Sound Shore Correlations
| SSHVX Fund | USD 40.38 0.36 0.88% |
The current 90-days correlation between Sound Shore Fund and Hartford Schroders Smallmid is 0.23 (i.e., Modest diversification). The correlation of Sound Shore 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.
Sound Shore Correlation With Market
Average diversification
The correlation between Sound Shore Fund and DJI is 0.19 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sound Shore Fund and DJI in the same portfolio, assuming nothing else is changed.
Sound |
Moving together with Sound Mutual Fund
| 1.0 | SSHFX | Sound Shore Fund | PairCorr |
| 0.66 | AFMFX | American Mutual | PairCorr |
| 0.66 | FFMMX | American Funds American | PairCorr |
| 0.66 | FFFMX | American Funds American | PairCorr |
| 0.66 | AMRMX | American Mutual | PairCorr |
| 0.66 | AMFFX | American Mutual | PairCorr |
| 0.67 | AMFCX | American Mutual | PairCorr |
| 0.66 | DODGX | Dodge Stock Fund | PairCorr |
| 0.66 | IOWAX | Collegeadvantage 529 | PairCorr |
| 0.64 | FCTGX | Fidelity Small Cap | PairCorr |
Moving against Sound Mutual Fund
| 0.76 | PLFDX | Pacific Funds Floating | PairCorr |
| 0.52 | SCIOX | Columbia Seligman | PairCorr |
| 0.47 | VCFAX | Voya Securitized Credit | PairCorr |
| 0.4 | LETRX | Voya Russia Fund | PairCorr |
| 0.34 | LALDX | Lord Abbett Short | PairCorr |
| 0.67 | PIIVX | Private Shares | PairCorr |
| 0.37 | MEGTX | Msvif Growth Port Steady Growth | PairCorr |
| 0.33 | JCE | Nuveen Core Equity | PairCorr |
Related Correlations Analysis
| 1.0 | -0.13 | 0.97 | 0.0 | HFDYX | ||
| 1.0 | -0.12 | 0.97 | 0.0 | HFDTX | ||
| -0.13 | -0.12 | -0.11 | 0.0 | MMDEX | ||
| 0.97 | 0.97 | -0.11 | 0.0 | ADGZX | ||
| 0.0 | 0.0 | 0.0 | 0.0 | ADGKX | ||
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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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Sound Mutual Fund performing well and Sound Shore 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 Sound Shore'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| HFDYX | 0.73 | (0.09) | 0.00 | (0.07) | 0.00 | 1.14 | 9.20 | |||
| HFDTX | 0.73 | (0.09) | 0.00 | (0.07) | 0.00 | 1.14 | 9.21 | |||
| MMDEX | 0.85 | 0.03 | (0.01) | 0.16 | 1.11 | 1.66 | 5.41 | |||
| ADGZX | 0.80 | (0.09) | 0.00 | (0.06) | 0.00 | 1.31 | 11.33 | |||
| ADGKX | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |