Steward Covered Correlations

SCJCX Fund

USD 7.73 0.03 0.39%

The current 90-days correlation between Steward Ered Call and Century Small Cap is 0.41 (i.e., Very weak diversification). The correlation of Steward Covered 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.

Steward Covered Correlation With Market

Very good diversification

The correlation between Steward Ered Call and DJI is -0.33 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Steward Ered Call 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 Steward Ered Call. 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 main economic indicators.

Moving together with STEWARD Mutual Fund

1.0	SCJAX	Steward Ered Call	Pair Corr
0.95	SCJIX	Steward Ered Call	Pair Corr
0.99	SEECX	Steward Large Cap	Pair Corr
0.96	SEEHX	Steward Large Cap	Pair Corr
0.99	SGIGX	Steward Global Equity	Pair Corr
0.99	SGIFX	Steward Global Equity	Pair Corr
0.99	SGISX	Stewart Global Equity	Pair Corr
0.99	SJCIX	Steward Funds	Pair Corr
0.99	SJCRX	Steward Large Cap	Pair Corr
0.99	SJGIX	Steward Large Cap	Pair Corr
0.99	SJVAX	Steward Funds	Pair Corr
0.95	SJVIX	Steward Funds	Pair Corr
0.96	SNTCX	Steward International	Pair Corr
0.93	SNTFX	Steward International	Pair Corr
0.93	SNTKX	Steward International	Pair Corr
0.93	JEPAX	Jpmorgan Research Equity	Pair Corr
0.92	JEPCX	Jpmorgan Research Equity	Pair Corr
0.93	JEPIX	Jpmorgan Equity Premium	Pair Corr
0.63	BTMPX	Ishares Msci Eafe	Pair Corr
0.69	MDIIX	Blackrock Intern Index	Pair Corr

Moving against STEWARD Mutual Fund

0.48

SMNAX

Steward Equity Market

Pair Corr

Related Correlations Analysis

	CSMVX	VHGEX	AUERX	TOCQX	FBMPX	SMPIX
CSMVX		0.65	0.59	0.96	0.97	0.74	CSMVX
VHGEX	0.65		0.97	0.48	0.55	0.97	VHGEX
AUERX	0.59	0.97		0.44	0.53	0.96	AUERX
TOCQX	0.96	0.48	0.44		0.98	0.62	TOCQX
FBMPX	0.97	0.55	0.53	0.98		0.69	FBMPX
SMPIX	0.74	0.97	0.96	0.62	0.69		SMPIX
	CSMVX	VHGEX	AUERX	TOCQX	FBMPX	SMPIX

Click cells to compare fundamentals

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Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between STEWARD Mutual Fund performing well and Steward Covered 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 Steward Covered'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
CSMVX	0.88	0.33	0.19	(2.21)	0.67	(1.02)	2.19	(1.55)	5.96
VHGEX	0.71	0.14	0.11	0.28	0.81	(0.82)	2.01	(1.61)	5.07
AUERX	0.67	0.19	0.14	0.49	0.64	(0.77)	1.54	(1.25)	3.91
TOCQX	0.64	0.31	0.24	(2.41)	0.18	(0.78)	2.19	(0.75)	4.24
FBMPX	0.89	0.45	0.40	(4.76)	0.00	(1.16)	2.47	(0.89)	5.19
SMPIX	2.40	0.60	0.22	0.40	2.70	(2.73)	5.81	(3.71)	12.76

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