Snow Capital Correlations

Mutual Funds . USA . 
Fund . Snow Capital Small
SNWAX Fund  USD 61.73  0.84  1.34%   
The current 90-days correlation between Snow Capital Small and Scout Small Cap is 0.85 (i.e., Very poor diversification). The correlation of Snow Capital 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.

Snow Capital Correlation With Market

Very poor diversification

The correlation between Snow Capital Small and DJI is 0.86 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Snow Capital Small 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 Snow Capital Small. 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 nation.

Moving together with Snow Mutual Fund

  0.75SNOAX Snow Capital OpportunityPairCorr
  0.74SNOIX Snow Capital OpportunityPairCorr
  1.0SNWCX Snow Capital SmallPairCorr
  0.92VSIIX Vanguard Small CapPairCorr
  0.98VISVX Vanguard Small CapPairCorr
  0.97DFSVX Us Small CapPairCorr
  0.97DFFVX Us Targeted ValuePairCorr
  0.9UBVCX Undiscovered ManagersPairCorr
  0.9UBVAX Undiscovered ManagersPairCorr
  0.96UBVSX Undiscovered ManagersPairCorr
  0.98AVFIX American Beacon SmallPairCorr
  0.91WWNPX Kinetics ParadigmPairCorr
  0.91KMKCX Kinetics Market OppoPairCorr
  0.91LSHCX Horizon Spin OffPairCorr
  0.91KNPCX Kinetics ParadigmPairCorr
  0.65LETRX Voya Russia FundPairCorr
  0.92LSHUX Horizon Spin OffPairCorr
  0.92KNPAX Kinetics ParadigmPairCorr
  0.91KMKAX Kinetics Market Oppo Potential GrowthPairCorr
  0.91KNPYX Kinetics ParadigmPairCorr
  0.72FGB First Trust SpecialtyPairCorr
  0.93TEGYX Mid Cap GrowthPairCorr
  0.95LAWAX Ladenburg AggressivePairCorr
  0.87GLACX Power Global TacticalPairCorr
  0.83TGHYX Tcw High YieldPairCorr
  0.88CNSAX Invesco Vertible SecPairCorr
  0.94FMIUX Common StockPairCorr
  0.82VFINX Vanguard 500 IndexPairCorr
  0.9NICSX Nicholas FundPairCorr
  0.62UIGIX Growth IncomePairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Snow Mutual Fund performing well and Snow Capital 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 Snow Capital'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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