Scout Small Correlations

Mutual Funds . USA . 
Fund . Scout Small Cap
UMBHX Fund  USD 32.51  0.64  2.01%   
The current 90-days correlation between Scout Small Cap and Pgim Jennison Technology is -0.23 (i.e., Very good diversification). The correlation of Scout Small 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.

Scout Small Correlation With Market

Poor diversification

The correlation between Scout Small Cap and DJI is 0.72 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Scout Small Cap 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 Scout Small 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 census.

Moving together with Scout Mutual Fund

  0.94CWFIX Chartwell Short DurationPairCorr
  0.91CWFCX Carillon Chartwell ShortPairCorr
  0.92CWFAX Chartwell Short DurationPairCorr
  0.92CWFRX Carillon Chartwell ShortPairCorr
  0.92HIGCX Eagle Growth IncomePairCorr
  0.95HIGJX Eagle Growth IncomePairCorr
  0.95HIGUX Eagle Growth IncomePairCorr
  1.0CWSGX Chartwell Small CapPairCorr
  0.93CWSAX Carillon Chartwell SmallPairCorr
  0.95CWSBX Carillon Chartwell SmallPairCorr
  0.95CWSRX Columbia Large CapPairCorr
  0.92SCCIX Scout E BondPairCorr
  0.93SUBTX Carillon Reams UnconPairCorr
  0.94SUBDX Carillon Reams UnconPairCorr
  0.93SUBFX Scout Unconstrained BondPairCorr
  0.93SUBEX Carillon Reams UnconPairCorr
  0.92SCPEX Carillon Reams CorePairCorr
  0.92SCPDX Carillon Reams CorePairCorr
  0.92SCPWX Carillon Reams CorePairCorr
  0.92SCPZX Scout E PlusPairCorr
  0.89UMBMX Scout Mid CapPairCorr
  0.96BERSX Carillon Chartwell RealPairCorr
  0.97BERIX Berwyn IncomePairCorr
  0.96BERGX Carillon Chartwell RealPairCorr
  0.96BERHX Carillon Chartwell RealPairCorr
  0.95HRCCX Eagle Capital ApprecPairCorr
  0.95HRCIX Eagle Capital ApprecPairCorr
  0.92HRCPX Eagle Capital ApprecPairCorr
  0.95HRCUX Eagle Capital ApprecPairCorr
  0.93HRCVX Eagle Growth IncomePairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

There is a big difference between Scout Mutual Fund performing well and Scout Small 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 Scout Small'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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