Small Company Correlations

Mutual Funds . USA . 
Fund . Small Pany Fund
FOSCX Fund  USD 34.82  0.07  0.20%   
The current 90-days correlation between Small Pany Fund and International Fund International is 0.64 (i.e., Poor diversification). The correlation of Small Company 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.

Small Company Correlation With Market

Very poor diversification

The correlation between Small Pany Fund and DJI is 0.89 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Small Pany Fund and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Small Pany Fund. 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 Small Mutual Fund

  0.96FSMBX Tributary Smallmid CapPairCorr
  0.96FSMCX Tributary Smallmid CapPairCorr
  0.87FOBAX Balanced Fund InstitPairCorr
  0.87FOBPX Balanced Fund InstitPairCorr
  1.0FOSBX Small Pany FundPairCorr
  0.95VSMAX Vanguard Small CapPairCorr
  0.95VSCIX Vanguard Small CapPairCorr
  0.95VSCPX Vanguard Small CapPairCorr
  0.95NAESX Vanguard Small CapPairCorr
  0.97FSSNX Fidelity Small CapPairCorr
  0.97DFSTX Us Small CapPairCorr
  0.97PASVX T Rowe PricePairCorr
  0.97PRVIX T Rowe PricePairCorr
  0.96TRZVX T Rowe PricePairCorr
  0.97PRSVX T Rowe PricePairCorr
  0.81SPGSX State Street PremierPairCorr
  0.86CII Blackrock EnhancedPairCorr
  0.76BDJ Blackrock Enhanced EquityPairCorr
  0.88VFIAX Vanguard 500 IndexPairCorr
  0.88VFINX Vanguard 500 IndexPairCorr
  0.82BAC Bank of America Aggressive PushPairCorr
  0.79CSCO Cisco Systems Sell-off TrendPairCorr
  0.76AA Alcoa Corp Fiscal Year End 15th of January 2025 PairCorr
  0.67HPQ HP IncPairCorr

Moving against Small Mutual Fund

  0.51FOIPX Income Fund InstitutionalPairCorr
  0.51FOINX Income Fund InstitutionalPairCorr
  0.66KF Korea ClosedPairCorr
  0.61KO Coca Cola Aggressive PushPairCorr
  0.59MRK Merck Company Fiscal Year End 6th of February 2025 PairCorr
  0.49BA Boeing Fiscal Year End 29th of January 2025 PairCorr

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   
GTLLX
+ 0.97
FOBAX
FOBAX
+ 0.95
PARMX
GTLLX
+ 0.94
PARMX
PARMX
+ 0.38
FMIJX
FOBAX
+ 0.32
FMIJX
GTLLX
+ 0.3
FMIJX
  
High negative correlations   
GTLLX
- 0.3
FOSIX
FOSIX
- 0.26
FOBAX
FOSIX
- 0.14
PARMX

Risk-Adjusted Indicators

There is a big difference between Small Mutual Fund performing well and Small Company 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 Small Company'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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