Steward Small-mid Correlations

Mutual Funds . USA . 
Fund . Steward Small Mid Cap
SCECX Fund  USD 14.62  0.25  1.74%   
The current 90-days correlation between Steward Small Mid and Alger Health Sciences is 0.47 (i.e., Very weak diversification). The correlation of Steward Small-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.

Steward Small-mid Correlation With Market

Very poor diversification

The correlation between Steward Small Mid Cap and DJI is 0.89 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Steward Small Mid Cap 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 Steward Small 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 main economic indicators.

Moving together with Steward Mutual Fund

  0.91SCJIX Steward Ered CallPairCorr
  0.89SEECX Steward Large CapPairCorr
  0.94SEEHX Steward Large CapPairCorr
  0.89SEEKX Steward Large CapPairCorr
  0.63SGIDX Steward Global EPairCorr
  0.63SGIGX Steward Global EquityPairCorr
  0.95SJVAX Steward FundsPairCorr
  1.0TRDFX Steward Small MidPairCorr
  0.94VSMAX Vanguard Small CapPairCorr
  0.94VSCIX Vanguard Small CapPairCorr
  0.94VSCPX Vanguard Small CapPairCorr
  0.99NAESX Vanguard Small CapPairCorr
  0.93FSSNX Fidelity Small CapPairCorr
  0.93DFSTX Us Small CapPairCorr
  0.99PASVX T Rowe PricePairCorr
  0.92PRVIX T Rowe PricePairCorr
  0.93TRZVX T Rowe PricePairCorr
  0.99PRSVX T Rowe PricePairCorr
  0.95VTSMX Vanguard Total StockPairCorr
  0.92SCRYX Small Cap CorePairCorr
  0.89FBALX Fidelity BalancedPairCorr
  0.8RQECX Resq Dynamic AllocationPairCorr
  0.87GAB Gabelli Equity TrustPairCorr
  0.86LLPFX Longleaf PartnersPairCorr
  0.76FEMDX Franklin Emerging MarketPairCorr

Moving against Steward Mutual Fund

  0.72SMNIX Crossmark Steward EquityPairCorr
  0.62SEAKX Steward Select BondPairCorr
  0.77JNJ Johnson Johnson Sell-off TrendPairCorr
  0.74MRK Merck Company Fiscal Year End 6th of February 2025 PairCorr
  0.72KO Coca Cola Aggressive PushPairCorr
  0.62BA Boeing Fiscal Year End 29th of January 2025 PairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Steward Mutual Fund performing well and Steward Small-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 Steward Small-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.

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