RGVAX	0.73		0.54	0.71	0.07	0.68	0.76	0.68	RGVAX
0P000070L2	0.82	0.54		0.83	0.09	0.73	0.8	0.79	0P000070L2
PCMNX	0.86	0.71	0.83		0.1	0.95	0.98	0.97	PCMNX
ARTFX	-0.01	0.07	0.09	0.1		0.16	0.14	0.13	ARTFX
PRINX	0.73	0.68	0.73	0.95	0.16		0.96	0.98	PRINX
TBGAX	0.82	0.76	0.8	0.98	0.14	0.96		0.97	TBGAX
BBINX	0.79	0.68	0.79	0.97	0.13	0.98	0.97		BBINX
	MSTBX	RGVAX	0P000070L2	PCMNX	ARTFX	PRINX	TBGAX	BBINX

Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

TBGAX	+ 0.98	PCMNX
BBINX	+ 0.98	PRINX
BBINX	+ 0.97	PCMNX
BBINX	+ 0.97	TBGAX
TBGAX	+ 0.96	PRINX
PRINX	+ 0.95	PCMNX

High negative correlations

ARTFX

- 0.01

MSTBX

Risk-Adjusted Indicators

There is a big difference between Ultrasmall Mutual Fund performing well and Ultrasmall 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 Ultrasmall 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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
MSTBX	0.07	0.00	(0.60)	0.04	0.00	(0.14)	0.20	(0.10)	0.41
RGVAX	0.13	(0.01)	(0.41)	(2.25)	0.14	(0.17)	0.25	(0.25)	0.83
0P000070L2	0.03	0.01	0.00	(2.77)	0.00	0.00	0.00	0.00	0.40
PCMNX	0.06	0.01	(0.56)	1.57	0.00	(0.10)	0.16	(0.08)	0.33
ARTFX	0.08	(0.01)	(0.52)	(0.09)	0.09	(0.17)	0.22	(0.22)	0.76
PRINX	0.09	0.01	(0.42)	0.70	0.00	(0.15)	0.27	(0.18)	0.72
TBGAX	0.10	0.01	(0.39)	4.49	0.00	(0.15)	0.28	(0.18)	0.74
BBINX	0.06	0.00	(0.62)	0.02	0.00	(0.13)	0.10	(0.10)	0.58

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