Spirit Of Correlations

SOAEX Fund  USD 11.55  0.13  1.14%   
The current 90-days correlation between Spirit Of America and Rbc Impact Bond is 0.2 (i.e., Modest diversification). The correlation of Spirit Of 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.

Spirit Of Correlation With Market

Very weak diversification

The correlation between Spirit Of America 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 Spirit Of America 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 Spirit Of America. 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 Spirit Mutual Fund

  0.82SACVX Spirit Of AmericaPairCorr
  0.82SOAVX Spirit Of AmericaPairCorr
  0.77SOIVX Spirit Of AmericaPairCorr
  0.94TORCX Tortoise Mlp PipelinePairCorr
  0.9MLPTX Oppenheimer Steelpath MlpPairCorr
  0.85OSPSX Oppenheimer Steelpath MlpPairCorr
  0.86MLPZX Oppenheimer Steelpath MlpPairCorr
  0.8OSPMX Oppenheimer Steelpath MlpPairCorr
  0.86MLPDX Oppenheimer Steelpath MlpPairCorr
  0.87MLPRX Oppenheimer Steelpath MlpPairCorr
  0.94GMLPX Goldman Sachs MlpPairCorr
  0.9GLPIX Goldman Sachs MlpPairCorr
  0.94GLPRX Goldman Sachs MlpPairCorr
  0.66RYCCX Nasdaq 100 2xPairCorr

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   
CFNLXPATFX
CFNLXMBSAX
CFNLXRIBAX
PATFXRIBAX
MBSAXPATFX
MBSAXRIBAX
  
High negative correlations   
ARTFXRIBAX
CFNLXICAXX
MBSAXICAXX
ARTFXICAXX
PRVBXICAXX
PATFXICAXX

Risk-Adjusted Indicators

There is a big difference between Spirit Mutual Fund performing well and Spirit Of 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 Spirit Of'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.