Small Capitalization Correlations

Mutual Funds . USA . 
Fund . Small Capitalization Portfolio
SSCYX Fund  USD 7.25  0.01  0.14%   
The current 90-days correlation between Small Capitalization and Baird Smallmid Cap is 0.88 (i.e., Very poor diversification). The correlation of Small Capitalization 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 Capitalization Correlation With Market

Very poor diversification

The correlation between Small Capitalization Portfolio 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 Small Capitalization Portfolio and DJI in the same portfolio, assuming nothing else is changed.
  
Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Small Capitalization Portfolio. 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 manufacturing.

Moving together with Small Mutual Fund

  0.96SABIX Aggressive BalancedPairCorr
  0.97SAMAX Moderately AggressivePairCorr
  1.0SSCCX Small CapitalizationPairCorr
  1.0SSCPX Small CapitalizationPairCorr
  0.96SBCCX Moderately ServativePairCorr
  0.97SBMCX Moderate BalancedPairCorr
  0.9STPCX Technology CommunicationsPairCorr
  0.9STPIX Technology CommunicationsPairCorr
  0.95SCAAX Conservative BalancedPairCorr
  0.91SFPCX Financial ServicesPairCorr
  0.91SFPAX Financial ServicesPairCorr
  0.93SLCGX Large CapitalizationPairCorr
  0.86SLCVX Large Cap ValuePairCorr
  0.93SLGCX Large CapitalizationPairCorr
  0.86SLVCX Large Cap ValuePairCorr
  0.86SLVYX Large Cap ValuePairCorr
  0.96SMIPX Mid CapitalizationPairCorr
  0.96SMPAX Moderate BalancedPairCorr
  0.95LUNAX Conservative BalancedPairCorr
  0.98VSMAX Vanguard Small CapPairCorr
  0.98VSCIX Vanguard Small CapPairCorr
  0.98VSCPX Vanguard Small CapPairCorr
  0.98NAESX Vanguard Small CapPairCorr
  0.99FSSNX Fidelity Small CapPairCorr
  0.99DFSTX Us Small CapPairCorr
  0.99PASVX T Rowe PricePairCorr
  0.99PRVIX T Rowe PricePairCorr
  0.99TRZVX T Rowe PricePairCorr
  0.99PRSVX T Rowe PricePairCorr

Moving against Small Mutual Fund

  0.64SQBAX Investment Quality BondPairCorr
  0.43SMBCX Municipal Bond PortfolioPairCorr
  0.37SMBAX Municipal Bond PortfolioPairCorr
  0.34SMBPX Municipal Bond PortfolioPairCorr
  0.31SBHIX Health BiotchnologyPairCorr
  0.51CIFRX Columbia Porate IncomePairCorr
  0.47LIIAX Columbia Porate IncomePairCorr
  0.46SRINX Columbia Porate IncomePairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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