Sit Tax-free Correlations

SNTYX Fund

USD 8.88 0.01 0.11%

The current 90-days correlation between Sit Tax Free and Sit Mid Cap is 0.03 (i.e., Significant diversification). The correlation of Sit Tax-free 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 Tax-free Correlation With Market

Poor diversification

The correlation between Sit Tax Free Income and DJI is 0.69 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sit Tax Free Income 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 Tax Free Income. 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 services.

Moving together with Sit Mutual Fund

0.87	SSCDX	Sit Small Cap	Pair Corr
0.7	GDGIX	Sit Global Dividend	Pair Corr
0.7	GDGSX	Sit Global Dividend	Pair Corr
0.83	SSMGX	Sit Small Cap	Pair Corr
0.87	SDFSX	Sit Small Cap	Pair Corr
0.86	SDMGX	Sit Developing Markets	Pair Corr
0.63	SDVSX	Sit Dividend Growth	Pair Corr
0.63	SDVGX	Sit Dividend Growth	Pair Corr
0.98	SMTFX	Sit Minnesota Tax	Pair Corr
0.83	SNGRX	Sit International Growth	Pair Corr
0.94	SNGVX	Sit U S	Pair Corr
0.94	SNGYX	Sit Government Securities	Pair Corr
1.0	SNTIX	Sit Tax Free	Pair Corr
0.96	SQIYX	Sit Mutual Funds	Pair Corr
0.97	SQIFX	Sit Quality Income	Pair Corr
0.97	VWITX	Vanguard Intermediate-ter	Pair Corr
0.97	VWIUX	Vanguard Intermediate-ter	Pair Corr
0.99	AFTEX	Tax Exempt Bond	Pair Corr
0.99	AFTFX	Tax Exempt Bond	Pair Corr
0.99	TEBCX	Tax Exempt Bond	Pair Corr
0.99	TEAFX	Tax Exempt Bond	Pair Corr
0.99	TFEBX	Tax Exempt Bond	Pair Corr
0.96	FLTMX	Fidelity Intermediate	Pair Corr
0.98	GSMUX	Goldman Sachs Dynamic	Pair Corr
0.98	GSMIX	Goldman Sachs Dynamic	Pair Corr
0.9	VTSNX	Vanguard Total Inter	Pair Corr
0.9	VTISX	Vanguard Total Inter	Pair Corr
0.9	VTPSX	Vanguard Total Inter	Pair Corr

Moving against Sit Mutual Fund

0.37

SNIGX

Sit Large Cap

Pair Corr

Related Correlations Analysis

	SSCDX	GDGIX	GDGSX	SSMGX	SDFSX	SDMGX	SDVSX	SDVGX	SESGX	NBNGX
SSCDX		0.84	0.83	0.98	1.0	0.94	0.78	0.78	0.6	0.77	SSCDX
GDGIX	0.84		1.0	0.85	0.84	0.9	0.76	0.77	0.91	0.91	GDGIX
GDGSX	0.83	1.0		0.85	0.83	0.9	0.76	0.76	0.91	0.91	GDGSX
SSMGX	0.98	0.85	0.85		0.98	0.93	0.89	0.89	0.67	0.85	SSMGX
SDFSX	1.0	0.84	0.83	0.98		0.94	0.78	0.78	0.6	0.77	SDFSX
SDMGX	0.94	0.9	0.9	0.93	0.94		0.78	0.78	0.71	0.81	SDMGX
SDVSX	0.78	0.76	0.76	0.89	0.78	0.78		1.0	0.74	0.88	SDVSX
SDVGX	0.78	0.77	0.76	0.89	0.78	0.78	1.0		0.74	0.88	SDVGX
SESGX	0.6	0.91	0.91	0.67	0.6	0.71	0.74	0.74		0.9	SESGX
NBNGX	0.77	0.91	0.91	0.85	0.77	0.81	0.88	0.88	0.9		NBNGX
	SSCDX	GDGIX	GDGSX	SSMGX	SDFSX	SDMGX	SDVSX	SDVGX	SESGX	NBNGX

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Risk-Adjusted Indicators

There is a big difference between Sit Mutual Fund performing well and Sit Tax-free 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 Tax-free'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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
SSCDX	0.71	0.15	0.18	0.24	0.53	(0.86)	1.71	(1.36)	4.82
GDGIX	0.52	0.03	0.01	0.13	0.62	(0.56)	0.98	(1.11)	3.57
GDGSX	0.52	0.03	0.01	0.13	0.63	(0.55)	0.99	(1.11)	3.61
SSMGX	0.88	0.25	0.24	0.36	0.55	(1.01)	1.89	(1.35)	7.05
SDFSX	0.71	0.15	0.17	0.24	0.52	(0.88)	1.71	(1.36)	4.77
SDMGX	0.66	0.19	0.17	0.37	0.58	(0.77)	1.85	(1.67)	3.99
SDVSX	0.61	0.19	0.21	0.47	0.34	(0.74)	0.99	(1.04)	11.34
SDVGX	0.60	0.19	0.21	0.47	0.31	(0.74)	0.98	(1.03)	11.18
SESGX	0.51	0.00	(0.04)	0.08	0.70	(0.52)	0.90	(1.24)	3.72
NBNGX	0.89	0.10	0.08	0.18	1.03	(0.93)	1.62	(1.79)	5.64

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