Sit Developing Correlations

SDMGX Fund

USD 22.84 0.23 1.02%

The correlation of Sit Developing 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 Developing Correlation With Market

Very weak diversification

The correlation between Sit Developing Markets and DJI is 0.51 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sit Developing Markets 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 Sit Developing Markets. 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 rate.

Moving together with Sit Mutual Fund

0.94	GDGIX	Sit Global Dividend	Pair Corr
0.93	GDGSX	Sit Global Dividend	Pair Corr
0.93	SDVSX	Sit Dividend Growth	Pair Corr
0.93	SDVGX	Sit Dividend Growth	Pair Corr
0.93	SESGX	Sit Esg Growth	Pair Corr
0.94	SIBAX	Sit Balanced	Pair Corr
0.91	IESGX	Sit Esg Growth	Pair Corr
0.92	SMTFX	Sit Minnesota Tax	Pair Corr
0.95	SNIGX	Sit Large Cap	Pair Corr
0.71	SNGRX	Sit International Growth	Pair Corr
0.71	SNGVX	Sit U S	Pair Corr
0.76	SNGYX	Sit Government Securities	Pair Corr
0.92	SNTIX	Sit Tax Free	Pair Corr
0.91	SNTYX	Sit Tax Free	Pair Corr
0.93	VEMAX	Vanguard Emerging Markets	Pair Corr
0.96	VEIEX	Vanguard Emerging Markets	Pair Corr
0.93	VEMIX	Vanguard Emerging Markets	Pair Corr
0.96	VEMRX	Vanguard Emerging Markets	Pair Corr
0.94	FWWNX	American Funds New	Pair Corr
0.99	FNFWX	American Funds New	Pair Corr
0.94	NEWFX	New World Fund	Pair Corr
0.99	NWFFX	New World Fund	Pair Corr
0.99	NEWCX	New World Fund	Pair Corr
0.98	ODVYX	Oppenheimer Developing	Pair Corr
0.88	SMPSX	Semiconductor Ultrasector	Pair Corr
0.93	SMPIX	Semiconductor Ultrasector	Pair Corr
0.77	RSNRX	Victory Global Natural	Pair Corr
0.77	RSNYX	Victory Global Natural	Pair Corr
0.77	RGNCX	Victory Global Natural	Pair Corr

Moving against Sit Mutual Fund

0.57	SPMPX	Invesco Steelpath Mlp	Pair Corr
0.53	MLPLX	Oppenheimer Steelpath Mlp	Pair Corr
0.53	SPMJX	Invesco Steelpath Mlp	Pair Corr
0.48	OSPPX	Oppenheimer Steelpath Mlp	Pair Corr
0.48	MLPNX	Oppenheimer Steelpath Mlp	Pair Corr

Related Correlations Analysis

	AEYXX	JRSXX	QCMMIX	JHMXX	MODXX
AEYXX		0.0	0.0	0.0	0.0	AEYXX
JRSXX	0.0		0.0	0.0	0.0	JRSXX
QCMMIX	0.0	0.0		0.0	0.0	QCMMIX
JHMXX	0.0	0.0	0.0		0.0	JHMXX
MODXX	0.0	0.0	0.0	0.0		MODXX
	AEYXX	JRSXX	QCMMIX	JHMXX	MODXX

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

JRSXX	+ 0.0	AEYXX
QCMMIX	+ 0.0	AEYXX
JHMXX	+ 0.0	AEYXX
MODXX	+ 0.0	AEYXX
QCMMIX	+ 0.0	JRSXX
JHMXX	+ 0.0	JRSXX

High negative correlations

MODXX	- 0.0	JHMXX
MODXX	- 0.0	QCMMIX
JHMXX	- 0.0	QCMMIX
MODXX	- 0.0	JRSXX
JHMXX	- 0.0	JRSXX
QCMMIX	- 0.0	JRSXX

Risk-Adjusted Indicators

There is a big difference between Sit Mutual Fund performing well and Sit Developing 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 Developing'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	Potential Upside	Maximum Drawdown
AEYXX	0.00	0.00	0.00	0.00	0.00
JRSXX	0.00	0.00	0.00	0.00	0.00
QCMMIX	0.02	0.01	1.81	0.03	0.03
JHMXX	0.00	0.00	0.00	0.00	0.00
MODXX	0.00	0.00	0.00	0.00	0.00

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