Spirit Of Correlations

SOITX Fund

USD 10.19 0.03 0.29%

The current 90-days correlation between Spirit Of America and Spirit Of America is 0.01 (i.e., Significant 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

Average diversification

The correlation between Spirit Of America and DJI is 0.16 (i.e., Average 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 estimate.

Moving together with Spirit Mutual Fund

0.73	SACRX	Spirit Of America	Pair Corr
1.0	SACTX	Spirit Of America	Pair Corr
0.72	SOAAX	Spirit Of America	Pair Corr
0.99	SOAIX	Spirit Of America	Pair Corr
0.64	SOIAX	Spirit Of America	Pair Corr
0.91	VWETX	Vanguard Long Term	Pair Corr
0.91	VWESX	Vanguard Long Term	Pair Corr
0.91	VBLAX	Vanguard Long Term	Pair Corr
0.91	VBLLX	Vanguard Long Term	Pair Corr
0.91	VBLIX	Vanguard Long Term	Pair Corr
0.91	SLDAX	Siit Long Duration	Pair Corr
0.92	VLTCX	Vanguard Long Term	Pair Corr
0.92	VLCIX	Vanguard Long Term	Pair Corr
0.88	PLRIX	Pimco Long Term	Pair Corr
0.9	PLRPX	Pimco Long Duration	Pair Corr
0.76	XDSMX	Dreyfus Strategic	Pair Corr
0.85	XNXJX	Nuveen New Jersey	Pair Corr
0.79	NXJ	Nuveen New Jersey	Pair Corr
0.9	XNBHX	Neuberger Berman Int	Pair Corr

Moving against Spirit Mutual Fund

0.4	SOAVX	Spirit Of America	Pair Corr
0.4	SOIVX	Spirit Of America	Pair Corr
0.39	SACVX	Spirit Of America	Pair Corr
0.68	XNKGX	Nuveen Georgia Quality	Pair Corr
0.6	FDGRX	Fidelity Growth Pany	Pair Corr
0.54	FBSOX	It Services Portfolio	Pair Corr
0.54	MBCLX	Massmutual Select Blue	Pair Corr
0.53	XPPRX	Voya Prime Rate	Pair Corr
0.53	MWCBX	Metropolitan West Porate	Pair Corr
0.44	VFINX	Vanguard 500 Index	Pair Corr
0.34	CGRGX	American Funds Growth	Pair Corr

Related Correlations Analysis

	SACEX	SACFX	SACRX	SACVX	SAIEX	SOAEX	SOAAX	SOAMX	SOAIX
SACEX		-0.08	0.51	0.04	0.97	0.4	0.49	0.05	0.24	SACEX
SACFX	-0.08		0.36	0.04	-0.05	0.25	0.37	0.88	0.62	SACFX
SACRX	0.51	0.36		0.1	0.55	0.34	1.0	0.5	0.72	SACRX
SACVX	0.04	0.04	0.1		0.1	0.83	0.13	0.18	-0.34	SACVX
SAIEX	0.97	-0.05	0.55	0.1		0.48	0.54	0.1	0.25	SAIEX
SOAEX	0.4	0.25	0.34	0.83	0.48		0.35	0.43	-0.08	SOAEX
SOAAX	0.49	0.37	1.0	0.13	0.54	0.35		0.51	0.71	SOAAX
SOAMX	0.05	0.88	0.5	0.18	0.1	0.43	0.51		0.65	SOAMX
SOAIX	0.24	0.62	0.72	-0.34	0.25	-0.08	0.71	0.65		SOAIX
	SACEX	SACFX	SACRX	SACVX	SAIEX	SOAEX	SOAAX	SOAMX	SOAIX

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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

SOAAX	+ 1.0	SACRX
SAIEX	+ 0.97	SACEX
SOAMX	+ 0.88	SACFX
SOAEX	+ 0.83	SACVX
SOAIX	+ 0.72	SACRX
SOAIX	+ 0.71	SOAAX

High negative correlations

SOAIX	- 0.34	SACVX
SOAIX	- 0.08	SOAEX
SACFX	- 0.08	SACEX
SAIEX	- 0.05	SACFX

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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
SACEX	1.04	(0.18)	0.00	(0.31)	0.00	0.00	1.51	(2.13)	15.49
SACFX	0.12	(0.03)	0.00	(0.52)	0.00	0.00	0.23	(0.23)	1.05
SACRX	0.73	(0.11)	0.00	(0.24)	0.00	0.00	1.25	(1.77)	5.41
SACVX	0.56	0.06	0.06	0.10	0.71	(0.59)	1.02	(1.31)	5.39
SAIEX	1.04	(0.18)	0.00	(0.21)	0.00	0.00	1.46	(2.07)	16.42
SOAEX	0.84	0.01	0.00	0.04	1.21	(0.77)	1.45	(1.94)	6.60
SOAAX	0.73	(0.10)	0.00	(0.23)	0.00	0.00	1.22	(1.84)	5.40
SOAMX	0.13	(0.02)	0.00	0.80	0.00	0.00	0.23	(0.35)	1.17
SOAIX	0.26	(0.07)	0.00	(0.82)	0.00	0.00	0.49	(0.67)	1.56

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