Snow Capital Correlations

SNWIX Fund

USD 75.18 0.12 0.16%

The current 90-days correlation between Snow Capital Small and Total Market Portfolio is 0.35 (i.e., Weak 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 0.77 (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 gross domestic product.

Moving together with Snow Mutual Fund

0.96	SNOAX	Snow Capital Opportunity	Pair Corr
0.97	SNOCX	Snow Capital Opportunity	Pair Corr
0.96	SNOIX	Snow Capital Opportunity	Pair Corr
1.0	SNWAX	Snow Capital Small	Pair Corr
1.0	SNWCX	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
0.93	VBCVX	Broad Cap Value	Pair Corr
0.69	STENX	Northern Lights	Pair Corr
0.79	NOIYX	Natixis Oakmark Intl	Pair Corr
0.7	JRTIX	Multi Index 2030	Pair Corr
0.66	IAGAX	Voya Solution Moderately	Pair Corr
0.62	BXDCX	Barings Active Short	Pair Corr
0.71	JTOIX	Multimanager Lifestyle	Pair Corr

Moving against Snow Mutual Fund

0.39	UBVCX	Undiscovered Managers	Pair Corr
0.37	USPSX	Profunds Ultrashort	Pair Corr
0.33	UBVSX	Undiscovered Managers	Pair Corr
0.32	UBVAX	Undiscovered Managers	Pair Corr
0.32	TCSUX	Cleartrack 2020 Class	Pair Corr
0.31	TCTGX	Transamerica Cleartrack	Pair Corr
0.31	TCTJX	Transamerica Cleartrack	Pair Corr
0.87	UIPIX	Ultrashort Mid Cap	Pair Corr
0.7	CESGX	Coho Relative Value	Pair Corr
0.36	USPIX	Profunds Ultrashort	Pair Corr

Related Correlations Analysis

	GTTMX	SGPIX	DIVE	WEBAX	CASAX	GVALX	RWGFX	SAOIX	RYCIX	TGPNX
GTTMX		-0.15	-0.33	0.12	0.18	0.7	0.7	-0.3	0.77	0.07	GTTMX
SGPIX	-0.15		0.9	0.82	0.38	0.12	-0.06	0.42	-0.23	0.66	SGPIX
DIVE	-0.33	0.9		0.61	0.26	-0.01	-0.19	0.47	-0.3	0.45	DIVE
WEBAX	0.12	0.82	0.61		0.7	0.26	0.06	0.38	-0.13	0.89	WEBAX
CASAX	0.18	0.38	0.26	0.7		0.28	0.02	0.33	-0.02	0.73	CASAX
GVALX	0.7	0.12	-0.01	0.26	0.28		0.78	-0.17	0.72	0.17	GVALX
RWGFX	0.7	-0.06	-0.19	0.06	0.02	0.78		-0.15	0.88	0.0	RWGFX
SAOIX	-0.3	0.42	0.47	0.38	0.33	-0.17	-0.15		-0.2	0.5	SAOIX
RYCIX	0.77	-0.23	-0.3	-0.13	-0.02	0.72	0.88	-0.2		-0.11	RYCIX
TGPNX	0.07	0.66	0.45	0.89	0.73	0.17	0.0	0.5	-0.11		TGPNX
	GTTMX	SGPIX	DIVE	WEBAX	CASAX	GVALX	RWGFX	SAOIX	RYCIX	TGPNX

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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

DIVE	+ 0.9	SGPIX
TGPNX	+ 0.89	WEBAX
RYCIX	+ 0.88	RWGFX
WEBAX	+ 0.82	SGPIX
RWGFX	+ 0.78	GVALX
RYCIX	+ 0.77	GTTMX

High negative correlations

DIVE	- 0.33	GTTMX
RYCIX	- 0.3	DIVE
SAOIX	- 0.3	GTTMX
RYCIX	- 0.23	SGPIX
RYCIX	- 0.2	SAOIX
RWGFX	- 0.19	DIVE

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
GTTMX	1.01	(0.23)	0.00	(0.14)	0.00	0.00	1.36	(1.73)	17.29
SGPIX	0.81	(0.06)	(0.04)	0.02	1.05	(0.75)	1.69	(1.52)	4.19
DIVE	0.59	(0.02)	(0.03)	0.05	0.83	(0.59)	1.33	(1.11)	4.47
WEBAX	0.34	(0.02)	(0.11)	0.03	0.42	(0.37)	0.76	(0.64)	1.82
CASAX	0.75	0.03	(0.02)	0.19	0.92	(0.79)	1.63	(1.67)	4.36
GVALX	0.71	(0.16)	0.00	(0.10)	0.00	0.00	1.00	(1.00)	12.90
RWGFX	0.83	(0.30)	0.00	(0.19)	0.00	0.00	1.45	(1.46)	14.28
SAOIX	0.39	(0.02)	(0.10)	0.03	0.51	(0.39)	0.78	(0.85)	2.74
RYCIX	0.78	(0.30)	0.00	(0.43)	0.00	0.00	1.33	(1.10)	16.61
TGPNX	0.22	(0.01)	(0.16)	0.04	0.25	(0.25)	0.49	(0.49)	1.38

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