Conestoga Micro Correlations

Mutual Funds . USA . 
Fund . Conestoga Micro Cap
CMCMX Fund  USD 8.34  0.02  0.24%   
The current 90-days correlation between Conestoga Micro Cap and Jhancock Diversified Macro is 0.31 (i.e., Weak diversification). The correlation of Conestoga Micro 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 Micro Correlation With Market

Poor diversification

The correlation between Conestoga Micro Cap and DJI is 0.73 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Conestoga Micro 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 Micro 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 population.

Moving together with Conestoga Mutual Fund

  1.0CMIRX Conestoga Micro CapPairCorr
  0.93CCASX Conestoga Small CapPairCorr
  0.96CCALX Conestoga Small CapPairCorr
  0.83CCMMX Conestoga Mid CapPairCorr
  0.83CCMAX Columbia Large CapPairCorr
  0.96CCSMX Conestoga Smid CapPairCorr
  0.96CCSGX Conestoga Smid CapPairCorr
  0.96VSGAX Vanguard Small CapPairCorr
  0.96VSGIX Vanguard Small CapPairCorr
  0.96VISGX Vanguard Small CapPairCorr
  0.95VEXPX Vanguard ExplorerPairCorr
  0.95VEXRX Vanguard ExplorerPairCorr
  0.64JGMIX Janus TritonPairCorr
  0.62JGMRX Janus TritonPairCorr
  0.65JGMAX Janus TritonPairCorr
  0.69JGMNX Janus TritonPairCorr
  0.86DXQLX Direxion Monthly NasdaqPairCorr
  0.86RYVLX Nasdaq 100 2xPairCorr
  0.81RYVYX Nasdaq 100 2xPairCorr
  0.85UOPIX Ultra Nasdaq 100PairCorr
  0.86RYCCX Nasdaq 100 2xPairCorr
  0.86UOPSX Ultranasdaq 100 ProfundPairCorr
  0.92INPIX Internet UltrasectorPairCorr
  0.92INPSX Internet UltrasectorPairCorr
  0.86VFINX Vanguard 500 IndexPairCorr
  0.68RGGEX American Funds GlobalPairCorr
  0.64AMECX Income FundPairCorr
  0.69HIX Western Asset HighPairCorr
  0.88ELFNX Elfun Trusts ElfunPairCorr
  0.67HD Home DepotPairCorr
  0.74TRV The Travelers Companies Fiscal Year End 17th of January 2025 PairCorr

Moving against Conestoga Mutual Fund

  0.64MRK Merck Company Fiscal Year End 6th of February 2025 PairCorr
  0.32TGLDX Tocqueville GoldPairCorr

Related Correlations Analysis

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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   
DSCPX
+ 0.99
PASVX
WMCVX
+ 0.98
PASVX
DSCPX
+ 0.97
WMCVX
DSCPX
+ 0.88
ODIDX
ODIDX
+ 0.87
PASVX
WMCVX
+ 0.8
ODIDX
  
High negative correlations   
FZABX
- 0.48
ODIDX
FZABX
- 0.44
PASVX
FZABX
- 0.42
DSCPX
FZABX
- 0.36
WMCVX
WMCVX
- 0.18
JDJRX
ODIDX
- 0.18
JDJRX

Risk-Adjusted Indicators

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