Century Small Correlations

CSMCX Fund

USD 49.66 0.49 1.00%

The current 90-days correlation between Century Small Cap and Third Avenue Real is 0.63 (i.e., Poor diversification). The correlation of Century 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.

Century Small Correlation With Market

Very poor diversification

The correlation between Century Small Cap and DJI is 0.81 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Century 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 Century 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 main economic indicators.

Moving together with Century Mutual Fund

0.94	IMIDX	Congress Mid Cap	Pair Corr
0.94	CMIDX	Congress Mid Cap	Pair Corr
0.92	CMLIX	Congress Large Cap	Pair Corr
0.92	CAMLX	Congress Large Cap	Pair Corr
1.0	CSMVX	Century Small Cap	Pair Corr
0.97	VSGAX	Vanguard Small Cap	Pair Corr
0.97	VSGIX	Vanguard Small Cap	Pair Corr
0.97	VISGX	Vanguard Small Cap	Pair Corr
0.99	VEXPX	Vanguard Explorer	Pair Corr
0.99	VEXRX	Vanguard Explorer	Pair Corr
0.74	JGMIX	Janus Triton	Pair Corr
0.71	JGMRX	Janus Triton	Pair Corr
0.74	JGMAX	Janus Triton	Pair Corr
0.67	JGMCX	Janus Triton	Pair Corr
0.78	JGMNX	Janus Triton	Pair Corr
0.89	BTCVX	Cboe Vest Bitcoin	Pair Corr
0.91	AMGOX	Alger Mid Cap	Pair Corr
0.88	VFINX	Vanguard 500 Index	Pair Corr
0.89	FZROX	Fidelity Zero Total	Pair Corr
0.9	ELFNX	Elfun Trusts Elfun	Pair Corr
0.68	HIX	Western Asset High	Pair Corr
0.66	FSUTX	Utilities Portfolio	Pair Corr
0.87	CLM	Cornerstone Strategic	Pair Corr
0.61	AHYDX	High Yield Fund	Pair Corr
0.76	RGGEX	American Funds Global	Pair Corr
0.89	GVCAX	Gabelli Value	Pair Corr
0.73	AMECX	Income Fund	Pair Corr
0.94	FIVUX	First Investors Oppo	Pair Corr

Moving against Century Mutual Fund

0.51	NHS	Neuberger Berman High	Pair Corr
0.42	PFHCX	Pacific Funds Small	Pair Corr

Related Correlations Analysis

	TAREX	AVALX	MSILX	MGRIX	CSMCX
TAREX		0.25	-0.53	0.88	0.95	TAREX
AVALX	0.25		-0.1	0.41	0.35	AVALX
MSILX	-0.53	-0.1		-0.5	-0.54	MSILX
MGRIX	0.88	0.41	-0.5		0.92	MGRIX
CSMCX	0.95	0.35	-0.54	0.92		CSMCX
	TAREX	AVALX	MSILX	MGRIX	CSMCX

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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

CSMCX	+ 0.95	TAREX
CSMCX	+ 0.92	MGRIX
MGRIX	+ 0.88	TAREX
MGRIX	+ 0.41	AVALX
CSMCX	+ 0.35	AVALX
AVALX	+ 0.25	TAREX

High negative correlations

CSMCX	- 0.54	MSILX
MSILX	- 0.53	TAREX
MGRIX	- 0.5	MSILX
MSILX	- 0.1	AVALX

Risk-Adjusted Indicators

There is a big difference between Century Mutual Fund performing well and Century 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 Century 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
TAREX	0.70	0.02	0.01	0.14	0.63	(0.81)	1.57	(1.22)	5.18
AVALX	0.78	0.10	0.03	0.40	0.75	(0.90)	2.22	(1.49)	4.84
MSILX	0.65	(0.05)	(0.13)	0.00	0.87	(0.59)	1.12	(1.38)	3.79
MGRIX	0.71	0.14	0.13	0.29	0.60	(0.79)	1.75	(1.25)	4.82
CSMCX	0.86	0.07	0.10	0.17	0.71	(0.91)	1.96	(1.33)	6.41

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