Spirit Of Correlations

SACEX Fund

USD 11.58 0.01 0.09%

The current 90-days correlation between Spirit Of America and Spirit Of America is -0.17 (i.e., Good diversification). The correlation of Spirit Of 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.

Spirit Of Correlation With Market

Average diversification

The correlation between Spirit Of America and DJI is 0.15 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Spirit Of America 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 Spirit Of America. 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 Spirit Mutual Fund

0.98	TORCX	Tortoise Mlp Pipeline	Pair Corr
0.99	MLPTX	Oppenheimer Steelpath Mlp	Pair Corr
0.99	OSPSX	Oppenheimer Steelpath Mlp	Pair Corr
0.93	MLPZX	Oppenheimer Steelpath Mlp	Pair Corr
0.93	OSPMX	Oppenheimer Steelpath Mlp	Pair Corr
0.93	MLPDX	Oppenheimer Steelpath Mlp	Pair Corr
0.93	MLPRX	Oppenheimer Steelpath Mlp	Pair Corr
0.97	GMLPX	Goldman Sachs Mlp	Pair Corr
0.97	GLPIX	Goldman Sachs Mlp	Pair Corr
0.97	GLPRX	Goldman Sachs Mlp	Pair Corr
0.89	XPPRX	Voya Prime Rate	Pair Corr
0.79	PCF	Putnam High Income	Pair Corr
0.79	JPM	JPMorgan Chase Sell-off Trend	Pair Corr
0.61	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr
0.7	WMT	Walmart Aggressive Push	Pair Corr
0.81	DIS	Walt Disney Aggressive Push	Pair Corr
0.78	BAC	Bank of America Aggressive Push	Pair Corr
0.87	CVX	Chevron Corp Sell-off Trend	Pair Corr

Moving against Spirit Mutual Fund

0.57	NXJ	Nuveen New Jersey	Pair Corr
0.53	XNXJX	Nuveen New Jersey	Pair Corr
0.51	XNBHX	Neuberger Berman Int	Pair Corr
0.79	PFE	Pfizer Inc Aggressive Push	Pair Corr
0.71	KO	Coca Cola Sell-off Trend	Pair Corr
0.68	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.45	BA	Boeing Fiscal Year End 29th of January 2025	Pair Corr

Related Correlations Analysis

	SACEX	SACFX	SACRX	SACTX	SACOX	SACVX	SAIEX	SOAEX	SOAAX
SACEX		-0.06	0.17	-0.46	0.0	0.87	1.0	1.0	0.19	SACEX
SACFX	-0.06		0.36	0.72	0.0	-0.28	-0.07	-0.06	0.34	SACFX
SACRX	0.17	0.36		0.45	0.0	0.18	0.17	0.17	1.0	SACRX
SACTX	-0.46	0.72	0.45		0.0	-0.46	-0.47	-0.47	0.43	SACTX
SACOX	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	SACOX
SACVX	0.87	-0.28	0.18	-0.46	0.0		0.87	0.87	0.2	SACVX
SAIEX	1.0	-0.07	0.17	-0.47	0.0	0.87		1.0	0.19	SAIEX
SOAEX	1.0	-0.06	0.17	-0.47	0.0	0.87	1.0		0.19	SOAEX
SOAAX	0.19	0.34	1.0	0.43	0.0	0.2	0.19	0.19		SOAAX
	SACEX	SACFX	SACRX	SACTX	SACOX	SACVX	SAIEX	SOAEX	SOAAX

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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

SAIEX	+ 1.0	SACEX
SOAEX	+ 1.0	SACEX
SOAAX	+ 1.0	SACRX
SOAEX	+ 1.0	SAIEX
SACVX	+ 0.87	SACEX
SAIEX	+ 0.87	SACVX

High negative correlations

SOAEX	- 0.47	SACTX
SAIEX	- 0.47	SACTX
SACVX	- 0.46	SACTX
SACTX	- 0.46	SACEX
SACVX	- 0.28	SACFX
SAIEX	- 0.07	SACFX

Risk-Adjusted Indicators

There is a big difference between Spirit Mutual Fund performing well and Spirit Of 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 Spirit Of'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
SACEX	0.70	0.15	0.05	0.93	0.81	(0.74)	1.51	(1.71)	5.27
SACFX	0.10	0.00	(0.42)	(0.15)	0.11	(0.16)	0.23	(0.23)	0.94
SACRX	0.67	0.06	(0.06)	1.29	0.79	(0.72)	1.25	(1.27)	3.65
SACTX	0.24	0.01	(0.31)	0.48	0.27	(0.27)	0.48	(0.48)	1.35
SACOX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
SACVX	0.61	0.10	(0.01)	1.74	0.75	(0.64)	1.28	(1.39)	4.15
SAIEX	0.69	0.15	0.06	0.93	0.79	(0.74)	1.46	(1.75)	5.44
SOAEX	0.69	0.15	0.05	0.96	0.80	(0.74)	1.47	(1.69)	5.34
SOAAX	0.67	0.06	(0.05)	1.09	0.78	(0.75)	1.22	(1.24)	3.68

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