Sit Developing Correlations

Mutual Funds . USA . 
Fund . Sit Developing Markets
SDMGX Fund  USD 17.78  0.03  0.17%   
The current 90-days correlation between Sit Developing Markets and Lifestyle Ii Moderate is -0.05 (i.e., Good 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

Weak diversification

The correlation between Sit Developing Markets and DJI is 0.37 (i.e., Weak 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 price.

Moving together with Sit Mutual Fund

  0.61SSCDX Sit Small CapPairCorr
  0.76GDGIX Sit Global DividendPairCorr
  0.76GDGSX Sit Global DividendPairCorr
  0.7SSMGX Sit Small CapPairCorr
  0.61SDFSX Sit Small CapPairCorr
  0.66SDVSX Sit Dividend GrowthPairCorr
  0.66SDVGX Sit Dividend GrowthPairCorr
  0.69SESGX Sit Esg GrowthPairCorr
  0.66NBNGX Sit Mid CapPairCorr
  0.62SIBAX Sit BalancedPairCorr
  0.69IESGX Sit Esg GrowthPairCorr
  0.62SNIGX Sit Large CapPairCorr
  0.97VEMAX Vanguard Emerging MarketsPairCorr
  0.97VEIEX Vanguard Emerging MarketsPairCorr
  0.97VEMIX Vanguard Emerging MarketsPairCorr
  0.97VEMRX Vanguard Emerging MarketsPairCorr
  0.84FWWNX American Funds NewPairCorr
  0.84FNFWX American Funds NewPairCorr
  0.84NEWFX New World FundPairCorr
  0.85NWFFX New World FundPairCorr
  0.83NEWCX New World FundPairCorr
  0.81ODVYX Oppenheimer DevelopingPairCorr
  0.61VFIAX Vanguard 500 IndexPairCorr
  0.61VFINX Vanguard 500 IndexPairCorr
  0.63VFFSX Vanguard 500 IndexPairCorr

Moving against Sit Mutual Fund

  0.45SNGVX Sit U SPairCorr
  0.44SNGYX Sit Government SecuritiesPairCorr

Related Correlations Analysis

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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   
SCGCX
+ 0.94
SAMAX
SMOAX
+ 0.91
JLMOX
SCGCX
+ 0.62
JLMOX
SAMAX
+ 0.59
JLMOX
SMOAX
+ 0.54
MODRX
MODRX
+ 0.46
JLMOX
  
High negative correlations   
MODRX
- 0.07
SAMAX
MODRX
- 0.01
SCGCX

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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