Sit Emerging Correlations

SITEX Fund  USD 8.81  0.01  0.11%   
The current 90-days correlation between Sit Emerging Markets and Dreyfusstandish Global Fixed is 0.5 (i.e., Very weak 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

Significant diversification

The correlation between Sit Emerging Markets and DJI is 0.03 (i.e., Significant 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

  0.92SAAAX Simt Multi AssetPairCorr
  0.87SRYRX Simt Real ReturnPairCorr
  0.67SSEAX Siit Screened WorldPairCorr
  0.73SSTDX Saat Servative StrategyPairCorr
  0.73SBDAX Stet California MunicipalPairCorr
  0.81SCFYX Simt E FixedPairCorr
  0.71SCLAX Simt Multi AssetPairCorr
  0.8CFVAX Catholic Values FixedPairCorr
  0.8SCOAX Siit E FixedPairCorr
  0.8CFVYX Catholic Values FixedPairCorr
  0.81SCXIX Sei Insti MgdPairCorr
  0.73SCYYX Stet California MunicipalPairCorr
  0.83SDGFX Sdit Short DurationPairCorr
  0.66SVSAX Saat Servative StrategyPairCorr

Moving against Sit Mutual Fund

  0.61TFCYX Tax Free ConservativePairCorr
  0.6TFCAX Tax Free ConservativePairCorr
  0.56ENIAX Siit Opportunistic IncomePairCorr
  0.55STDAX Saat Defensive StrategyPairCorr
  0.43SSCGX Simt Small CapPairCorr
  0.43STMPX Simt Tax ManagedPairCorr
  0.43STMSX Simt Tax ManagedPairCorr
  0.42SSPIX Simt Sp 500PairCorr
  0.37SSMAX Siit Small MidPairCorr
  0.49SDYAX Simt Dynamic AssetPairCorr
  0.49SDYYX Simt Dynamic AssetPairCorr
  0.47SCPAX Siit Large CapPairCorr
  0.47SDLAX Siit Dynamic AssetPairCorr
  0.46SUSAX Siit Ultra ShortPairCorr
  0.45SECPX Sdit Ultra ShortPairCorr
  0.45SECYX Sdit Ultra ShortPairCorr
  0.41SVAYX Simt Large CapPairCorr
  0.39SUSYX Simt Managed VolatilityPairCorr
  0.38SVOAX Simt Managed VolatilityPairCorr
  0.35SVYAX 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   
WRLDXSMYIX
WRLDXCNGLX
AEEIXDSDYX
CNGLXSMYIX
APDPXSMYIX
CNGLXGWOAX
  
High negative correlations   
APDPXAEEIX
APDPXDSDYX
SMYIXAEEIX
SMYIXDSDYX
WRLDXAEEIX
WRLDXDSDYX

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.