Sit Emerging Correlations

Mutual Funds . USA . 
Fund . Sit Emerging Markets
SIEMX Fund  USD 11.14  0.15  1.36%   
The current 90-days correlation between Sit Emerging Markets and Redwood Real Estate is -0.05 (i.e., Good diversification). The correlation of Sit Emerging 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 Emerging Correlation With Market

Very weak diversification

The correlation between Sit Emerging Markets and DJI is 0.4 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sit Emerging 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 Emerging 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 population.

Moving together with Sit Mutual Fund

  0.9SSEAX Siit Screened WorldPairCorr
  0.64SSPIX Simt Sp 500PairCorr
  0.64STLYX Simt Tax ManagedPairCorr
  0.62STMPX Simt Tax ManagedPairCorr
  0.62STMSX Simt Tax ManagedPairCorr
  0.69STVYX Simt Tax ManagedPairCorr
  0.7SCLAX Simt Multi AssetPairCorr
  0.63CFVYX Catholic Values FixedPairCorr
  0.66SCPAX Siit Large CapPairCorr
  0.61SCXIX Sei Insti MgdPairCorr
  0.65SUSYX Simt Managed VolatilityPairCorr
  0.68SDLAX Siit Dynamic AssetPairCorr
  0.65SVOAX Simt Managed VolatilityPairCorr

Moving against Sit Mutual Fund

  0.72ENIAX Siit Opportunistic IncomePairCorr
  0.67TFCAX Tax Free ConservativePairCorr
  0.67STDAX Saat Defensive StrategyPairCorr
  0.64TFCYX Tax Free ConservativePairCorr
  0.69SECYX Sdit Ultra ShortPairCorr
  0.67SUSAX Siit Ultra ShortPairCorr
  0.67SECPX Sdit Ultra ShortPairCorr
  0.59SDGFX Sdit Short DurationPairCorr
  0.41SUMAX Stet Short DurationPairCorr

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   
TIRHX
+ 1.0
IVRSX
SEIRX
+ 0.99
PJEAX
FORFX
+ 0.98
CREMX
TIRHX
+ 0.94
SEIRX
TIRHX
+ 0.93
PJEAX
IVRSX
+ 0.93
SEIRX
  
High negative correlations   
IVRSX
- 0.76
CREMX
SEIRX
- 0.74
CREMX
IVRSX
- 0.73
FORFX
TIRHX
- 0.73
CREMX
SEIRX
- 0.72
FORFX
TIRHX
- 0.7
FORFX

Risk-Adjusted Indicators

There is a big difference between Sit Mutual Fund performing well and Sit Emerging 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 Emerging'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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