Mairs Power Correlations

Mutual Funds . USA . 
Fund . Mairs Power Small
MSCFX Fund  USD 33.47  0.18  0.53%   
The current 90-days correlation between Mairs Power Small and Mairs Power Balanced is 0.89 (i.e., Very poor diversification). The correlation of Mairs Power 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.

Mairs Power Correlation With Market

Very poor diversification

The correlation between Mairs Power Small and DJI is 0.85 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mairs Power Small and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Mairs Power Small. 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 census.

Moving together with Mairs Mutual Fund

  0.92MPGFX Mairs Power GrowthPairCorr
  0.96MAPOX Mairs Power BalancedPairCorr
  0.92VSMAX Vanguard Small CapPairCorr
  0.96VSCIX Vanguard Small CapPairCorr
  0.92VSCPX Vanguard Small CapPairCorr
  0.96NAESX Vanguard Small CapPairCorr
  0.92FSSNX Fidelity Small CapPairCorr
  0.98DFSTX Us Small CapPairCorr
  0.98PASVX T Rowe PricePairCorr
  0.98PRVIX T Rowe PricePairCorr
  0.92TRZVX T Rowe PricePairCorr
  0.98PRSVX T Rowe PricePairCorr
  0.84SPGSX State Street PremierPairCorr
  0.81FMAGX Fidelity MagellanPairCorr
  0.85FGCKX Fidelity Growth PanyPairCorr
  0.77RNGHX New Economy FundPairCorr
  0.79FLSZX Franklin Lifesmart 2055PairCorr
  0.74CGGEX American Funds GlobalPairCorr
  0.98LGSCX Qs Small CapitalizationPairCorr
  0.8CCLFX Cliffwater CorporatePairCorr
  0.91VWENX Vanguard WellingtonPairCorr
  0.85QCGRPX College RetirementPairCorr
  0.92VTSAX Vanguard Total StockPairCorr
  0.84FAFGX American FundsPairCorr
  0.9VINIX Vanguard InstitutionalPairCorr
  0.9WCPSX Mobile Telecommunicatio Steady GrowthPairCorr
  0.88HACAX Harbor Capital ApprePairCorr
  0.76TWSCX Strategic Allocation:PairCorr

Moving against Mairs Mutual Fund

  0.75KF Korea ClosedPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Mairs Mutual Fund performing well and Mairs Power 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 Mairs Power'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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