Schwab Small-cap Correlations

Mutual Funds . USA . 
Fund . Schwab Small Cap Index
SWSSX Fund  USD 39.55  0.15  0.38%   
The current 90-days correlation between Schwab Small Cap and Schwab International Index is 0.34 (i.e., Weak diversification). The correlation of Schwab Small-cap 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.

Schwab Small-cap Correlation With Market

Significant diversification

The correlation between Schwab Small Cap Index and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Schwab Small Cap Index 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 Schwab Small Cap Index. Also, note that the market value of any mutual fund could be closely tied with the direction of predictive economic indicators such as various price indices.

Moving together with Schwab Mutual Fund

  0.99VSMAX Vanguard Small CapPairCorr
  0.99VSCIX Vanguard Small CapPairCorr
  0.99VSCPX Vanguard Small CapPairCorr
  0.99NAESX Vanguard Small CapPairCorr
  1.0FSSNX Fidelity Small CapPairCorr
  1.0DFSTX Us Small CapPairCorr
  0.85PASVX T Rowe PricePairCorr
  1.0PRVIX T Rowe PricePairCorr
  1.0TRZVX T Rowe PricePairCorr
  1.0PRSVX T Rowe PricePairCorr
  0.88DXQLX Direxion Monthly NasdaqPairCorr
  0.88RYVLX Nasdaq 100 2xPairCorr
  0.88RYVYX Nasdaq 100 2xPairCorr
  0.87UOPIX Ultra Nasdaq 100PairCorr
  0.72RYCCX Nasdaq 100 2xPairCorr
  0.87UOPSX Ultranasdaq 100 ProfundPairCorr
  0.95INPIX Internet UltrasectorPairCorr
  0.95INPSX Internet UltrasectorPairCorr
  0.72CSCO Cisco Systems Sell-off TrendPairCorr
  0.72DIS Walt Disney Sell-off TrendPairCorr
  0.71AA Alcoa Corp Fiscal Year End 15th of January 2025 PairCorr
  0.8AXP American Express Fiscal Year End 24th of January 2025 PairCorr
  0.72WMT Walmart Aggressive PushPairCorr
  0.78CVX Chevron Corp Sell-off TrendPairCorr
  0.77BAC Bank of America Aggressive PushPairCorr

Moving against Schwab Mutual Fund

  0.41TGLDX Tocqueville GoldPairCorr
  0.69JNJ Johnson Johnson Sell-off TrendPairCorr
  0.67PFE Pfizer Inc Aggressive PushPairCorr
  0.37BA 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   
SWPPX
+ 1.0
SWTSX
SNXFX
+ 1.0
SWTSX
SNXFX
+ 1.0
SWPPX
SFLNX
+ 0.99
SWTSX
SFLNX
+ 0.98
SWPPX
SFLNX
+ 0.98
SNXFX
  
High negative correlations   
SWTSX
- 0.58
SWISX
SNXFX
- 0.57
SWISX
SFLNX
- 0.54
SWISX
SWPPX
- 0.54
SWISX

Risk-Adjusted Indicators

There is a big difference between Schwab Mutual Fund performing well and Schwab Small-cap 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 Schwab Small-cap'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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