Spectrum Advisors Correlations

SAPEX Fund

USD 18.33 0.14 0.77%

The current 90-days correlation between Spectrum Advisors and Eagle Mlp Strategy is 0.26 (i.e., Modest diversification). The correlation of Spectrum Advisors 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.

Spectrum Advisors Correlation With Market

Poor diversification

The correlation between Spectrum Advisors Preferred and DJI is 0.79 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Spectrum Advisors Preferred 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 Spectrum Advisors Preferred. 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 income.

Moving together with Spectrum Mutual Fund

0.73	SFHYX	Hundredfold Select	Pair Corr
0.78	QRDTX	Quantified Rising	Pair Corr
0.81	QALAX	Quantified Alternative	Pair Corr
0.84	QALTX	Quantified Alternative	Pair Corr
0.77	QSTFX	Quantified Stf	Pair Corr
0.77	QSTAX	Quantified Stf	Pair Corr
0.73	QCGDX	Quantified Common Ground	Pair Corr
0.63	ABRIX	Invesco Balanced Risk	Pair Corr

Related Correlations Analysis

	EGLNX	XEMDX	ZEMIX	PIEFX	EPASX	EMSLX	SEKRX	ANGCX
EGLNX		0.0	0.22	0.25	0.0	-0.02	0.12	-0.56	EGLNX
XEMDX	0.0		0.42	0.35	0.49	0.47	0.47	0.54	XEMDX
ZEMIX	0.22	0.42		0.98	0.93	0.95	0.98	-0.1	ZEMIX
PIEFX	0.25	0.35	0.98		0.9	0.92	0.97	-0.19	PIEFX
EPASX	0.0	0.49	0.93	0.9		0.95	0.94	0.14	EPASX
EMSLX	-0.02	0.47	0.95	0.92	0.95		0.97	0.07	EMSLX
SEKRX	0.12	0.47	0.98	0.97	0.94	0.97		0.01	SEKRX
ANGCX	-0.56	0.54	-0.1	-0.19	0.14	0.07	0.01		ANGCX
	EGLNX	XEMDX	ZEMIX	PIEFX	EPASX	EMSLX	SEKRX	ANGCX

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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

PIEFX	+ 0.98	ZEMIX
SEKRX	+ 0.98	ZEMIX
SEKRX	+ 0.97	PIEFX
SEKRX	+ 0.97	EMSLX
EMSLX	+ 0.95	ZEMIX
EMSLX	+ 0.95	EPASX

High negative correlations

ANGCX	- 0.56	EGLNX
ANGCX	- 0.19	PIEFX
ANGCX	- 0.1	ZEMIX
EMSLX	- 0.02	EGLNX
EPASX	- 0.0	EGLNX
XEMDX	- 0.0	EGLNX

Risk-Adjusted Indicators

There is a big difference between Spectrum Mutual Fund performing well and Spectrum Advisors 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 Spectrum Advisors' 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
EGLNX	0.68	0.22	0.20	0.58	0.35	(0.85)	1.73	(0.85)	4.11
XEMDX	0.23	(0.01)	(0.29)	(0.01)	0.29	(0.29)	0.55	(0.56)	1.68
ZEMIX	0.68	(0.03)	(0.10)	0.03	0.96	(0.66)	1.48	(1.96)	4.20
PIEFX	0.80	(0.06)	(0.10)	0.02	0.97	(0.93)	1.82	(1.45)	4.54
EPASX	0.75	(0.01)	(0.10)	0.08	0.98	(0.82)	1.54	(1.67)	6.54
EMSLX	0.72	(0.05)	0.00	(0.08)	0.00	0.00	1.76	(1.08)	6.36
SEKRX	0.77	(0.05)	(0.10)	0.03	0.98	(0.79)	1.85	(1.49)	5.33
ANGCX	0.09	(0.01)	(0.76)	0.34	0.10	(0.15)	0.12	(0.23)	0.70

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