Steward Small-mid Correlations

Mutual Funds . USA . 
Fund . Steward Small Mid Cap
SCECX Fund  USD 14.74  0.02  0.14%   
The current 90-days correlation between Steward Small Mid and Vanguard Small Cap Index is 0.94 (i.e., Almost no diversification). The correlation of Steward Small-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.

Steward Small-mid Correlation With Market

Very poor diversification

The correlation between Steward Small Mid Cap and DJI is 0.85 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Steward Small Mid Cap 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 Steward Small 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 main economic indicators.

Moving together with Steward Mutual Fund

  1.0SSMOX Steward Small MidPairCorr
  0.91SCJAX Steward Ered CallPairCorr
  0.91SCJCX Steward Ered CallPairCorr
  0.91SCJIX Steward Ered CallPairCorr
  0.94SEECX Steward Large CapPairCorr
  0.94SEEHX Steward Large CapPairCorr
  0.94SEEKX Steward Large CapPairCorr
  0.68SGIDX Steward Global EPairCorr
  0.68SGIGX Steward Global EquityPairCorr
  0.66SGIFX Steward Global EquityPairCorr
  0.69SGISX Stewart Global EquityPairCorr
  0.97SJCIX Steward FundsPairCorr
  0.97SJCAX Steward Large CapPairCorr
  0.97SJCRX Steward Large CapPairCorr
  0.96SJGIX Steward Large CapPairCorr
  0.96SJGAX Steward Large CapPairCorr
  0.98SJVAX Steward FundsPairCorr
  0.98SJVIX Steward FundsPairCorr
  1.0TRDFX Steward Small MidPairCorr
  0.99VSMAX Vanguard Small CapPairCorr
  0.99VSCIX Vanguard Small CapPairCorr
  0.99VSCPX Vanguard Small CapPairCorr
  0.99NAESX Vanguard Small CapPairCorr
  0.99FSSNX Fidelity Small CapPairCorr
  1.0DFSTX Us Small CapPairCorr
  0.99PASVX T Rowe PricePairCorr
  0.99PRVIX T Rowe PricePairCorr
  0.99TRZVX T Rowe PricePairCorr
  0.99PRSVX T Rowe PricePairCorr

Moving against Steward Mutual Fund

  0.8SMNAX Steward Equity MarketPairCorr
  0.79SMNIX Crossmark Steward EquityPairCorr
  0.6SEAKX Steward Select BondPairCorr
  0.59SEACX Steward Select BondPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Steward Mutual Fund performing well and Steward Small-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 Steward Small-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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
VSMAX  0.74  0.03  0.06  0.15  0.68 
(0.83)
 1.62 
(1.25)
 5.36 
VSCIX  0.74  0.03  0.06  0.15  0.68 
(0.83)
 1.62 
(1.24)
 5.35 
VSCPX  0.74  0.03  0.06  0.15  0.68 
(0.83)
 1.62 
(1.25)
 5.35 
NAESX  0.74  0.03  0.06  0.15  0.68 
(0.82)
 1.62 
(1.25)
 5.35 
FSSNX  0.91 (0.03) 0.03  0.11  0.90 
(0.97)
 2.11 
(1.61)
 7.62 
DFSTX  0.85 (0.02) 0.03  0.11  0.80 
(0.94)
 1.89 
(1.45)
 7.11 
PASVX  0.75 (0.01) 0.02  0.12  0.68 
(0.79)
 1.74 
(1.22)
 6.47 
PRVIX  0.75 (0.01) 0.03  0.12  0.68 
(0.80)
 1.73 
(1.23)
 6.48 
TRZVX  0.75 (0.01) 0.03  0.12  0.67 
(0.80)
 1.73 
(1.23)
 6.48 
PRSVX  0.75 (0.01) 0.03  0.12  0.68 
(0.80)
 1.73 
(1.23)
 6.48 

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