Sit Mid Correlations

Mutual Funds . USA . 
Fund . Sit Mid Cap
NBNGX Fund  USD 25.07  0.02  0.08%   
The current 90-days correlation between Sit Mid Cap and Virtus Convertible is 0.86 (i.e., Very poor diversification). The correlation of Sit Mid 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 Mid Correlation With Market

Very poor diversification

The correlation between Sit Mid Cap and DJI is 0.84 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sit Mid Cap and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Sit Mid Cap. 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 price.

Moving together with Sit Mutual Fund

  0.98SSCDX Sit Small CapPairCorr
  0.98GDGIX Sit Global DividendPairCorr
  0.98GDGSX Sit Global DividendPairCorr
  0.99SSMGX Sit Small CapPairCorr
  0.98SDFSX Sit Small CapPairCorr
  0.98SDMGX Sit Developing MarketsPairCorr
  0.97SDVSX Sit Dividend GrowthPairCorr
  0.97SDVGX Sit Dividend GrowthPairCorr
  0.98SESGX Sit Esg GrowthPairCorr
  0.97SIBAX Sit BalancedPairCorr
  0.98IESGX Sit Esg GrowthPairCorr
  0.72SMTFX Sit Minnesota TaxPairCorr
  0.98SNIGX Sit Large CapPairCorr
  0.97SNGRX Sit International GrowthPairCorr
  0.71SQIYX Sit Mutual FundsPairCorr
  0.69SQIFX Sit Quality IncomePairCorr
  0.99PAMCX T Rowe PricePairCorr
  0.99RRMGX T Rowe PricePairCorr
  0.99TRQZX T Rowe PricePairCorr
  0.99RPMGX T Rowe PricePairCorr
  0.98PRJIX T Rowe PricePairCorr
  0.98PRNHX T Rowe PricePairCorr
  0.98TRUZX T Rowe PricePairCorr
  0.98PCBIX Midcap Fund InstitutionalPairCorr
  0.98PEMGX Midcap Fund ClassPairCorr
  0.97PMBCX Midcap Fund ClassPairCorr
  0.78LIIAX Columbia Porate IncomePairCorr
  0.78SRINX Columbia Porate IncomePairCorr
  0.91WRHIX Ivy High IncomePairCorr
  0.91WHIAX Ivy High IncomePairCorr
  0.91IHIFX Ivy High IncomePairCorr
  0.92IVHIX Ivy High IncomePairCorr
  0.97PLRTX Principal Lifetime HybridPairCorr
  0.97THCVX Tiaa Cref LargePairCorr
  0.85WSICX Wells Fargo StrategicPairCorr

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 Mid 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 Mid'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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