Snow Capital Correlations

SNWAX Fund

USD 72.77 0.11 0.15%

The current 90-days correlation between Snow Capital Small and Snow Capital Opportunity is 0.78 (i.e., Poor diversification). The correlation of Snow Capital 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.

Snow Capital Correlation With Market

Poor diversification

The correlation between Snow Capital Small and DJI is 0.76 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Snow Capital Small 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 Snow Capital Small. 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 Snow Mutual Fund

0.97	SNOAX	Snow Capital Opportunity	Pair Corr
0.94	SNOCX	Snow Capital Opportunity	Pair Corr
0.97	SNOIX	Snow Capital Opportunity	Pair Corr
1.0	SNWCX	Snow Capital Small	Pair Corr
1.0	SNWIX	Snow Capital Small	Pair Corr
0.92	VSIIX	Vanguard Small Cap	Pair Corr
0.92	VISVX	Vanguard Small Cap	Pair Corr
0.95	DFSVX	Us Small Cap	Pair Corr
0.95	DFFVX	Us Targeted Value	Pair Corr
0.72	APDTX	Artisan Thematic	Pair Corr
0.65	PFFFX	Pfg Fidelity Institu	Pair Corr
0.72	RLBGX	American Balanced	Pair Corr
0.65	ARMLX	Western Asset Adjustable	Pair Corr
0.61	FXAIX	Fidelity 500 Index	Pair Corr
0.71	JQLAX	Multimanager Lifestyle	Pair Corr
0.78	DSCIX	Dana Small Cap	Pair Corr
0.73	QUAYX	Ab Small Cap	Pair Corr
0.92	VIOAX	Vela Income Opportunities	Pair Corr
0.63	CRF	Cornerstone Total Return	Pair Corr
0.63	STILX	Federated Strategic	Pair Corr
0.64	HILIX	Hartford International	Pair Corr
0.82	JNUSX	Jpmorgan International	Pair Corr
0.73	MXAUX	Great West Lifetime	Pair Corr

Moving against Snow Mutual Fund

0.48	UBVCX	Undiscovered Managers	Pair Corr
0.35	UBVAX	Undiscovered Managers	Pair Corr
0.33	UBVSX	Undiscovered Managers	Pair Corr
0.31	HGLB	Highland Global Allo	Pair Corr

Related Correlations Analysis

	SNOAX	SNOCX	SNWAX	SNWIX	JBYSX	PRPDX	FXAIX	VWAHX	CIQGX	FTCWX
SNOAX		0.98	0.97	0.97	0.64	0.91	0.57	0.24	0.79	0.53	SNOAX
SNOCX	0.98		0.94	0.94	0.67	0.9	0.55	0.25	0.77	0.51	SNOCX
SNWAX	0.97	0.94		1.0	0.66	0.89	0.61	0.16	0.82	0.56	SNWAX
SNWIX	0.97	0.94	1.0		0.67	0.89	0.61	0.16	0.82	0.56	SNWIX
JBYSX	0.64	0.67	0.66	0.67		0.78	0.81	0.63	0.86	0.89	JBYSX
PRPDX	0.91	0.9	0.89	0.89	0.78		0.69	0.47	0.85	0.73	PRPDX
FXAIX	0.57	0.55	0.61	0.61	0.81	0.69		0.53	0.86	0.92	FXAIX
VWAHX	0.24	0.25	0.16	0.16	0.63	0.47	0.53		0.48	0.73	VWAHX
CIQGX	0.79	0.77	0.82	0.82	0.86	0.85	0.86	0.48		0.88	CIQGX
FTCWX	0.53	0.51	0.56	0.56	0.89	0.73	0.92	0.73	0.88		FTCWX
	SNOAX	SNOCX	SNWAX	SNWIX	JBYSX	PRPDX	FXAIX	VWAHX	CIQGX	FTCWX

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Risk-Adjusted Indicators

There is a big difference between Snow Mutual Fund performing well and Snow Capital 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 Snow Capital'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
SNOAX	0.76	0.13	0.14	0.24	0.54	(0.87)	1.77	(1.27)	6.64
SNOCX	0.77	0.19	0.14	2.79	0.55	(0.88)	1.78	(1.27)	7.16
SNWAX	1.00	0.06	0.07	0.11	1.15	(1.09)	2.94	(1.93)	5.73
SNWIX	1.00	0.06	0.07	0.11	1.17	(1.12)	2.94	(1.91)	5.74
JBYSX	0.25	0.03	(0.09)	0.70	0.25	(0.27)	0.54	(0.50)	1.40
PRPDX	0.50	0.11	0.10	0.28	0.40	(0.54)	1.23	(0.87)	3.55
FXAIX	0.57	0.00	(0.01)	0.07	0.82	(0.54)	1.23	(1.17)	3.29
VWAHX	0.09	0.01	(0.36)	(2.47)	0.00	(0.16)	0.28	(0.19)	0.85
CIQGX	0.28	0.00	(0.12)	0.06	0.27	(0.31)	0.55	(0.55)	1.39
FTCWX	0.16	0.00	(0.22)	0.07	0.12	(0.19)	0.35	(0.28)	0.99

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