Financial Services Correlations

Mutual Funds . USA . 
Fund . Financial Services Portfolio
SFPIX Fund  USD 12.41  0.04  0.32%   
The current 90-days correlation between Financial Services and Salient Alternative Beta is 0.68 (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

Modest diversification

The correlation between Financial Services Portfolio 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 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 gross domestic product.

Moving together with Financial Mutual Fund

  0.86SABAX Salient Alternative BetaPairCorr
  0.86SABIX Aggressive BalancedPairCorr
  0.86SABCX Salient Alternative BetaPairCorr
  0.87SAMAX Moderately AggressivePairCorr
  0.87SAMCX Salient Mlp FundPairCorr
  0.87SAMIX Moderately AggressivePairCorr
  0.67SSCCX Small CapitalizationPairCorr
  0.85SSCPX Small CapitalizationPairCorr
  0.83SSCYX Small CapitalizationPairCorr
  0.82SBCCX Moderately ConservativePairCorr
  0.64SBHIX Health BiotchnologyPairCorr
  0.69SBMBX Energy Basic MaterialsPairCorr
  0.86SBMCX Moderate BalancedPairCorr
  0.81SBMIX Moderate BalancedPairCorr
  0.8STPAX Technology CommunicationsPairCorr
  0.73STPCX Technology CommunicationsPairCorr
  0.83STPIX Technology CommunicationsPairCorr
  0.8SCAAX Conservative BalancedPairCorr
  0.82SUMCX Conservative BalancedPairCorr
  0.68SEPIX Energy Basic MaterialsPairCorr
  0.69SEPCX Energy Basic MaterialsPairCorr
  1.0SFPCX Financial ServicesPairCorr
  0.92SFPAX Financial ServicesPairCorr
  0.64SHPAX Health BiotchnologyPairCorr
  0.67SHPCX Health BiotchnologyPairCorr
  0.83SLCGX Large CapitalizationPairCorr
  0.69SLCVX Large Cap ValuePairCorr
  0.74SLGCX Large CapitalizationPairCorr
  0.82SLGYX Large CapitalizationPairCorr
  0.72SLVCX Large Cap ValuePairCorr
  0.73SLVYX Large Cap ValuePairCorr
  0.62SMBCX Municipal Bond PortfolioPairCorr
  0.75SMBAX Municipal Bond PortfolioPairCorr
  0.8SMACX Moderately ConservativePairCorr
  0.74SMBPX Municipal Bond PortfolioPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
SABAX  0.53  0.00 (0.03) 0.04  0.78 
(0.50)
 1.10 
(0.99)
 4.51 
SABIX  0.53  0.00 (0.03) 0.04  0.81 
(0.49)
 1.10 
(1.01)
 4.49 
SABCX  0.53 (0.01)(0.04) 0.03  0.80 
(0.48)
 1.11 
(1.02)
 4.36 
SAMAX  0.50 (0.01)(0.05) 0.01  0.77 
(0.46)
 1.01 
(0.91)
 4.00 
SAMCX  0.48 (0.01)(0.05) 0.01  0.77 
(0.43)
 1.02 
(1.00)
 4.12 
SAMIX  0.50 (0.01)(0.05) 0.02  0.78 
(0.45)
 1.00 
(0.98)
 4.06 
SSCCX  2.42 (1.07) 0.00 (0.91) 0.00 
 0.00 
 2.70 
(2.63)
 72.86 
SSCPX  1.05 (0.19) 0.00 (0.24) 0.00 
 0.00 
 2.26 
(1.90)
 15.53 
SSCYX  1.09 (0.21) 0.00 (0.28) 0.00 
 0.00 
 2.01 
(1.93)
 17.14 
SBCCX  0.47 (0.01)(0.04) 0.03  0.72 
(0.43)
 0.85 
(0.82)
 3.50 

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