Sound Shore Correlations

SSHFX Fund

USD 50.12 0.07 0.14%

The current 90-days correlation between Sound Shore Fund and Rationalpier 88 Convertible is 0.76 (i.e., Poor diversification). The correlation of Sound Shore 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.

Sound Shore Correlation With Market

Very poor diversification

The correlation between Sound Shore Fund and DJI is 0.87 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sound Shore Fund 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 Sound Shore Fund. 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 census.

Moving together with Sound Mutual Fund

1.0	SSHVX	Sound Shore Fund	Pair Corr
0.96	VVIAX	Vanguard Value Index	Pair Corr
0.97	DOXGX	Dodge Cox Stock	Pair Corr
0.86	AFMFX	American Mutual	Pair Corr
0.86	FFMMX	American Funds American	Pair Corr
0.86	FFFMX	American Funds American	Pair Corr
0.86	AMRMX	American Mutual	Pair Corr
0.86	AMFFX	American Mutual	Pair Corr
0.85	AMFCX	American Mutual	Pair Corr
0.97	DODGX	Dodge Stock Fund	Pair Corr
0.96	VIVAX	Vanguard Value Index	Pair Corr
0.61	PFN	Pimco Income Strategy	Pair Corr
0.77	XNKGX	Nuveen Georgia Quality	Pair Corr
0.86	XPPRX	Voya Prime Rate	Pair Corr
0.79	PCF	Putnam High Income	Pair Corr
0.97	AMGOX	Alger Mid Cap	Pair Corr
0.95	VIIIX	Vanguard Institutional	Pair Corr
0.93	MLMAX	Global E Portfolio	Pair Corr
0.97	DFMAX	Davidson Multi Cap	Pair Corr
0.95	ILESX	Fisher Investments	Pair Corr
0.67	GQLOX	Gmo Quality Fund	Pair Corr
0.86	VTWAX	Vanguard Total World	Pair Corr
0.95	AMEIX	Equity Growth	Pair Corr
0.71	PGAIX	Pimco Global Multi	Pair Corr
0.98	AMGIX	Income Growth	Pair Corr
0.95	ARIDX	Amg River Road	Pair Corr
0.89	GAB	Gabelli Equity Trust	Pair Corr
0.85	GAPIX	Goldman Sachs Equity	Pair Corr
0.92	AMVYX	Mid Cap Value	Pair Corr
0.95	VFINX	Vanguard 500 Index	Pair Corr
0.95	VFIAX	Vanguard 500 Index	Pair Corr

Moving against Sound Mutual Fund

0.6	XNXJX	Nuveen New Jersey	Pair Corr
0.55	XNBHX	Neuberger Berman Int	Pair Corr
0.47	NXJ	Nuveen New Jersey	Pair Corr

Related Correlations Analysis

	PBXIX	ARBOX	GCV	AVK	PRCCX	FSAWX
PBXIX		0.93	0.03	0.46	0.99	0.92	PBXIX
ARBOX	0.93		-0.09	0.24	0.94	0.96	ARBOX
GCV	0.03	-0.09		0.57	0.0	0.06	GCV
AVK	0.46	0.24	0.57		0.45	0.41	AVK
PRCCX	0.99	0.94	0.0	0.45		0.94	PRCCX
FSAWX	0.92	0.96	0.06	0.41	0.94		FSAWX
	PBXIX	ARBOX	GCV	AVK	PRCCX	FSAWX

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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

PRCCX	+ 0.99	PBXIX
FSAWX	+ 0.96	ARBOX
PRCCX	+ 0.94	ARBOX
FSAWX	+ 0.94	PRCCX
ARBOX	+ 0.93	PBXIX
FSAWX	+ 0.92	PBXIX

High negative correlations

GCV	- 0.09	ARBOX
PRCCX	- 0.0	GCV

Risk-Adjusted Indicators

There is a big difference between Sound Mutual Fund performing well and Sound Shore 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 Sound Shore'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
PBXIX	0.31	0.04	(0.07)	0.21	0.00	(0.41)	0.87	(0.55)	1.94
ARBOX	0.05	0.02	0.00	3.66	0.00	0.00	0.09	0.00	0.26
GCV	0.89	0.07	(0.01)	0.37	1.24	(0.91)	1.87	(1.80)	7.45
AVK	0.66	0.03	(0.06)	0.22	0.81	(0.77)	1.43	(1.03)	5.25
PRCCX	0.39	0.06	0.01	0.24	0.21	(0.46)	0.98	(0.70)	1.94
FSAWX	0.08	0.03	(0.72)	2.73	0.00	(0.13)	0.19	(0.09)	0.46

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