Sit Developing Correlations

Mutual Funds . USA . 
Fund . Sit Developing Markets
SDMGX Fund  USD 24.94  0.18  0.72%   
The current 90-days correlation between Sit Developing Markets and Vanguard Target Retirement is 0.82 (i.e., Very 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

  0.92SSCDX Sit Small CapPairCorr
  0.88GDGIX Sit Global DividendPairCorr
  0.88GDGSX Sit Global DividendPairCorr
  0.9SSMGX Sit Small CapPairCorr
  0.91SDFSX Sit Small CapPairCorr
  0.81SDVSX Sit Dividend GrowthPairCorr
  0.83SDVGX Sit Dividend GrowthPairCorr
  0.79SESGX Sit Esg GrowthPairCorr
  0.62SIBAX Sit BalancedPairCorr
  0.79IESGX Sit Esg GrowthPairCorr
  0.92SMTFX Sit Minnesota TaxPairCorr
  0.75SNGVX Sit U SPairCorr
  0.77SNGYX Sit Government SecuritiesPairCorr
  0.78SNTIX Sit Tax FreePairCorr
  0.82SQIFX Sit Quality IncomePairCorr
  0.97VEMAX Vanguard Emerging MarketsPairCorr
  0.97VEIEX Vanguard Emerging MarketsPairCorr
  0.97VEMIX Vanguard Emerging MarketsPairCorr
  0.97VEMRX Vanguard Emerging MarketsPairCorr
  0.96NEWFX New World FundPairCorr
  0.96NWFFX New World FundPairCorr
  0.96NEWCX New World FundPairCorr
  0.96FWWNX American Funds NewPairCorr
  0.96FNFWX American Funds NewPairCorr
  0.88PDI Pimco Dynamic Income Sell-off TrendPairCorr
  0.92BZOIX Collegeadvantage 529PairCorr
  0.83NSDVX North Star DividendPairCorr
  0.84GRGDX Goldman Sachs EnhancedPairCorr
  0.93JOBYX Jpmorgan Smartretirement*PairCorr
  0.93REIZX Third Avenue InternaPairCorr

Moving against Sit Mutual Fund

  0.89UIPIX Ultrashort Mid CapPairCorr
  0.86CESGX Coho Relative ValuePairCorr
  0.72TCSUX Cleartrack 2020 ClassPairCorr
  0.68TCTGX Transamerica CleartrackPairCorr
  0.68TCTJX Transamerica CleartrackPairCorr
  0.67TDKTX Cleartrack 2015 ClassPairCorr
  0.5ODVYX Oppenheimer DevelopingPairCorr
  0.4USPSX Profunds UltrashortPairCorr
  0.38USPIX Profunds UltrashortPairCorr

Related Correlations Analysis


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.

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