Sit Mid Correlations

NBNGX Fund

USD 25.42 0.27 1.07%

The current 90-days correlation between Sit Mid Cap and Invesco Global Health is 0.16 (i.e., Average diversification). The correlation of Sit Mid 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.

Sit Mid Correlation With Market

Very poor diversification

The correlation between Sit Mid Cap and DJI is 0.81 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sit Mid Cap 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 Sit Mid 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 Sit Mutual Fund

0.98	SSCDX	Sit Small Cap	Pair Corr
0.78	GDGIX	Sit Global Dividend	Pair Corr
0.78	GDGSX	Sit Global Dividend	Pair Corr
0.97	SSMGX	Sit Small Cap	Pair Corr
0.92	SDFSX	Sit Small Cap	Pair Corr
0.71	SDMGX	Sit Developing Markets	Pair Corr
0.9	SDVSX	Sit Dividend Growth	Pair Corr
0.9	SDVGX	Sit Dividend Growth	Pair Corr
0.83	SESGX	Sit Esg Growth	Pair Corr
0.97	SIBAX	Sit Balanced	Pair Corr
0.92	IESGX	Sit Esg Growth	Pair Corr
0.91	SNIGX	Sit Large Cap	Pair Corr
0.96	PAMCX	T Rowe Price	Pair Corr
0.89	RRMGX	T Rowe Price	Pair Corr
0.9	TRQZX	T Rowe Price	Pair Corr
0.89	RPMGX	T Rowe Price	Pair Corr
0.89	PRJIX	T Rowe Price	Pair Corr
0.93	PRNHX	T Rowe Price	Pair Corr
0.9	TRUZX	T Rowe Price	Pair Corr
0.96	PCBIX	Midcap Fund Institutional	Pair Corr
0.92	PEMGX	Midcap Fund Class	Pair Corr
0.92	PMBCX	Midcap Fund Class	Pair Corr
0.7	LETRX	Voya Russia Fund	Pair Corr
0.86	KMKAX	Kinetics Market Oppo Steady Growth	Pair Corr
0.87	KNPAX	Kinetics Paradigm Steady Growth	Pair Corr
0.88	SMPSX	Semiconductor Ultrasector	Pair Corr
0.88	LSHUX	Horizon Spin Off Steady Growth	Pair Corr
0.88	LSHCX	Horizon Spin Off Steady Growth	Pair Corr
0.87	KNPYX	Kinetics Paradigm Steady Growth	Pair Corr
0.86	KMKCX	Kinetics Market Oppo Steady Growth	Pair Corr
0.87	KNPCX	Kinetics Paradigm Steady Growth	Pair Corr

Moving against Sit Mutual Fund

0.73	SNGVX	Sit U S	Pair Corr
0.68	SNGYX	Sit Government Securities	Pair Corr
0.54	SQIFX	Sit Quality Income	Pair Corr
0.48	SQIYX	Sit Mutual Funds	Pair Corr

Related Correlations Analysis

	GGHYX	HHCZX	LHCCX	BHSRX	THQ	XXGRX	DLHIX	LYFAX
GGHYX		-0.75	0.61	0.94	0.67	0.97	0.92	0.68	GGHYX
HHCZX	-0.75		-0.23	-0.71	-0.33	-0.76	-0.67	-0.34	HHCZX
LHCCX	0.61	-0.23		0.7	0.35	0.57	0.71	0.74	LHCCX
BHSRX	0.94	-0.71	0.7		0.75	0.95	0.97	0.69	BHSRX
THQ	0.67	-0.33	0.35	0.75		0.69	0.74	0.34	THQ
XXGRX	0.97	-0.76	0.57	0.95	0.69		0.92	0.71	XXGRX
DLHIX	0.92	-0.67	0.71	0.97	0.74	0.92		0.72	DLHIX
LYFAX	0.68	-0.34	0.74	0.69	0.34	0.71	0.72		LYFAX
	GGHYX	HHCZX	LHCCX	BHSRX	THQ	XXGRX	DLHIX	LYFAX

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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

XXGRX	+ 0.97	GGHYX
DLHIX	+ 0.97	BHSRX
XXGRX	+ 0.95	BHSRX
BHSRX	+ 0.94	GGHYX
DLHIX	+ 0.92	GGHYX
DLHIX	+ 0.92	XXGRX

High negative correlations

XXGRX	- 0.76	HHCZX
HHCZX	- 0.75	GGHYX
BHSRX	- 0.71	HHCZX
DLHIX	- 0.67	HHCZX
LYFAX	- 0.34	HHCZX
THQ	- 0.33	HHCZX

Risk-Adjusted Indicators

There is a big difference between Sit Mutual Fund performing well and Sit Mid 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 Sit Mid'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
GGHYX	0.62	(0.14)	0.00	(0.72)	0.00	0.00	0.89	(1.30)	3.73
HHCZX	0.16	0.02	(0.44)	15.04	0.03	(0.20)	0.37	(0.31)	1.14
LHCCX	0.75	(0.14)	0.00	(0.05)	0.00	0.00	1.50	(1.57)	5.15
BHSRX	0.56	(0.17)	0.00	(0.16)	0.00	0.00	0.91	(1.31)	3.39
THQ	0.77	(0.15)	0.00	(0.12)	0.00	0.00	1.34	(1.67)	5.19
XXGRX	0.61	(0.13)	0.00	(1.17)	0.00	0.00	1.01	(1.19)	3.30
DLHIX	0.62	(0.23)	0.00	(0.20)	0.00	0.00	0.82	(1.45)	4.38
LYFAX	0.66	(0.07)	0.00	(1.07)	0.00	0.00	1.22	(1.65)	3.82

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