Energy Basic Correlations

SBMBX Fund

USD 11.88 0.00 0.00%

The current 90-days correlation between Energy Basic Materials and Qs Large Cap is -0.17 (i.e., Good diversification). The correlation of Energy Basic 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.

Energy Basic Correlation With Market

Very good diversification

The correlation between Energy Basic Materials and DJI is -0.21 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Energy Basic Materials and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios. 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 bureau of labor statistics.

Moving together with Energy Mutual Fund

1.0	SEPIX	Energy Basic Materials	Pair Corr
1.0	SEPCX	Energy Basic Materials	Pair Corr

Moving against Energy Mutual Fund

0.46	SIEPX	International Equity	Pair Corr
0.41	SIEYX	International Equity	Pair Corr
0.41	SIECX	International Equity	Pair Corr
0.37	SLCGX	Large Capitalization	Pair Corr
0.31	SBHIX	Health Biotchnology	Pair Corr
0.31	SHPAX	Health Biotchnology	Pair Corr
0.43	GEACX	Gmo Trust	Pair Corr
0.43	GAAHX	Gmo Resources	Pair Corr
0.42	SMBPX	Municipal Bond Portfolio	Pair Corr
0.38	SMBAX	Municipal Bond Portfolio	Pair Corr
0.37	GMOWX	Gmo Resources	Pair Corr
0.36	SMBCX	Municipal Bond Portfolio	Pair Corr

Related Correlations Analysis

	LMUSX	DLQIX	FLRAX	FCLKX	PCLVX	TRCPX	ALCEX	LMTIX
LMUSX		0.91	0.96	0.96	0.93	0.93	0.93	1.0	LMUSX
DLQIX	0.91		0.95	0.88	0.96	0.91	0.83	0.91	DLQIX
FLRAX	0.96	0.95		0.91	0.97	0.94	0.88	0.96	FLRAX
FCLKX	0.96	0.88	0.91		0.89	0.91	0.94	0.96	FCLKX
PCLVX	0.93	0.96	0.97	0.89		0.96	0.88	0.93	PCLVX
TRCPX	0.93	0.91	0.94	0.91	0.96		0.93	0.93	TRCPX
ALCEX	0.93	0.83	0.88	0.94	0.88	0.93		0.93	ALCEX
LMTIX	1.0	0.91	0.96	0.96	0.93	0.93	0.93		LMTIX
	LMUSX	DLQIX	FLRAX	FCLKX	PCLVX	TRCPX	ALCEX	LMTIX

Risk-Adjusted Indicators

There is a big difference between Energy Mutual Fund performing well and Energy Basic 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 Energy Basic'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
LMUSX	0.63	0.05	0.04	0.15	0.78	(0.65)	1.56	(1.35)	4.05
DLQIX	0.89	0.32	0.30	0.68	0.40	(1.09)	1.47	(1.30)	19.80
FLRAX	0.71	0.15	0.07	6.17	0.82	(0.73)	1.43	(1.38)	8.00
FCLKX	0.63	0.04	0.03	0.13	0.72	(0.67)	1.35	(1.32)	3.44
PCLVX	0.73	0.25	0.29	0.55	0.21	(0.90)	1.30	(1.00)	13.18
TRCPX	0.68	0.15	0.19	0.29	0.44	(0.86)	1.36	(1.18)	8.07
ALCEX	0.73	0.10	0.10	0.18	0.79	(0.79)	1.62	(1.34)	3.48
LMTIX	0.64	0.05	0.04	0.15	0.80	(0.65)	1.53	(1.37)	4.09

Energy Basic Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Energy Basic mutual fund to make a market-neutral strategy. Peer analysis of Energy Basic could also be used in its relative valuation, which is a method of valuing Energy Basic by comparing valuation metrics with similar companies.

Qs Large Cap Dreyfus Large Cap Nuveen Large Cap Fidelity Large Cap Pace Large Value Tiaa Cref Large Cap Value Avantis Large Cap Qs Large Cap American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup SentinelOne CVS Health Corp

Risk & Return

Correlation

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