Adirondack Small Correlations

ADKSX Fund

USD 31.49 0.45 1.41%

The current 90-days correlation between Adirondack Small Cap and Gateway Equity Call is 0.73 (i.e., Poor diversification). The correlation of Adirondack 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.

Adirondack Small Correlation With Market

Average diversification

The correlation between Adirondack Small Cap and DJI is 0.14 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Adirondack Small Cap and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Adirondack 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 state.

Moving together with Adirondack Mutual Fund

0.84	VSIIX	Vanguard Small Cap	Pair Corr
0.84	VISVX	Vanguard Small Cap	Pair Corr
0.87	DFSVX	Us Small Cap	Pair Corr
0.9	DFFVX	Us Targeted Value	Pair Corr
0.62	AVFIX	American Beacon Small	Pair Corr
0.8	RUSIX	Rbc Ultra Short	Pair Corr
0.98	RSMMX	Victory Rs Small	Pair Corr
0.95	FCSZX	Franklin Vertible	Pair Corr
0.94	TOECX	Mid Cap Growth	Pair Corr
0.92	DIVPX	Mai Managed Volatility	Pair Corr
0.94	LGLAX	Lord Abbett Growth	Pair Corr
0.97	SSMLX	State Street Smallmid	Pair Corr
0.81	BTEKX	Blackrock Technology	Pair Corr
0.86	FFRCX	Fidelity Advisor Floating	Pair Corr
0.66	PEIPX	Equity Income	Pair Corr
0.97	ALMRX	Alger Midcap Growth	Pair Corr
0.9	ELFNX	Elfun Trusts Elfun	Pair Corr
0.91	CLM	Cornerstone Strategic	Pair Corr
0.79	ODIDX	Oaktree Diversifiedome Potential Growth	Pair Corr
0.89	JGLTX	Global Technology	Pair Corr
0.98	PGWIX	Midcap Growth	Pair Corr
0.99	RSGFX	Victory Rs Select	Pair Corr
0.87	FFRIX	Fidelity Advisor Floating	Pair Corr

Moving against Adirondack Mutual Fund

0.75

CIFRX

Columbia Porate Income

Pair Corr

Related Correlations Analysis

	ADKSX	GCPYX	LMCJX	PRGTX	FRSAX	PNDIX	STCAX	BFTHX	ALBAX	FLOCX
ADKSX		0.94	0.97	0.84	0.85	0.72	0.89	0.93	0.86	0.78	ADKSX
GCPYX	0.94		0.93	0.95	0.81	0.76	0.98	0.97	0.95	0.8	GCPYX
LMCJX	0.97	0.93		0.83	0.91	0.81	0.88	0.92	0.81	0.81	LMCJX
PRGTX	0.84	0.95	0.83		0.7	0.72	0.98	0.95	0.94	0.75	PRGTX
FRSAX	0.85	0.81	0.91	0.7		0.85	0.76	0.82	0.65	0.76	FRSAX
PNDIX	0.72	0.76	0.81	0.72	0.85		0.76	0.79	0.6	0.7	PNDIX
STCAX	0.89	0.98	0.88	0.98	0.76	0.76		0.97	0.94	0.79	STCAX
BFTHX	0.93	0.97	0.92	0.95	0.82	0.79	0.97		0.9	0.82	BFTHX
ALBAX	0.86	0.95	0.81	0.94	0.65	0.6	0.94	0.9		0.72	ALBAX
FLOCX	0.78	0.8	0.81	0.75	0.76	0.7	0.79	0.82	0.72		FLOCX
	ADKSX	GCPYX	LMCJX	PRGTX	FRSAX	PNDIX	STCAX	BFTHX	ALBAX	FLOCX

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Risk-Adjusted Indicators

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

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
ADKSX	0.79	0.12	0.10	0.56	0.83	(0.89)	1.59	(1.41)	9.44
GCPYX	0.36	0.05	0.04	0.63	0.57	(0.38)	0.76	(0.85)	4.03
LMCJX	0.85	0.12	0.11	0.77	0.85	(1.10)	2.07	(1.32)	9.09
PRGTX	0.88	0.10	0.06	1.01	1.19	(0.95)	1.71	(2.21)	5.14
FRSAX	0.06	0.01	(0.12)	0.35	0.00	(0.21)	0.12	(0.12)	0.70
PNDIX	0.05	0.00	0.00	(0.06)	0.00	0.00	0.10	0.00	0.70
STCAX	0.71	0.10	0.06	1.17	1.04	(0.69)	1.52	(1.57)	5.52
BFTHX	0.95	0.18	0.11	2.27	1.25	(0.99)	1.97	(1.75)	7.03
ALBAX	0.55	0.04	0.03	0.89	0.79	(0.53)	1.00	(1.02)	5.02
FLOCX	0.06	(0.01)	0.00	(2.94)	0.00	0.00	0.11	(0.10)	1.46

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