Sit Quality Correlations

SQIFX Fund

USD 9.69 0.00 0.00%

The current 90-days correlation between Sit Quality Income and Ab Global Bond is 0.57 (i.e., Very weak diversification). The correlation of Sit Quality 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 Quality Correlation With Market

Very poor diversification

The correlation between Sit Quality Income and DJI is 0.86 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sit Quality 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 Quality 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 price.

Moving together with Sit Mutual Fund

0.92	SSCDX	Sit Small Cap	Pair Corr
0.8	GDGIX	Sit Global Dividend	Pair Corr
0.79	GDGSX	Sit Global Dividend	Pair Corr
0.91	SSMGX	Sit Small Cap	Pair Corr
0.9	SDFSX	Sit Small Cap	Pair Corr
0.85	SDMGX	Sit Developing Markets	Pair Corr
0.8	SDVSX	Sit Dividend Growth	Pair Corr
0.8	SDVGX	Sit Dividend Growth	Pair Corr
0.65	SESGX	Sit Esg Growth	Pair Corr
0.76	NBNGX	Sit Mid Cap	Pair Corr
0.64	IESGX	Sit Esg Growth	Pair Corr
0.93	SMTFX	Sit Minnesota Tax	Pair Corr
0.83	SNGRX	Sit International Growth	Pair Corr
0.93	SNGVX	Sit U S	Pair Corr
0.92	SNGYX	Sit Government Securities	Pair Corr
0.86	SNTIX	Sit Tax Free	Pair Corr
0.89	SNTYX	Sit Tax Free	Pair Corr
0.99	SQIYX	Sit Mutual Funds	Pair Corr
0.92	VBIRX	Vanguard Short Term	Pair Corr
0.99	VFSUX	Vanguard Short Term	Pair Corr
0.99	VFSIX	Vanguard Short Term	Pair Corr
0.99	VFSTX	Vanguard Short Term	Pair Corr
0.95	VBITX	Vanguard Short Term	Pair Corr
0.94	VBISX	Vanguard Short Term	Pair Corr
0.97	VSCSX	Vanguard Short Term	Pair Corr
0.95	LALDX	Lord Abbett Short	Pair Corr
0.96	LDLAX	Lord Abbett Short	Pair Corr
0.96	LDLRX	Lord Abbett Short	Pair Corr
0.9	PDI	Pimco Dynamic Income	Pair Corr

Moving against Sit Mutual Fund

0.9	UIPIX	Ultrashort Mid Cap	Pair Corr
0.74	TCTGX	Transamerica Cleartrack	Pair Corr
0.74	TCTJX	Transamerica Cleartrack	Pair Corr
0.74	TCSUX	Cleartrack 2020 Class	Pair Corr
0.73	TDKTX	Cleartrack 2015 Class	Pair Corr
0.73	CESGX	Coho Relative Value	Pair Corr

Related Correlations Analysis

	SGMAX	CNGLX	BXFIX	APDPX	DHGCX	AWF	ANAGX
SGMAX		0.93	0.07	0.9	0.2	0.44	0.61	SGMAX
CNGLX	0.93		0.11	0.88	0.24	0.54	0.62	CNGLX
BXFIX	0.07	0.11		-0.09	-0.03	0.03	0.05	BXFIX
APDPX	0.9	0.88	-0.09		0.16	0.35	0.67	APDPX
DHGCX	0.2	0.24	-0.03	0.16		0.42	0.75	DHGCX
AWF	0.44	0.54	0.03	0.35	0.42		0.43	AWF
ANAGX	0.61	0.62	0.05	0.67	0.75	0.43		ANAGX
	SGMAX	CNGLX	BXFIX	APDPX	DHGCX	AWF	ANAGX

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

CNGLX	+ 0.93	SGMAX
APDPX	+ 0.9	SGMAX
APDPX	+ 0.88	CNGLX
ANAGX	+ 0.75	DHGCX
ANAGX	+ 0.67	APDPX
ANAGX	+ 0.62	CNGLX

High negative correlations

APDPX	- 0.09	BXFIX
DHGCX	- 0.03	BXFIX

Risk-Adjusted Indicators

There is a big difference between Sit Mutual Fund performing well and Sit Quality 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 Quality'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
SGMAX	0.57	0.28	0.52	0.63	0.00	(0.75)	1.02	(0.71)	14.48
CNGLX	0.60	0.04	0.04	0.10	0.68	(0.67)	1.15	(1.20)	5.46
BXFIX	0.07	(0.02)	0.00	(0.79)	0.00	0.00	0.12	(0.12)	0.95
APDPX	0.10	0.07	0.12	(2.49)	0.00	(0.16)	0.28	(0.18)	0.82
DHGCX	0.09	0.00	(0.27)	0.01	0.08	(0.10)	0.21	(0.21)	0.62
AWF	0.26	(0.02)	(0.12)	(0.03)	0.33	(0.30)	0.56	(0.57)	1.33
ANAGX	0.11	0.00	(0.18)	0.17	0.00	(0.18)	0.29	(0.29)	0.58

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