Mid Cap Correlations

XMDYX Fund

USD 609.05 7.14 1.19%

The current 90-days correlation between Mid Cap Spdr and Putnman Retirement Ready is 0.15 (i.e., Average diversification). The correlation of Mid 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.

Mid Cap Correlation With Market

Average diversification

The correlation between Mid Cap Spdr and DJI is 0.19 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mid Cap Spdr and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Mid Cap Spdr. 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 Mid Mutual Fund

0.94	VTSAX	Vanguard Total Stock	Pair Corr
0.95	VFIAX	Vanguard 500 Index	Pair Corr
0.94	VTSMX	Vanguard Total Stock	Pair Corr
0.96	VITSX	Vanguard Total Stock	Pair Corr
0.94	VSTSX	Vanguard Total Stock	Pair Corr
0.94	VSMPX	Vanguard Total Stock	Pair Corr
0.95	VFINX	Vanguard 500 Index	Pair Corr
0.94	VFFSX	Vanguard 500 Index	Pair Corr
0.88	GVCAX	Gabelli Value	Pair Corr
0.72	HIX	Western Asset High	Pair Corr
0.96	FZROX	Fidelity Zero Total	Pair Corr
0.91	ELFNX	Elfun Trusts Elfun	Pair Corr
0.78	RGGEX	American Funds Global	Pair Corr
0.77	ACP	Aberdeen Income Credit	Pair Corr
0.75	AMECX	Income Fund	Pair Corr
0.93	FIVUX	First Investors Oppo	Pair Corr

Moving against Mid Mutual Fund

0.56	PFHCX	Pacific Funds Small	Pair Corr
0.5	NHS	Neuberger Berman High	Pair Corr
0.4	VGTSX	Vanguard Total Inter	Pair Corr
0.4	VTIAX	Vanguard Total Inter	Pair Corr

Related Correlations Analysis

	PRRTX	SMOAX	SAWMX	FHRVX	FRTCX	SRJIX	SCGCX
PRRTX		0.91	0.67	0.82	0.89	0.75	0.59	PRRTX
SMOAX	0.91		0.55	0.91	0.81	0.63	0.36	SMOAX
SAWMX	0.67	0.55		0.41	0.72	0.9	0.9	SAWMX
FHRVX	0.82	0.91	0.41		0.85	0.63	0.32	FHRVX
FRTCX	0.89	0.81	0.72	0.85		0.88	0.73	FRTCX
SRJIX	0.75	0.63	0.9	0.63	0.88		0.92	SRJIX
SCGCX	0.59	0.36	0.9	0.32	0.73	0.92		SCGCX
	PRRTX	SMOAX	SAWMX	FHRVX	FRTCX	SRJIX	SCGCX

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Risk-Adjusted Indicators

There is a big difference between Mid Mutual Fund performing well and Mid 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 Mid 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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
PRRTX	0.26	0.03	(0.22)	0.45	0.18	(0.30)	0.65	(0.54)	1.39
SMOAX	0.19	0.01	(0.36)	0.40	0.13	(0.23)	0.34	(0.42)	1.10
SAWMX	0.30	0.05	(0.17)	0.93	0.12	(0.41)	0.67	(0.49)	1.80
FHRVX	0.25	(0.01)	(0.32)	0.08	0.22	(0.28)	0.56	(0.45)	1.54
FRTCX	0.20	0.00	(0.32)	0.11	0.15	(0.24)	0.38	(0.38)	1.14
SRJIX	0.35	0.00	(0.13)	0.13	0.30	(0.38)	0.86	(0.66)	2.35
SCGCX	0.38	0.02	(0.06)	0.16	0.25	(0.47)	0.87	(0.71)	2.67

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