Siit Small Correlations

Mutual Funds . USA . 
Fund . Siit Small Cap
SLPAX Fund  USD 12.84  0.01  0.08%   
The current 90-days correlation between Siit Small Cap and Hennessy Technology Fund is 0.08 (i.e., Significant diversification). The correlation of Siit Small 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.

Siit Small Correlation With Market

Very poor diversification

The correlation between Siit Small Cap 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 Siit Small Cap 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 Siit Small Cap. 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 Siit Mutual Fund

  0.73SAAAX Simt Multi AssetPairCorr
  0.96SRWAX Saat Market GrowthPairCorr
  0.97SSCGX Simt Small CapPairCorr
  1.0SSEAX Siit Screened WorldPairCorr
  0.99SSGAX Saat Aggressive StrategyPairCorr
  0.99SASDX Saat Aggressive StrategyPairCorr
  0.98SSMAX Siit Small MidPairCorr
  0.84TFCAX Tax Free ConservativePairCorr
  0.81TFCYX Tax Free ConservativePairCorr
  0.98SSPIX Simt Sp 500PairCorr
  0.88SSTDX Saat Servative StrategyPairCorr
  0.84SBDAX Stet California MunicipalPairCorr
  0.91STDAX Saat Defensive StrategyPairCorr
  0.92ENIAX Siit Opportunistic IncomePairCorr
  0.9STLYX Simt Tax ManagedPairCorr
  0.95STMPX Simt Tax ManagedPairCorr
  0.95STMSX Simt Tax ManagedPairCorr
  0.97STVYX Simt Tax ManagedPairCorr
  0.89SCMSX Saat E MarketPairCorr
  0.96SCLAX Simt Multi AssetPairCorr
  1.0SCPAX Siit Large CapPairCorr
  0.84SCYYX Stet California MunicipalPairCorr
  0.87SUMAX Stet Short DurationPairCorr
  0.97SUSYX Simt Managed VolatilityPairCorr
  0.84SUSAX Siit Ultra ShortPairCorr
  0.83SDGFX Sdit Short DurationPairCorr
  0.97SDLAX Siit Dynamic AssetPairCorr
  0.98SVAYX Simt Large CapPairCorr
  0.97SDYAX Simt Dynamic AssetPairCorr
  0.97SVOAX Simt Managed VolatilityPairCorr
  0.97SDYYX Simt Dynamic AssetPairCorr
  0.88SVSAX Saat Servative StrategyPairCorr
  0.99SEAIX Saat Aggressive StrategyPairCorr

Moving against Siit Mutual Fund

  0.99SVYAX Siit Managed VolatilityPairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

There is a big difference between Siit Mutual Fund performing well and Siit Small 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 Siit Small'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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