Sit Emerging Correlations

SITEX Fund  USD 8.80  0.03  0.34%   
The current 90-days correlation between Sit Emerging Markets and Qs Large Cap is 0.18 (i.e., Average diversification). The correlation of Sit Emerging 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 Emerging Correlation With Market

Average diversification

The correlation between Sit Emerging Markets and DJI is 0.12 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sit Emerging Markets 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 Sit Emerging Markets. 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 income.

Moving together with Sit Mutual Fund

  0.88SAAAX Simt Multi AssetPairCorr
  0.82SRYRX Simt Real ReturnPairCorr
  0.67SSEAX Siit Screened WorldPairCorr
  0.67SSTDX Saat Servative StrategyPairCorr
  0.71SBDAX Stet California MunicipalPairCorr
  0.8SCFYX Simt E FixedPairCorr
  0.66SCLAX Simt Multi AssetPairCorr
  0.73CFVAX Catholic Values FixedPairCorr
  0.74SCOAX Siit E FixedPairCorr
  0.73CFVYX Catholic Values FixedPairCorr
  0.74SCXIX Sei Insti MgdPairCorr
  0.74SCYYX Stet California MunicipalPairCorr
  0.83SDGFX Sdit Short DurationPairCorr
  0.68SVSAX Saat Servative StrategyPairCorr

Moving against Sit Mutual Fund

  0.6TFCYX Tax Free ConservativePairCorr
  0.59TFCAX Tax Free ConservativePairCorr
  0.55ENIAX Siit Opportunistic IncomePairCorr
  0.53STDAX Saat Defensive StrategyPairCorr
  0.43SSCGX Simt Small CapPairCorr
  0.43STMSX Simt Tax ManagedPairCorr
  0.42STMPX Simt Tax ManagedPairCorr
  0.41SSPIX Simt Sp 500PairCorr
  0.37SSMAX Siit Small MidPairCorr
  0.47SDYAX Simt Dynamic AssetPairCorr
  0.47SDYYX Simt Dynamic AssetPairCorr
  0.46SCPAX Siit Large CapPairCorr
  0.45SDLAX Siit Dynamic AssetPairCorr
  0.45SECPX Sdit Ultra ShortPairCorr
  0.44SUSAX Siit Ultra ShortPairCorr
  0.43SECYX Sdit Ultra ShortPairCorr
  0.39SVAYX Simt Large CapPairCorr
  0.38SUSYX Simt Managed VolatilityPairCorr
  0.37SVOAX Simt Managed VolatilityPairCorr
  0.34SVYAX Siit Managed VolatilityPairCorr

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   
FFCGXWRLDX
WRLDXLMUSX
FFCGXLMUSX
LTFXXLMUSX
FALCXLMUSX
WRLDXLTFXX
  
High negative correlations   
CPUCXLMUSX
FFCGXCPUCX
CPUCXWRLDX
FFCGXFALCX
FALCXCPUCX
FALCXWRLDX

Risk-Adjusted Indicators

There is a big difference between Sit Mutual Fund performing well and Sit Emerging 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 Emerging'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.