Energy Basic Correlations

Mutual Funds . USA . 
Fund . Energy Basic Materials
SEPIX Fund  USD 14.11  0.06  0.43%   
The current 90-days correlation between Energy Basic Materials and Black Oak Emerging is 0.47 (i.e., Very weak diversification). The correlation of Energy Basic 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.

Energy Basic Correlation With Market

Very weak diversification

The correlation between Energy Basic Materials and DJI is 0.5 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Energy Basic Materials 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 Energy Basic Materials. 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 gross domestic product.

Moving together with Energy Mutual Fund

  1.0SBMBX Energy Basic MaterialsPairCorr
  1.0SEPCX Energy Basic MaterialsPairCorr
  0.88TRNEX T Rowe PricePairCorr
  0.77VMIAX Vanguard Materials IndexPairCorr
  0.88PRNEX T Rowe PricePairCorr
  0.73GEACX Gmo TrustPairCorr
  0.73GAAHX Gmo ResourcesPairCorr
  0.73GMOWX Gmo ResourcesPairCorr
  0.92GHAIX Global Hard AssetsPairCorr
  0.8FMFEX Materials PortfolioPairCorr
  0.8FMFAX Materials PortfolioPairCorr
  0.8FMFCX Materials PortfolioPairCorr

Moving against Energy Mutual Fund

  0.34SBHIX Health BiotchnologyPairCorr
  0.47FMFFX Fs Managed FuturesPairCorr

Related Correlations Analysis

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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   
PIEFX
+ 0.97
POEIX
EMCIX
+ 0.81
POEIX
EMCIX
+ 0.73
PIEFX
PIEFX
+ 0.65
BOGSX
BXECX
+ 0.63
POEIX
POEIX
+ 0.61
BOGSX
  
High negative correlations   
ANGCX
- 0.65
BOGSX
PIEFX
- 0.22
ANGCX
ANGCX
- 0.13
POEIX
EMCIX
- 0.07
ANGCX

Risk-Adjusted Indicators

There is a big difference between Energy Mutual Fund performing well and Energy Basic 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 Energy Basic'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.

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