Spirit Of Correlations

SOIUX Fund

20.58 0.06 0.29%

The current 90-days correlation between Spirit Of America and Dominion Energy is 0.82 (i.e., Very poor 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

Modest diversification

The correlation between Spirit Of America and DJI is 0.25 (i.e., Modest 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 employment.

Moving together with Spirit Mutual Fund

0.66	D	Dominion Energy	Pair Corr
0.65	WTRG	Essential Utilities	Pair Corr
0.67	ATO	Atmos Energy	Pair Corr
0.87	AVA	Avista	Pair Corr
0.64	AWR	American States Water	Pair Corr
0.71	BIP	Brookfield Infrastructure	Pair Corr
0.79	BKH	Black Hills	Pair Corr
0.61	CMS	CMS Energy	Pair Corr
0.63	CPK	Chesapeake Utilities	Pair Corr

Moving against Spirit Mutual Fund

0.38

ENIC

Enel Chile SA

Pair Corr

Related Correlations Analysis

	D	ED	ES	FE	HE	NI	SO	SR	VGAS	DUKB
D		0.83	0.77	0.76	0.09	-0.1	0.91	-0.1	0.44	0.49	D
ED	0.83		0.95	0.95	-0.18	-0.52	0.96	-0.29	0.31	0.77	ED
ES	0.77	0.95		0.95	-0.23	-0.52	0.9	-0.25	0.21	0.68	ES
FE	0.76	0.95	0.95		-0.24	-0.48	0.91	-0.19	0.25	0.7	FE
HE	0.09	-0.18	-0.23	-0.24		0.49	-0.15	0.43	0.24	-0.07	HE
NI	-0.1	-0.52	-0.52	-0.48	0.49		-0.4	0.82	0.04	-0.71	NI
SO	0.91	0.96	0.9	0.91	-0.15	-0.4		-0.27	0.37	0.67	SO
SR	-0.1	-0.29	-0.25	-0.19	0.43	0.82	-0.27		-0.02	-0.51	SR
VGAS	0.44	0.31	0.21	0.25	0.24	0.04	0.37	-0.02		0.36	VGAS
DUKB	0.49	0.77	0.68	0.7	-0.07	-0.71	0.67	-0.51	0.36		DUKB
	D	ED	ES	FE	HE	NI	SO	SR	VGAS	DUKB

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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

SO	+ 0.96	ED
ES	+ 0.95	ED
FE	+ 0.95	ED
FE	+ 0.95	ES
SO	+ 0.91	D
SO	+ 0.91	FE

High negative correlations

DUKB	- 0.71	NI
NI	- 0.52	ES
NI	- 0.52	ED
DUKB	- 0.51	SR
NI	- 0.48	FE
SO	- 0.4	NI

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
D	1.02	(0.11)	0.00	(0.45)	0.00	0.00	1.83	(2.31)	7.68
ED	0.83	(0.21)	0.00	(0.89)	0.00	0.00	1.26	(2.05)	4.57
ES	1.02	(0.20)	0.00	1.69	0.00	0.00	1.84	(2.92)	6.02
FE	0.69	(0.15)	0.00	(1.10)	0.00	0.00	1.09	(1.54)	3.92
HE	1.80	(0.14)	0.00	(0.48)	0.00	0.00	3.49	(5.50)	11.92
NI	0.78	0.10	0.07	0.43	0.83	(0.87)	1.54	(1.91)	4.93
SO	0.86	(0.11)	0.00	(1.27)	0.00	0.00	1.71	(1.84)	4.59
SR	1.09	(0.02)	(0.01)	0.02	1.58	(1.12)	2.57	(1.86)	9.26
VGAS	2.30	0.14	0.03	(0.28)	2.82	(2.66)	5.85	(4.57)	14.66
DUKB	0.35	(0.05)	0.00	(0.36)	0.00	0.00	0.65	(0.85)	2.13

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