Copeland Smid Correlations

CSDGX Fund

USD 16.37 0.02 0.12%

The current 90-days correlation between Copeland Smid Cap and Copeland Risk Managed is 0.55 (i.e., Very weak diversification). The correlation of Copeland Smid 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.

Copeland Smid Correlation With Market

Very poor diversification

The correlation between Copeland Smid Cap and DJI is 0.88 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Copeland Smid 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 Copeland Smid 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 price.

Moving together with Copeland Mutual Fund

0.63	CDCRX	Copeland Risk Managed	Pair Corr
0.67	CDGRX	Copeland Risk Managed	Pair Corr
0.66	CDIVX	Copeland Risk Managed	Pair Corr
1.0	CSMDX	Copeland Smid Cap	Pair Corr
0.89	VSMAX	Vanguard Small Cap	Pair Corr
0.89	VSCIX	Vanguard Small Cap	Pair Corr
0.94	VSCPX	Vanguard Small Cap	Pair Corr
0.94	NAESX	Vanguard Small Cap	Pair Corr
0.9	FSSNX	Fidelity Small Cap	Pair Corr
0.9	DFSTX	Us Small Cap	Pair Corr
0.95	PASVX	T Rowe Price	Pair Corr
0.9	PRVIX	T Rowe Price	Pair Corr
0.94	TRZVX	T Rowe Price	Pair Corr
0.95	PRSVX	T Rowe Price	Pair Corr
0.85	KMKCX	Kinetics Market Oppo	Pair Corr
0.86	KNPAX	Kinetics Paradigm	Pair Corr
0.86	KNPCX	Kinetics Paradigm	Pair Corr
0.86	KNPYX	Kinetics Paradigm	Pair Corr
0.86	LSHCX	Horizon Spin Off Downward Rally	Pair Corr
0.86	WWNPX	Kinetics Paradigm	Pair Corr
0.87	LSHUX	Horizon Spin Off Downward Rally	Pair Corr
0.85	KMKAX	Kinetics Market Oppo	Pair Corr
0.82	FCNTX	Fidelity Contrafund	Pair Corr
0.76	PFLLX	Putnam Floating Rate	Pair Corr
0.76	NSBFX	Nuveen Santa Barbara	Pair Corr
0.92	DFMAX	Davidson Multi Cap	Pair Corr
0.75	TNHIX	1290 High Yield	Pair Corr
0.88	PLFIX	Largecap Sp 500	Pair Corr
0.65	UCAGX	Cornerstone Aggressive	Pair Corr
0.67	PGAIX	Pimco Global Multi	Pair Corr
0.81	VIGAX	Vanguard Growth Index	Pair Corr
0.89	GMAWX	Gmo Small Cap	Pair Corr
0.83	FLCNX	Fidelity Contrafund	Pair Corr

Moving against Copeland Mutual Fund

0.5	CISAX	Copeland International	Pair Corr
0.49	CSIIX	Columbia Small Cap	Pair Corr

Related Correlations Analysis

	CDCRX	CDGRX	CDIVX	CISAX	CSDGX	CSIIX	CSMDX
CDCRX		1.0	1.0	-0.12	0.63	-0.12	0.64	CDCRX
CDGRX	1.0		1.0	-0.15	0.67	-0.15	0.68	CDGRX
CDIVX	1.0	1.0		-0.15	0.66	-0.15	0.67	CDIVX
CISAX	-0.12	-0.15	-0.15		-0.5	1.0	-0.49	CISAX
CSDGX	0.63	0.67	0.66	-0.5		-0.49	1.0	CSDGX
CSIIX	-0.12	-0.15	-0.15	1.0	-0.49		-0.49	CSIIX
CSMDX	0.64	0.68	0.67	-0.49	1.0	-0.49		CSMDX
	CDCRX	CDGRX	CDIVX	CISAX	CSDGX	CSIIX	CSMDX

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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

CDGRX	+ 1.0	CDCRX
CDIVX	+ 1.0	CDCRX
CDIVX	+ 1.0	CDGRX
CSIIX	+ 1.0	CISAX
CSMDX	+ 1.0	CSDGX
CSMDX	+ 0.68	CDGRX

High negative correlations

CSDGX	- 0.5	CISAX
CSMDX	- 0.49	CSIIX
CSIIX	- 0.49	CSDGX
CSMDX	- 0.49	CISAX
CSIIX	- 0.15	CDIVX
CISAX	- 0.15	CDIVX

Risk-Adjusted Indicators

There is a big difference between Copeland Mutual Fund performing well and Copeland Smid 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 Copeland Smid'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
CDCRX	0.74	(0.23)	0.00	(0.11)	0.00	0.00	1.07	(1.11)	15.58
CDGRX	0.72	(0.21)	0.00	(0.10)	0.00	0.00	1.09	(1.03)	14.85
CDIVX	0.73	(0.22)	0.00	(0.10)	0.00	0.00	1.11	(1.04)	15.08
CISAX	0.65	(0.14)	0.00	(0.19)	0.00	0.00	1.38	(1.22)	5.19
CSDGX	0.67	(0.06)	(0.06)	0.06	0.69	(0.75)	1.56	(1.12)	5.70
CSIIX	0.65	(0.13)	0.00	(0.18)	0.00	0.00	1.38	(1.18)	5.18
CSMDX	0.68	(0.06)	(0.06)	0.06	0.69	(0.76)	1.55	(1.11)	5.84

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