Energy Basic Correlations

SBMBX Fund

USD 12.16 0.09 0.75%

The current 90-days correlation between Energy Basic Materials and Vy T Rowe is 0.33 (i.e., Weak 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

Modest diversification

The correlation between Energy Basic Materials and DJI is 0.26 (i.e., Modest 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, which includes a position in Energy Basic Materials. 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

0.61	SABAX	Salient Alternative Beta	Pair Corr
0.61	SABIX	Aggressive Balanced	Pair Corr
0.63	SABCX	Salient Alternative Beta	Pair Corr
0.65	SAMAX	Moderately Aggressive	Pair Corr
0.67	SAMCX	Salient Mlp Fund	Pair Corr
0.65	SAMIX	Moderately Aggressive	Pair Corr
0.79	SSCCX	Small Capitalization	Pair Corr
0.79	SSCPX	Small Capitalization	Pair Corr
0.79	SSCYX	Small Capitalization	Pair Corr
0.62	SBCCX	Moderately Conservative	Pair Corr
0.88	SBHIX	Health Biotchnology	Pair Corr
0.65	SBMCX	Moderate Balanced	Pair Corr
0.63	SBMIX	Moderate Balanced	Pair Corr
0.75	STPAX	Technology Communications	Pair Corr
0.8	STPCX	Technology Communications	Pair Corr
0.78	STPIX	Technology Communications	Pair Corr
1.0	SEPIX	Energy Basic Materials	Pair Corr
1.0	SEPCX	Energy Basic Materials	Pair Corr
0.7	SFPCX	Financial Services	Pair Corr
0.66	SFPIX	Financial Services	Pair Corr
0.82	SHPAX	Health Biotchnology	Pair Corr
0.88	SHPCX	Health Biotchnology	Pair Corr
0.77	SLCGX	Large Capitalization	Pair Corr
0.84	SLCVX	Large Cap Value	Pair Corr
0.79	SLGCX	Large Capitalization	Pair Corr
0.78	SLGYX	Large Capitalization	Pair Corr
0.84	SMIPX	Mid Capitalization	Pair Corr
0.64	SMPAX	Moderate Balanced	Pair Corr

Related Correlations Analysis

	IAXSX	VGCLX	JDJRX	FHCOX	MNCRX	SRDAX
IAXSX		0.75	0.32	0.47	0.61	0.36	IAXSX
VGCLX	0.75		0.03	0.01	0.96	-0.12	VGCLX
JDJRX	0.32	0.03		0.76	0.1	0.78	JDJRX
FHCOX	0.47	0.01	0.76		-0.02	0.95	FHCOX
MNCRX	0.61	0.96	0.1	-0.02		-0.14	MNCRX
SRDAX	0.36	-0.12	0.78	0.95	-0.14		SRDAX
	IAXSX	VGCLX	JDJRX	FHCOX	MNCRX	SRDAX

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

MNCRX	+ 0.96	VGCLX
SRDAX	+ 0.95	FHCOX
SRDAX	+ 0.78	JDJRX
FHCOX	+ 0.76	JDJRX
VGCLX	+ 0.75	IAXSX
MNCRX	+ 0.61	IAXSX

High negative correlations

SRDAX	- 0.14	MNCRX
SRDAX	- 0.12	VGCLX
MNCRX	- 0.02	FHCOX

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
IAXSX	0.94	0.13	0.07	0.31	1.14	(1.03)	1.86	(1.72)	7.61
VGCLX	0.29	(0.01)	(0.16)	0.06	0.42	(0.31)	0.69	(0.68)	2.40
JDJRX	0.39	0.03	(0.11)	0.77	0.42	(0.46)	0.88	(0.79)	2.40
FHCOX	0.04	0.01	0.00	4.94	0.00	0.00	0.10	0.00	0.61
MNCRX	0.21	(0.01)	(0.26)	0.04	0.26	(0.24)	0.46	(0.46)	1.84
SRDAX	0.15	0.04	(0.20)	(1.16)	0.00	(0.20)	0.38	(0.29)	1.05

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC