Sit Developing Correlations

Mutual Funds . USA . 
Fund . Sit Developing Markets
SDMGX Fund  USD 17.24  0.14  0.82%   
The current 90-days correlation between Sit Developing Markets and Putnman Retirement Ready is 0.64 (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

Modest diversification

The correlation between Sit Developing Markets 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 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 various price indices.

Moving together with Sit Mutual Fund

  0.94VEMAX Vanguard Emerging MarketsPairCorr
  0.94VEIEX Vanguard Emerging MarketsPairCorr
  0.93VEMIX Vanguard Emerging MarketsPairCorr
  0.93VEMRX Vanguard Emerging MarketsPairCorr
  0.91FWWNX American Funds NewPairCorr
  0.91FNFWX American Funds NewPairCorr
  0.91NEWFX New World FundPairCorr
  0.91NWFFX New World FundPairCorr
  0.91NEWCX New World FundPairCorr
  0.89ODVYX Oppenheimer DevelopingPairCorr
  0.73SMPIX Semiconductor UltrasectorPairCorr
  0.77SMPSX Semiconductor UltrasectorPairCorr
  0.68DD Dupont De Nemours Earnings Call This WeekPairCorr

Related Correlations Analysis

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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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