Conestoga Small Correlations

Mutual Funds . USA . 
Fund . Conestoga Small Cap
CCALX Fund  USD 84.86  0.34  0.40%   
The current 90-days correlation between Conestoga Small Cap and Conestoga Small Cap is 0.16 (i.e., Average diversification). The correlation of Conestoga 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.

Conestoga Small Correlation With Market

Very poor diversification

The correlation between Conestoga Small Cap and DJI is 0.84 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Conestoga 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 Conestoga 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 bureau of economic analysis.

Moving together with Conestoga Mutual Fund

  0.94CMCMX Conestoga Micro CapPairCorr
  0.96CMIRX Conestoga Micro CapPairCorr
  0.97CCASX Conestoga Small CapPairCorr
  0.79CCMMX Conestoga Mid CapPairCorr
  0.8CCMAX Columbia Large CapPairCorr
  1.0CCSMX Conestoga Smid CapPairCorr
  1.0CCSGX Conestoga Smid CapPairCorr
  0.98VSGAX Vanguard Small CapPairCorr
  0.98VSGIX Vanguard Small CapPairCorr
  0.98VISGX Vanguard Small CapPairCorr
  0.99VEXPX Vanguard ExplorerPairCorr
  0.99VEXRX Vanguard ExplorerPairCorr
  0.66JGMIX Janus TritonPairCorr
  0.64JGMRX Janus TritonPairCorr
  0.67JGMAX Janus TritonPairCorr
  0.71JGMNX Janus TritonPairCorr
  0.9DXQLX Direxion Monthly NasdaqPairCorr
  0.89RYVLX Nasdaq 100 2xPairCorr
  0.85RYVYX Nasdaq 100 2xPairCorr
  0.89UOPIX Ultra Nasdaq 100PairCorr
  0.89RYCCX Nasdaq 100 2xPairCorr
  0.89UOPSX Ultranasdaq 100 ProfundPairCorr
  0.93INPIX Internet Ultrasector Steady GrowthPairCorr
  0.93INPSX Internet Ultrasector Steady GrowthPairCorr
  0.9VFINX Vanguard 500 IndexPairCorr
  0.75RGGEX American Funds GlobalPairCorr
  0.71AMECX Income FundPairCorr
  0.7HIX Western Asset HighPairCorr
  0.92ELFNX Elfun Trusts ElfunPairCorr
  0.74HD Home DepotPairCorr
  0.72TRV The Travelers Companies Fiscal Year End 17th of January 2025 PairCorr

Moving against Conestoga Mutual Fund

  0.7MRK Merck Company Fiscal Year End 6th of February 2025 PairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Conestoga Mutual Fund performing well and Conestoga 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 Conestoga 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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