Smead International Correlations

SVXYX Fund

USD 57.69 0.53 0.93%

The current 90-days correlation between Smead International Value and Smead Value Fund is 0.49 (i.e., Very weak diversification). The correlation of Smead International 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.

Smead International Correlation With Market

Modest diversification

The correlation between Smead International Value and DJI is 0.26 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Smead International Value 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 Smead International Value. 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 manufacturing.

Moving together with Smead Mutual Fund

1.0	SVXCX	Smead International Value	Pair Corr
1.0	SVXFX	Smead Funds Trust	Pair Corr
1.0	SVXAX	Smead Funds Trust	Pair Corr
1.0	SVXLX	Smead Funds Trust	Pair Corr
0.75	DOXFX	Dodge Cox International	Pair Corr
0.76	OANIX	Oakmark International	Pair Corr
0.75	DODFX	Dodge International Stock	Pair Corr
0.76	OAKIX	Oakmark International	Pair Corr
0.76	OAYIX	Oakmark International	Pair Corr
0.76	OAZIX	Oakmark International	Pair Corr
0.79	FINVX	Fidelity Series Inte	Pair Corr
0.8	VTRIX	Vanguard International	Pair Corr
0.76	RRIGX	T Rowe Price	Pair Corr

Moving against Smead Mutual Fund

0.45	XPPRX	Voya Prime Rate	Pair Corr
0.32	GAB	Gabelli Equity Trust	Pair Corr

Related Correlations Analysis

	SVFAX	SVFCX	SVFFX	SVFSX	SVFMX	SVFYX	SMVLX	SVXCX
SVFAX		1.0	1.0	0.0	0.0	1.0	1.0	0.5	SVFAX
SVFCX	1.0		1.0	0.0	0.0	1.0	1.0	0.53	SVFCX
SVFFX	1.0	1.0		0.0	0.0	1.0	1.0	0.5	SVFFX
SVFSX	0.0	0.0	0.0		0.0	0.0	0.0	0.0	SVFSX
SVFMX	0.0	0.0	0.0	0.0		0.0	0.0	0.0	SVFMX
SVFYX	1.0	1.0	1.0	0.0	0.0		1.0	0.51	SVFYX
SMVLX	1.0	1.0	1.0	0.0	0.0	1.0		0.51	SMVLX
SVXCX	0.5	0.53	0.5	0.0	0.0	0.51	0.51		SVXCX
	SVFAX	SVFCX	SVFFX	SVFSX	SVFMX	SVFYX	SMVLX	SVXCX

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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

SVFCX	+ 1.0	SVFAX
SVFFX	+ 1.0	SVFAX
SVFYX	+ 1.0	SVFAX
SMVLX	+ 1.0	SVFAX
SVFFX	+ 1.0	SVFCX
SVFYX	+ 1.0	SVFCX

High negative correlations

SVXCX	- 0.0	SVFMX
SMVLX	- 0.0	SVFMX
SVFYX	- 0.0	SVFMX
SVXCX	- 0.0	SVFSX
SMVLX	- 0.0	SVFSX
SVFYX	- 0.0	SVFSX

Risk-Adjusted Indicators

There is a big difference between Smead Mutual Fund performing well and Smead International 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 Smead International'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
SVFAX	0.64	(0.09)	(0.13)	0.01	0.84	(0.66)	1.16	(1.53)	3.61
SVFCX	0.64	(0.09)	(0.13)	0.01	0.84	(0.65)	1.16	(1.54)	3.62
SVFFX	0.64	(0.09)	(0.13)	0.02	0.84	(0.66)	1.16	(1.53)	3.62
SVFSX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
SVFMX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
SVFYX	0.64	(0.09)	(0.13)	0.01	0.84	(0.66)	1.16	(1.53)	3.61
SMVLX	0.64	(0.09)	(0.13)	0.01	0.84	(0.66)	1.16	(1.53)	3.62
SVXCX	0.80	(0.14)	0.00	(0.25)	0.00	0.00	1.60	(2.17)	4.56

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