Snow Capital Correlations

SNWIX Fund

USD 78.99 0.88 1.10%

The current 90-days correlation between Snow Capital Small and Tcw Servative Allocation is 0.51 (i.e., Very 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

Almost no diversification

The correlation between Snow Capital Small and DJI is 0.92 (i.e., Almost no 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

0.97	SNOAX	Snow Capital Opportunity	Pair Corr
0.98	SNOCX	Snow Capital Opportunity	Pair Corr
0.99	SNOIX	Snow Capital Opportunity	Pair Corr
0.98	SNWAX	Snow Capital Small	Pair Corr
1.0	SNWCX	Snow Capital Small	Pair Corr
0.94	VSIIX	Vanguard Small Cap	Pair Corr
0.94	VISVX	Vanguard Small Cap	Pair Corr
0.94	DFSVX	Us Small Cap	Pair Corr
0.95	DFFVX	Us Targeted Value	Pair Corr
0.96	UBVCX	Undiscovered Managers	Pair Corr
0.94	UBVAX	Undiscovered Managers	Pair Corr
0.97	UBVSX	Undiscovered Managers	Pair Corr
0.89	VSMCX	Invesco Small Cap	Pair Corr
0.69	PDI	Pimco Dynamic Income	Pair Corr
0.93	TRERX	Tiaa Cref International	Pair Corr
0.77	FBSSX	American Funds Strategic	Pair Corr
0.73	MDBRX	Massmutual Premier	Pair Corr
0.91	TEDVX	Tiaa Cref Emerging	Pair Corr
0.84	TXIFX	American Funds Tax	Pair Corr
0.83	PIBAX	Prudential Balanced	Pair Corr
0.77	WCAFX	Wealthbuilder Conservative	Pair Corr
0.88	FFLEX	Fidelity Freedom Index	Pair Corr
0.86	FRBHX	Fidelity Freedom 2070	Pair Corr
0.72	KYTFX	Kentucky Tax Free	Pair Corr
0.91	PHJUX	Principal Lifetime Hybrid	Pair Corr
0.85	GTEYX	Gateway Fund Class	Pair Corr
0.88	CWGIX	Capital World Growth	Pair Corr
0.88	FEVIX	First Eagle Value	Pair Corr
0.7	FDPSX	Falling Dollar Profund	Pair Corr
0.85	WRHIX	Ivy High Income	Pair Corr
0.73	GAAEX	Guinness Atkinson	Pair Corr

Moving against Snow Mutual Fund

0.92	TCTGX	Transamerica Cleartrack	Pair Corr
0.92	TDKTX	Cleartrack 2015 Class	Pair Corr
0.92	TCTJX	Transamerica Cleartrack	Pair Corr
0.42	USPSX	Profunds Ultrashort	Pair Corr
0.94	UIPIX	Ultrashort Mid Cap	Pair Corr
0.9	TCSUX	Cleartrack 2020 Class	Pair Corr
0.71	CESGX	Coho Relative Value	Pair Corr
0.4	USPIX	Profunds Ultrashort	Pair Corr

Related Correlations Analysis

	GTTMX	SGPIX	DIVE	WEBAX	CASAX	GVALX	RWGFX	SAOIX	RYCIX	TGPNX
GTTMX		0.79	0.89	0.72	0.83	0.95	0.95	0.74	0.95	0.76	GTTMX
SGPIX	0.79		0.9	0.92	0.85	0.84	0.78	0.75	0.8	0.91	SGPIX
DIVE	0.89	0.9		0.86	0.95	0.92	0.88	0.81	0.89	0.89	DIVE
WEBAX	0.72	0.92	0.86		0.87	0.8	0.75	0.8	0.75	0.95	WEBAX
CASAX	0.83	0.85	0.95	0.87		0.89	0.86	0.88	0.86	0.91	CASAX
GVALX	0.95	0.84	0.92	0.8	0.89		0.98	0.83	0.97	0.83	GVALX
RWGFX	0.95	0.78	0.88	0.75	0.86	0.98		0.75	0.94	0.8	RWGFX
SAOIX	0.74	0.75	0.81	0.8	0.88	0.83	0.75		0.85	0.78	SAOIX
RYCIX	0.95	0.8	0.89	0.75	0.86	0.97	0.94	0.85		0.77	RYCIX
TGPNX	0.76	0.91	0.89	0.95	0.91	0.83	0.8	0.78	0.77		TGPNX
	GTTMX	SGPIX	DIVE	WEBAX	CASAX	GVALX	RWGFX	SAOIX	RYCIX	TGPNX

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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
GTTMX	1.13	0.39	0.40	0.56	0.28	(1.43)	1.81	(1.43)	25.07
SGPIX	0.82	0.06	0.07	0.14	0.78	(0.90)	2.33	(1.48)	4.79
DIVE	0.66	0.14	0.05	(2.62)	0.66	(0.74)	1.43	(1.13)	4.25
WEBAX	0.35	0.00	(0.09)	0.08	0.41	(0.38)	0.85	(0.64)	2.43
CASAX	0.78	0.11	0.02	6.53	0.96	(0.76)	1.57	(1.71)	4.56
GVALX	0.75	0.30	0.45	0.57	0.00	(1.01)	1.59	(0.99)	13.17
RWGFX	0.85	0.21	0.18	0.48	0.48	(1.23)	1.42	(1.14)	16.71
SAOIX	0.39	0.12	0.06	(2.73)	0.19	(0.47)	1.01	(0.73)	2.70
RYCIX	0.92	0.44	0.58	(5.18)	0.00	(1.30)	1.41	(0.95)	18.79
TGPNX	0.23	0.01	(0.19)	0.11	0.18	(0.30)	0.51	(0.50)	1.18

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