Sit Global Correlations

Mutual Funds . USA . 
Fund . Sit Global Dividend
GDGSX Fund  USD 30.08  0.01  0.03%   
The current 90-days correlation between Sit Global Dividend and Gmo Quality Fund is 0.93 (i.e., Almost no diversification). The correlation of Sit Global 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.

Sit Global Correlation With Market

Very poor diversification

The correlation between Sit Global Dividend and DJI is 0.89 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sit Global Dividend and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Sit Global Dividend. 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 state.

Moving together with Sit Mutual Fund

  0.99SSCDX Sit Small CapPairCorr
  1.0GDGIX Sit Global DividendPairCorr
  0.98SSMGX Sit Small CapPairCorr
  0.99SDFSX Sit Small CapPairCorr
  0.99SDMGX Sit Developing MarketsPairCorr
  0.99SDVSX Sit Dividend GrowthPairCorr
  0.99SDVGX Sit Dividend GrowthPairCorr
  1.0SESGX Sit Esg GrowthPairCorr
  0.98NBNGX Sit Mid CapPairCorr
  0.99SIBAX Sit BalancedPairCorr
  1.0IESGX Sit Esg GrowthPairCorr
  1.0SNIGX Sit Large CapPairCorr
  0.98SNGRX Sit International GrowthPairCorr
  0.61SNGYX Sit Government SecuritiesPairCorr
  0.81SQIYX Sit Mutual FundsPairCorr
  0.79SQIFX Sit Quality IncomePairCorr
  0.99FCWGX American Funds CapitalPairCorr
  0.99FWCGX American Funds CapitalPairCorr
  1.0CWGIX Capital World GrowthPairCorr
  0.99CWGFX Capital World GrowthPairCorr
  0.99CWGCX Capital World GrowthPairCorr
  0.99RWIFX Capital World GrowthPairCorr
  0.99CWICX Capital World GrowthPairCorr
  0.99RWIAX Capital World GrowthPairCorr
  0.99CWIAX Capital World GrowthPairCorr
  0.99WGIFX Capital World GrowthPairCorr
  0.95PDI Pimco Dynamic IncomePairCorr
  0.93FTCAX Templeton Strained BondPairCorr
  1.0PLMTX Principal Lifetime HybridPairCorr

Moving against Sit Mutual Fund

  0.98USPSX Profunds UltrashortPairCorr
  0.98USPIX Profunds UltrashortPairCorr
  0.97UIPIX Ultrashort Mid CapPairCorr
  0.81TCTGX Transamerica CleartrackPairCorr
  0.81TDKTX Cleartrack 2015 ClassPairCorr
  0.81TCTJX Transamerica CleartrackPairCorr
  0.78TCSUX Cleartrack 2020 ClassPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Sit Mutual Fund performing well and Sit Global 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 Sit Global'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.

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