Financial Services Correlations

SFPAX Fund

USD 11.50 0.14 1.23%

The current 90-days correlation between Financial Services and Rbc Microcap Value is 0.76 (i.e., Poor diversification). The correlation of Financial Services 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.

Financial Services Correlation With Market

Very poor diversification

The correlation between Financial Services Portfolio and DJI is 0.84 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Financial Services Portfolio 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 Financial Services Portfolio. 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 nation.

Moving together with Financial Mutual Fund

0.89	SABAX	Salient Alternative Beta	Pair Corr
0.9	SABIX	Aggressive Balanced	Pair Corr
0.89	SABCX	Salient Alternative Beta	Pair Corr
0.88	SAMAX	Moderately Aggressive	Pair Corr
0.88	SAMCX	Salient Mlp Fund	Pair Corr
0.89	SAMIX	Moderately Aggressive	Pair Corr
0.83	SSCCX	Small Capitalization	Pair Corr
0.84	SSCPX	Small Capitalization	Pair Corr
0.84	SSCYX	Small Capitalization	Pair Corr
0.86	SBCCX	Moderately Conservative	Pair Corr
0.88	SBMCX	Moderate Balanced	Pair Corr
0.89	SBMIX	Moderate Balanced	Pair Corr
0.87	STPAX	Technology Communications	Pair Corr
0.87	STPCX	Technology Communications	Pair Corr
0.87	STPIX	Technology Communications	Pair Corr
0.8	SCAAX	Conservative Balanced	Pair Corr
0.79	SUMCX	Conservative Balanced	Pair Corr
1.0	SFPCX	Financial Services	Pair Corr
0.97	SFPIX	Financial Services	Pair Corr
0.93	SLCGX	Large Capitalization	Pair Corr
0.81	SLCVX	Large Cap Value	Pair Corr
0.93	SLGCX	Large Capitalization	Pair Corr
0.93	SLGYX	Large Capitalization	Pair Corr
0.8	SLVCX	Large Cap Value	Pair Corr
0.8	SLVYX	Large Cap Value	Pair Corr
0.88	SMACX	Moderately Conservative	Pair Corr

Moving against Financial Mutual Fund

0.82	SIBPX	Investment Quality Bond	Pair Corr
0.56	SHPCX	Health Biotchnology	Pair Corr
0.55	SHPAX	Health Biotchnology	Pair Corr
0.53	SBHIX	Health Biotchnology	Pair Corr
0.84	SQBCX	Investment Quality Bond	Pair Corr
0.83	SQBAX	Investment Quality Bond	Pair Corr
0.65	SMBCX	Municipal Bond Portfolio	Pair Corr
0.61	SMBAX	Municipal Bond Portfolio	Pair Corr
0.57	SMBPX	Municipal Bond Portfolio	Pair Corr
0.32	SIECX	International Equity	Pair Corr

Related Correlations Analysis

	TMVAX	FFCGX	OPTCX	LMUSX	IAADX	FALCX	FIJFX
TMVAX		0.64	0.87	0.86	-0.11	0.0	0.48	TMVAX
FFCGX	0.64		0.77	0.78	0.38	0.0	0.88	FFCGX
OPTCX	0.87	0.77		0.97	0.09	0.0	0.69	OPTCX
LMUSX	0.86	0.78	0.97		0.0	0.0	0.71	LMUSX
IAADX	-0.11	0.38	0.09	0.0		0.0	0.44	IAADX
FALCX	0.0	0.0	0.0	0.0	0.0		0.0	FALCX
FIJFX	0.48	0.88	0.69	0.71	0.44	0.0		FIJFX
	TMVAX	FFCGX	OPTCX	LMUSX	IAADX	FALCX	FIJFX

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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

LMUSX	+ 0.97	OPTCX
FIJFX	+ 0.88	FFCGX
OPTCX	+ 0.87	TMVAX
LMUSX	+ 0.86	TMVAX
LMUSX	+ 0.78	FFCGX
OPTCX	+ 0.77	FFCGX

High negative correlations

IAADX	- 0.11	TMVAX
FIJFX	- 0.0	FALCX
FALCX	- 0.0	IAADX
FALCX	- 0.0	LMUSX
IAADX	- 0.0	LMUSX
FALCX	- 0.0	OPTCX

Risk-Adjusted Indicators

There is a big difference between Financial Mutual Fund performing well and Financial Services 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 Financial Services' 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 Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
TMVAX	0.88	0.03	0.05	0.12	0.78	(1.12)	2.29	(1.70)	8.08
FFCGX	0.59	(0.05)	(0.09)	0.04	0.71	(0.63)	1.27	(1.23)	3.68
OPTCX	0.16	0.04	(0.32)	1.34	0.00	(0.24)	0.41	(0.21)	1.07
LMUSX	0.63	0.12	0.02	(11.72)	0.75	(0.72)	1.52	(1.49)	4.15
IAADX	0.17	(0.01)	(0.51)	(0.30)	0.16	(0.24)	0.43	(0.32)	1.19
FALCX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
FIJFX	0.77	0.06	(0.04)	(0.71)	0.87	(0.83)	1.90	(1.48)	5.17

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