Energy Basic Correlations

Mutual Funds . USA . 
Fund . Energy Basic Materials
SEPIX Fund  USD 13.47  0.06  0.44%   
The current 90-days correlation between Energy Basic Materials and Angel Oak Ultrashort is 0.16 (i.e., Average 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

Modest diversification

The correlation between Energy Basic Materials and DJI is 0.28 (i.e., Modest 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, which includes a position in Energy Basic Materials. 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

  0.61SAMAX Moderately AggressivePairCorr
  0.63SAMCX Salient Mlp FundPairCorr
  0.81SSCCX Small CapitalizationPairCorr
  0.79SSCPX Small CapitalizationPairCorr
  0.8SSCYX Small CapitalizationPairCorr
  0.89SBHIX Health BiotchnologyPairCorr
  1.0SBMBX Energy Basic MaterialsPairCorr
  0.61SBMCX Moderate BalancedPairCorr
  0.8STPAX Technology CommunicationsPairCorr
  0.81STPCX Technology CommunicationsPairCorr
  0.78STPIX Technology CommunicationsPairCorr
  1.0SEPCX Energy Basic MaterialsPairCorr
  0.72SFPCX Financial ServicesPairCorr
  0.71SFPAX Financial ServicesPairCorr
  0.68SFPIX Financial ServicesPairCorr
  0.89SHPAX Health BiotchnologyPairCorr
  0.89SHPCX Health BiotchnologyPairCorr
  0.77SLCGX Large CapitalizationPairCorr
  0.85SLCVX Large Cap ValuePairCorr
  0.8SLGCX Large CapitalizationPairCorr
  0.79SLGYX Large CapitalizationPairCorr
  0.84SLVCX Large Cap ValuePairCorr
  0.85SLVYX Large Cap ValuePairCorr

Related Correlations Analysis

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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.

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