Sands Capital Correlations

SCGVX Fund

USD 32.40 0.05 0.15%

The current 90-days correlation between Sands Capital Global and Sands Capital Global is 1.0 (i.e., No risk reduction). The correlation of Sands Capital 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.

Sands Capital Correlation With Market

Poor diversification

The correlation between Sands Capital Global and DJI is 0.69 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sands Capital Global 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 Sands Capital Global. 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 real.

Moving together with SANDS Mutual Fund

1.0	SCMGX	Sands Capital Global	Pair Corr
0.65	FNFPX	American Funds New	Pair Corr
0.7	FFPNX	American Funds New	Pair Corr
0.68	NPFCX	New Perspective	Pair Corr
0.7	ANWPX	New Perspective	Pair Corr
0.7	NPFFX	New Perspective	Pair Corr
0.7	CNPAX	New Perspective	Pair Corr
0.69	CNPEX	New Perspective	Pair Corr
0.7	CNPFX	New Perspective	Pair Corr
0.68	CNPCX	New Perspective	Pair Corr
0.68	RNPAX	New Perspective	Pair Corr
0.91	SPMPX	Invesco Steelpath Mlp	Pair Corr
0.91	MLPNX	Oppenheimer Steelpath Mlp	Pair Corr
0.91	MLPMX	Oppenheimer Steelpath Mlp	Pair Corr
0.91	SPMJX	Invesco Steelpath Mlp	Pair Corr
0.93	FGLGX	Fidelity Series Growth	Pair Corr
0.97	ANZAX	Allianzgi Convertible	Pair Corr
0.9	CFJAX	Calvert Large Cap	Pair Corr
0.87	AFICX	American Funds Funda	Pair Corr
0.96	ASTZX	Astor Long/short	Pair Corr
0.9	THLCX	Thrivent Large Cap	Pair Corr
0.77	SGPGX	Sgi Prudent Growth	Pair Corr
0.96	DFMAX	Davidson Multi Cap	Pair Corr
0.68	PGAIX	Pimco Global Multi	Pair Corr
0.75	PGXFX	American Funds Global	Pair Corr
0.89	RICGX	Investment Of America	Pair Corr
0.91	SSMOX	Steward Small Mid	Pair Corr
0.96	THPGX	Thompson Largecap	Pair Corr
0.84	GAB	Gabelli Equity Trust	Pair Corr
0.89	NTDAX	Nationwide Destination	Pair Corr
0.88	BKPSX	Banks Ultrasector Profund Steady Growth	Pair Corr
0.89	FCNKX	Fidelity Trafund Class	Pair Corr

Moving against SANDS Mutual Fund

0.61	BTMPX	Ishares Msci Eafe	Pair Corr
0.61	MDIIX	Blackrock Intern Index	Pair Corr
0.6	BTMKX	Blackrock International	Pair Corr
0.41	FMFFX	Fs Managed Futures	Pair Corr

Related Correlations Analysis

	SCMGX	SGAPX	TCMPX	SCIOX	ALCKX
SCMGX		0.82	-0.67	0.89	0.92	SCMGX
SGAPX	0.82		-0.33	0.69	0.89	SGAPX
TCMPX	-0.67	-0.33		-0.72	-0.68	TCMPX
SCIOX	0.89	0.69	-0.72		0.86	SCIOX
ALCKX	0.92	0.89	-0.68	0.86		ALCKX
	SCMGX	SGAPX	TCMPX	SCIOX	ALCKX

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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

ALCKX	+ 0.92	SCMGX
SCIOX	+ 0.89	SCMGX
ALCKX	+ 0.89	SGAPX
ALCKX	+ 0.86	SCIOX
SGAPX	+ 0.82	SCMGX
SCIOX	+ 0.69	SGAPX

High negative correlations

SCIOX	- 0.72	TCMPX
ALCKX	- 0.68	TCMPX
TCMPX	- 0.67	SCMGX
TCMPX	- 0.33	SGAPX

Risk-Adjusted Indicators

There is a big difference between SANDS Mutual Fund performing well and Sands Capital 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 Sands Capital'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
SCMGX	0.76	0.02	0.01	0.14	0.94	(0.78)	1.39	(1.65)	4.50
SGAPX	0.58	(0.05)	(0.10)	0.05	0.79	(0.58)	1.07	(1.15)	3.75
TCMPX	0.64	(0.18)	0.00	(0.23)	0.00	0.00	1.07	(1.18)	3.49
SCIOX	0.81	0.07	0.00	0.31	1.15	(0.86)	1.55	(1.76)	5.35
ALCKX	0.69	(0.01)	(0.02)	0.10	0.97	(0.71)	1.57	(1.79)	4.75

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