Jacob Small Correlations

JSCGX Fund

USD 22.15 0.17 0.76%

The current 90-days correlation between Jacob Small Cap and Jacob Micro Cap is 0.89 (i.e., Very poor diversification). The correlation of Jacob 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.

Jacob Small Correlation With Market

Very weak diversification

The correlation between Jacob Small Cap and DJI is 0.56 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Jacob Small Cap and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Jacob 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 price.

Moving together with Jacob Mutual Fund

0.96	JAMFX	Jacob Internet	Pair Corr
1.0	JSIGX	Jacob Small Cap	Pair Corr
0.98	JMCGX	Jacob Micro Cap	Pair Corr
0.94	VSGAX	Vanguard Small Cap	Pair Corr
0.94	VSGIX	Vanguard Small Cap	Pair Corr
0.94	VISGX	Vanguard Small Cap	Pair Corr
0.92	VEXPX	Vanguard Explorer	Pair Corr
0.92	VEXRX	Vanguard Explorer	Pair Corr
0.92	TNHIX	1290 High Yield	Pair Corr
0.93	PRWAX	T Rowe Price	Pair Corr
0.88	DFSVX	Us Small Cap	Pair Corr
0.87	ADX	Adams Diversified Equity	Pair Corr
0.76	TFBRX	American Beacon Twen	Pair Corr
0.87	VFIAX	Vanguard 500 Index	Pair Corr
0.7	DMO	Western Asset Mortgage	Pair Corr
0.87	VFINX	Vanguard 500 Index	Pair Corr
0.86	CRF	Cornerstone Strategic	Pair Corr
0.77	PGAIX	Pimco Global Multi	Pair Corr
0.73	NSBFX	Nuveen Santa Barbara	Pair Corr
0.71	FMAGX	Fidelity Magellan	Pair Corr
0.94	GAB	Gabelli Equity Trust	Pair Corr
0.72	MKCPX	Blackrock Balanced	Pair Corr
0.91	VIGIX	Vanguard Growth Index	Pair Corr
0.8	DODGX	Dodge Stock Fund	Pair Corr
0.87	FLCNX	Fidelity Contrafund	Pair Corr
0.74	JHEIX	Equity Income	Pair Corr
0.73	NEXTX	Shelton Green Alpha	Pair Corr

Moving against Jacob Mutual Fund

0.45	NHS	Neuberger Berman High	Pair Corr
0.43	PFHCX	Pacific Funds Small	Pair Corr

Related Correlations Analysis

	JMCGX	JAMFX	JFWD	OBSOX	NESGX
JMCGX		0.97	0.98	0.79	0.89	JMCGX
JAMFX	0.97		0.98	0.73	0.84	JAMFX
JFWD	0.98	0.98		0.81	0.89	JFWD
OBSOX	0.79	0.73	0.81		0.93	OBSOX
NESGX	0.89	0.84	0.89	0.93		NESGX
	JMCGX	JAMFX	JFWD	OBSOX	NESGX

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Risk-Adjusted Indicators

There is a big difference between Jacob Mutual Fund performing well and Jacob 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 Jacob 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
JMCGX	1.01	0.14	0.11	0.27	0.98	(1.13)	2.19	(1.71)	5.98
JAMFX	1.25	0.36	0.28	0.37	0.92	(1.52)	3.29	(2.13)	6.71
JFWD	1.43	0.23	0.15	0.26	1.55	(1.57)	3.14	(3.05)	9.23
OBSOX	0.92	0.02	0.04	0.13	1.02	(0.94)	1.79	(1.98)	6.01
NESGX	1.25	0.04	0.07	0.14	1.11	(1.50)	2.49	(2.25)	6.76

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