Sit Developing Correlations

SDMGX Fund

USD 24.89 0.05 0.20%

The current 90-days correlation between Sit Developing Markets and Sit Mid Cap is 0.69 (i.e., Poor diversification). The correlation of Sit Developing 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.

Sit Developing Correlation With Market

Very poor diversification

The correlation between Sit Developing Markets and DJI is 0.88 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sit Developing Markets 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 Sit Developing Markets. 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 census.

Moving together with Sit Mutual Fund

0.92	SSCDX	Sit Small Cap	Pair Corr
0.88	GDGIX	Sit Global Dividend	Pair Corr
0.88	GDGSX	Sit Global Dividend	Pair Corr
0.9	SSMGX	Sit Small Cap	Pair Corr
0.92	SDFSX	Sit Small Cap	Pair Corr
0.81	SDVSX	Sit Dividend Growth	Pair Corr
0.81	SDVGX	Sit Dividend Growth	Pair Corr
0.78	SESGX	Sit Esg Growth	Pair Corr
0.8	NBNGX	Sit Mid Cap	Pair Corr
0.78	IESGX	Sit Esg Growth	Pair Corr
0.9	SMTFX	Sit Minnesota Tax	Pair Corr
0.96	SNGRX	Sit International Growth	Pair Corr
0.75	SNGVX	Sit U S	Pair Corr
0.74	SNGYX	Sit Government Securities	Pair Corr
0.78	SNTIX	Sit Tax Free	Pair Corr
0.81	SNTYX	Sit Tax Free	Pair Corr
0.82	SQIYX	Sit Mutual Funds	Pair Corr
0.83	SQIFX	Sit Quality Income	Pair Corr
0.97	VEMAX	Vanguard Emerging Markets	Pair Corr
0.97	VEIEX	Vanguard Emerging Markets	Pair Corr
0.97	VEMIX	Vanguard Emerging Markets	Pair Corr
0.97	VEMRX	Vanguard Emerging Markets	Pair Corr
0.96	NWFFX	New World Fund	Pair Corr
0.96	NEWFX	New World Fund	Pair Corr
0.96	NEWCX	New World Fund	Pair Corr
0.96	FWWNX	American Funds New	Pair Corr
0.96	FNFWX	American Funds New	Pair Corr
0.86	PFN	Pimco Income Strategy	Pair Corr
0.92	PFJAX	Putnam High Yield	Pair Corr

Moving against Sit Mutual Fund

0.53	NXJ	Nuveen New Jersey	Pair Corr
0.49	ODVYX	Oppenheimer Developing	Pair Corr

Related Correlations Analysis

	SSCDX	GDGIX	GDGSX	SSMGX	SDFSX	SDVSX	SDVGX	SESGX	NBNGX
SSCDX		0.87	0.86	0.98	1.0	0.85	0.85	0.73	0.85	SSCDX
GDGIX	0.87		1.0	0.88	0.87	0.82	0.82	0.95	0.94	GDGIX
GDGSX	0.86	1.0		0.88	0.86	0.81	0.82	0.95	0.94	GDGSX
SSMGX	0.98	0.88	0.88		0.98	0.94	0.94	0.78	0.91	SSMGX
SDFSX	1.0	0.87	0.86	0.98		0.85	0.85	0.73	0.85	SDFSX
SDVSX	0.85	0.82	0.81	0.94	0.85		1.0	0.79	0.9	SDVSX
SDVGX	0.85	0.82	0.82	0.94	0.85	1.0		0.79	0.9	SDVGX
SESGX	0.73	0.95	0.95	0.78	0.73	0.79	0.79		0.92	SESGX
NBNGX	0.85	0.94	0.94	0.91	0.85	0.9	0.9	0.92		NBNGX
	SSCDX	GDGIX	GDGSX	SSMGX	SDFSX	SDVSX	SDVGX	SESGX	NBNGX

Risk-Adjusted Indicators

There is a big difference between Sit Mutual Fund performing well and Sit Developing 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 Sit Developing'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
SSCDX	0.77	0.14	0.14	0.20	0.72	(0.93)	1.94	(1.47)	4.82
GDGIX	0.56	0.00	(0.03)	0.05	0.79	(0.54)	0.98	(1.25)	3.57
GDGSX	0.55	(0.01)	(0.03)	0.05	0.79	(0.53)	0.99	(1.25)	3.61
SSMGX	0.98	0.20	0.17	0.26	0.83	(1.11)	1.94	(1.92)	7.05
SDFSX	0.77	0.14	0.13	0.20	0.72	(0.90)	1.94	(1.47)	4.77
SDVSX	0.64	0.15	0.15	0.34	0.51	(0.75)	1.01	(1.21)	11.34
SDVGX	0.64	0.15	0.15	0.34	0.54	(0.75)	1.01	(1.27)	11.18
SESGX	0.55	(0.04)	(0.06)	0.01	0.85	(0.51)	0.96	(1.29)	3.72
NBNGX	0.94	0.04	0.03	0.10	1.20	(0.92)	1.62	(2.03)	5.64

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