Sit Emerging Correlations

SITEX Fund  USD 8.77  0.01  0.11%   
The current 90-days correlation between Sit Emerging Markets and Guggenheim Risk Managed is -0.06 (i.e., Good 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
  0.88SRYRX Simt Real ReturnPairCorr
  0.67SSEAX Siit Screened WorldPairCorr
  0.78SSTDX Saat Servative StrategyPairCorr
  0.75SBDAX Stet California MunicipalPairCorr
  0.8SCFYX Simt E FixedPairCorr
  0.76CFVAX Catholic Values FixedPairCorr
  0.78SCOAX Siit E FixedPairCorr
  0.77CFVYX Catholic Values FixedPairCorr
  0.73SCYYX Stet California MunicipalPairCorr
  0.85SDGFX Sdit Short DurationPairCorr
  0.71SVSAX Saat Servative StrategyPairCorr
  0.78SEDIX Saat Defensive StrategyPairCorr

Moving against Sit Mutual Fund

  0.6TFCYX Tax Free ConservativePairCorr
  0.59TFCAX Tax Free ConservativePairCorr
  0.5ENIAX Siit Opportunistic IncomePairCorr
  0.49STDAX Saat Defensive StrategyPairCorr
  0.4SSCGX Simt Small CapPairCorr
  0.4STMPX Simt Tax ManagedPairCorr
  0.4STMSX Simt Tax ManagedPairCorr
  0.37SSPIX Simt Sp 500PairCorr
  0.33SSMAX Siit Small MidPairCorr
  0.45SCPAX Siit Large CapPairCorr
  0.44SDYAX Simt Dynamic AssetPairCorr
  0.42SDLAX Siit Dynamic AssetPairCorr
  0.4SUSAX Siit Ultra ShortPairCorr
  0.37SVAYX Simt Large CapPairCorr
  0.37SVOAX Simt Managed VolatilityPairCorr
  0.36SUSYX Simt Managed VolatilityPairCorr
  0.42SEMCX Simt Mid CapPairCorr
  0.4SECAX Siit Small CapPairCorr

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   
MXREXGURPX
CREYXGURPX
CREYXMXREX
PRKAXDAREX
CREYXSEIRX
SEIRXGURPX
  
High negative correlations   
FIKMXPNDIX
PRKAXPNDIX
PNDIXMXREX

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.