Sit Mid Correlations

NBNGX Fund

USD 25.69 0.04 0.16%

The current 90-days correlation between Sit Mid Cap and Sit Small Cap is 0.86 (i.e., Very poor diversification). The correlation of Sit Mid 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 Mid Correlation With Market

Very poor diversification

The correlation between Sit Mid Cap and DJI is 0.81 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sit Mid Cap and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Sit Mid Cap. 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

0.98	SSCDX	Sit Small Cap	Pair Corr
0.79	GDGIX	Sit Global Dividend	Pair Corr
0.79	GDGSX	Sit Global Dividend	Pair Corr
0.98	SSMGX	Sit Small Cap	Pair Corr
0.98	SDFSX	Sit Small Cap	Pair Corr
0.98	SDVSX	Sit Dividend Growth	Pair Corr
0.98	SDVGX	Sit Dividend Growth	Pair Corr
0.94	SESGX	Sit Esg Growth	Pair Corr
0.97	SIBAX	Sit Balanced	Pair Corr
0.94	IESGX	Sit Esg Growth	Pair Corr
0.97	SNIGX	Sit Large Cap	Pair Corr
0.95	PAMCX	T Rowe Price	Pair Corr
0.9	RRMGX	T Rowe Price	Pair Corr
0.91	TRQZX	T Rowe Price	Pair Corr
0.9	RPMGX	T Rowe Price	Pair Corr
0.92	PRJIX	T Rowe Price	Pair Corr
0.94	PRNHX	T Rowe Price	Pair Corr
0.92	TRUZX	T Rowe Price	Pair Corr
0.96	PCBIX	Midcap Fund Institutional	Pair Corr
0.93	PEMGX	Midcap Fund Class	Pair Corr
0.96	PMBCX	Midcap Fund Class	Pair Corr
0.78	SMPIX	Semiconductor Ultrasector	Pair Corr
0.8	SMPSX	Semiconductor Ultrasector	Pair Corr
0.89	RSNYX	Victory Global Natural	Pair Corr
0.89	RGNCX	Victory Global Natural	Pair Corr
0.9	RSNRX	Victory Global Natural	Pair Corr
0.9	LSHUX	Horizon Spin Off Potential Growth	Pair Corr
0.9	LSHAX	Horizon Spin Off Potential Growth	Pair Corr
0.9	LSHEX	Kinetics Spin Off Potential Growth	Pair Corr
0.97	RMQAX	Monthly Rebalance Steady Growth	Pair Corr

Moving against Sit Mutual Fund

0.71	SNGVX	Sit U S	Pair Corr
0.7	SNGYX	Sit Government Securities	Pair Corr
0.58	SQIYX	Sit Mutual Funds	Pair Corr
0.58	SQIFX	Sit Quality Income	Pair Corr

Related Correlations Analysis

	SSCDX	GDGIX	GDGSX	SSMGX	SDFSX	SDMGX	SDVSX	SDVGX	SESGX	NBNGX
SSCDX		0.78	0.78	0.98	1.0	0.53	0.97	0.97	0.92	0.98	SSCDX
GDGIX	0.78		1.0	0.84	0.79	0.72	0.87	0.87	0.92	0.79	GDGIX
GDGSX	0.78	1.0		0.84	0.78	0.72	0.86	0.86	0.91	0.79	GDGSX
SSMGX	0.98	0.84	0.84		0.98	0.62	0.96	0.96	0.93	0.98	SSMGX
SDFSX	1.0	0.79	0.78	0.98		0.53	0.97	0.97	0.92	0.98	SDFSX
SDMGX	0.53	0.72	0.72	0.62	0.53		0.57	0.57	0.64	0.56	SDMGX
SDVSX	0.97	0.87	0.86	0.96	0.97	0.57		1.0	0.98	0.98	SDVSX
SDVGX	0.97	0.87	0.86	0.96	0.97	0.57	1.0		0.98	0.98	SDVGX
SESGX	0.92	0.92	0.91	0.93	0.92	0.64	0.98	0.98		0.94	SESGX
NBNGX	0.98	0.79	0.79	0.98	0.98	0.56	0.98	0.98	0.94		NBNGX
	SSCDX	GDGIX	GDGSX	SSMGX	SDFSX	SDMGX	SDVSX	SDVGX	SESGX	NBNGX

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Risk-Adjusted Indicators

There is a big difference between Sit Mutual Fund performing well and Sit Mid 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 Mid'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
SSCDX	0.76	(0.04)	(0.01)	0.07	0.99	(0.74)	1.80	(1.36)	6.07
GDGIX	0.54	(0.05)	(0.10)	0.03	0.75	(0.53)	1.02	(1.48)	3.15
GDGSX	0.53	(0.05)	(0.10)	0.03	0.75	(0.52)	1.02	(1.52)	3.19
SSMGX	0.80	(0.03)	(0.01)	0.08	1.10	(0.81)	1.63	(1.78)	5.25
SDFSX	0.76	(0.04)	(0.01)	0.07	0.99	(0.74)	1.80	(1.36)	6.07
SDMGX	0.81	0.01	(0.03)	0.13	1.02	(0.86)	1.86	(2.15)	5.57
SDVSX	0.50	(0.02)	(0.07)	0.07	0.57	(0.55)	0.97	(1.13)	3.27
SDVGX	0.50	(0.02)	(0.06)	0.08	0.57	(0.55)	0.97	(1.12)	3.25
SESGX	0.55	(0.02)	(0.06)	0.07	0.75	(0.58)	1.15	(1.43)	3.85
NBNGX	0.70	0.02	0.02	0.13	0.96	(0.73)	1.53	(1.76)	4.44

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