Spirit Of Correlations

SOIVX Fund

USD 34.97 0.26 0.75%

The current 90-days correlation between Spirit Of America and Spirit Of America is 0.21 (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

Poor diversification

The correlation between Spirit Of America and DJI is 0.78 (i.e., Poor 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 real.

Moving together with Spirit Mutual Fund

1.0	SACVX	Spirit Of America	Pair Corr
0.83	SOAEX	Spirit Of America	Pair Corr
1.0	SOAVX	Spirit Of America	Pair Corr
0.97	VTSAX	Vanguard Total Stock	Pair Corr
0.9	VFIAX	Vanguard 500 Index	Pair Corr
0.97	VTSMX	Vanguard Total Stock	Pair Corr
0.91	VITSX	Vanguard Total Stock	Pair Corr
0.97	VSMPX	Vanguard Total Stock	Pair Corr
0.97	VSTSX	Vanguard Total Stock	Pair Corr
0.9	VFINX	Vanguard 500 Index	Pair Corr
0.96	VFFSX	Vanguard 500 Index	Pair Corr
0.96	VINIX	Vanguard Institutional	Pair Corr
0.96	VIIIX	Vanguard Institutional	Pair Corr
0.73	COGVX	Cognios Large Cap	Pair Corr
0.91	SPMPX	Invesco Steelpath Mlp	Pair Corr
0.9	MLPNX	Oppenheimer Steelpath Mlp	Pair Corr
0.9	MLPMX	Oppenheimer Steelpath Mlp	Pair Corr
0.9	SPMJX	Invesco Steelpath Mlp	Pair Corr
0.77	PSDLX	Putnam Short Duration	Pair Corr
0.89	FGCKX	Fidelity Growth Pany	Pair Corr

Moving against Spirit Mutual Fund

0.43	SACTX	Spirit Of America	Pair Corr
0.4	SOITX	Spirit Of America	Pair Corr
0.35	SOAIX	Spirit Of America	Pair Corr
0.61	BTMPX	Ishares Msci Eafe	Pair Corr
0.61	MDIIX	Blackrock Intern Index	Pair Corr
0.6	BTMKX	Blackrock International	Pair Corr
0.52	FMFFX	Fs Managed Futures	Pair Corr

Related Correlations Analysis

	SACEX	SACFX	SACRX	SACTX	SAIEX	SOAEX	SOAAX	SOAMX	SOAIX
SACEX		-0.08	0.51	0.33	0.97	0.4	0.49	0.05	0.24	SACEX
SACFX	-0.08		0.36	0.54	-0.05	0.25	0.37	0.88	0.62	SACFX
SACRX	0.51	0.36		0.72	0.55	0.34	1.0	0.5	0.72	SACRX
SACTX	0.33	0.54	0.72		0.33	-0.13	0.7	0.57	0.99	SACTX
SAIEX	0.97	-0.05	0.55	0.33		0.48	0.54	0.1	0.25	SAIEX
SOAEX	0.4	0.25	0.34	-0.13	0.48		0.35	0.43	-0.08	SOAEX
SOAAX	0.49	0.37	1.0	0.7	0.54	0.35		0.51	0.71	SOAAX
SOAMX	0.05	0.88	0.5	0.57	0.1	0.43	0.51		0.65	SOAMX
SOAIX	0.24	0.62	0.72	0.99	0.25	-0.08	0.71	0.65		SOAIX
	SACEX	SACFX	SACRX	SACTX	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
SOAIX	+ 0.99	SACTX
SAIEX	+ 0.97	SACEX
SOAMX	+ 0.88	SACFX
SACTX	+ 0.72	SACRX
SOAIX	+ 0.72	SACRX

High negative correlations

SOAEX	- 0.13	SACTX
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	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
SACEX	1.04	(0.18)	(0.31)	0.00	0.00	1.51	(2.13)	15.49
SACFX	0.12	(0.03)	(0.52)	0.00	0.00	0.23	(0.23)	1.05
SACRX	0.73	(0.11)	(0.24)	0.00	0.00	1.25	(1.77)	5.41
SACTX	0.26	(0.07)	(0.89)	0.00	0.00	0.48	(0.67)	1.55
SAIEX	1.04	(0.18)	(0.21)	0.00	0.00	1.46	(2.07)	16.42
SOAEX	0.84	0.01	0.04	1.21	(0.77)	1.45	(1.94)	6.60
SOAAX	0.73	(0.10)	(0.23)	0.00	0.00	1.22	(1.84)	5.40
SOAMX	0.13	(0.02)	0.80	0.00	0.00	0.23	(0.35)	1.17
SOAIX	0.26	(0.07)	(0.82)	0.00	0.00	0.49	(0.67)	1.56

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