Energy Basic Correlations

Mutual Funds . USA . 
Fund . Energy Basic Materials
SEPIX Fund  USD 13.10  0.00  0.00%   
The current 90-days correlation between Energy Basic Materials and Health Biotchnology Portfolio is 0.08 (i.e., Significant diversification). The correlation of Energy Basic 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.

Energy Basic Correlation With Market

Good diversification

The correlation between Energy Basic Materials and DJI is -0.17 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Energy Basic Materials and DJI in the same portfolio, assuming nothing else is changed.
  
Check out World Market Map to better understand how to build diversified portfolios. 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 gross domestic product.

Moving together with Energy Mutual Fund

  1.0SBMBX Energy Basic MaterialsPairCorr
  1.0SEPCX Energy Basic MaterialsPairCorr

Moving against Energy Mutual Fund

  0.37SHPAX Health BiotchnologyPairCorr
  0.36SBHIX Health BiotchnologyPairCorr
  0.42SMBPX Municipal Bond PortfolioPairCorr
  0.37SMBAX Municipal Bond PortfolioPairCorr
  0.35SMBCX Municipal Bond PortfolioPairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

There is a big difference between Energy Mutual Fund performing well and Energy Basic 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 Energy Basic'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
SABAX  0.59  0.14  0.19  0.37  0.35 
(0.69)
 1.09 
(1.01)
 10.09 
SABCX  0.60  0.14  0.18  0.38  0.41 
(0.76)
 1.02 
(1.10)
 10.16 
SAMAX  0.56  0.14  0.19  0.37  0.34 
(0.68)
 0.99 
(0.99)
 9.99 
SAMCX  0.57  0.14  0.19  0.37  0.32 
(0.70)
 1.02 
(0.92)
 10.09 
SAMIX  0.56  0.14  0.19  0.38  0.34 
(0.70)
 1.00 
(0.98)
 9.92 
SSCCX  1.22  0.27  0.08  0.65  1.04 
(3.96)
 3.33 
(3.23)
 15.76 
SSCPX  1.10  0.15  0.12  0.18  1.05 
(1.26)
 2.27 
(1.90)
 11.83 
SSCYX  1.12  0.23  0.17  0.43  1.00 
(1.37)
 2.28 
(1.97)
 13.96 
SBCCX  0.54  0.14  0.23  0.36  0.14 
(0.73)
 0.93 
(0.83)
 10.83 
SBHIX  0.63  0.14  0.15  0.41  0.52 
(0.73)
 1.69 
(1.16)
 4.28 

Energy Basic Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Energy Basic mutual fund to make a market-neutral strategy. Peer analysis of Energy Basic could also be used in its relative valuation, which is a method of valuing Energy Basic by comparing valuation metrics with similar companies.
 Risk & Return  Correlation
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