Energy Basic Correlations

Mutual Funds . USA . 
Fund . Energy Basic Materials
SEPCX Fund  USD 9.73  0.02  0.21%   
The current 90-days correlation between Energy Basic Materials and Alger Health Sciences is -0.34 (i.e., Very good diversification). The correlation of Energy Basic 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.

Energy Basic Correlation With Market

Poor diversification

The correlation between Energy Basic Materials and DJI is 0.64 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Energy Basic Materials 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 Energy Basic Materials. 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 Energy Mutual Fund

  0.91SABAX Salient Alternative BetaPairCorr
  0.68SABIX Aggressive BalancedPairCorr
  0.69SABCX Salient Alternative BetaPairCorr
  0.68SAMAX Moderately AggressivePairCorr
  0.91SAMIX Moderately AggressivePairCorr
  0.64SSCCX Small CapitalizationPairCorr
  0.65SSCPX Small CapitalizationPairCorr
  0.67SSCYX Small CapitalizationPairCorr
  0.67SBCCX Moderately ConservativePairCorr
  0.71SBHIX Health BiotchnologyPairCorr
  0.68SBMCX Moderate BalancedPairCorr
  0.9SBMIX Moderate BalancedPairCorr
  0.91STPAX Technology CommunicationsPairCorr
  0.77STPCX Technology CommunicationsPairCorr
  0.69STPIX Technology CommunicationsPairCorr
  0.76SCAAX Conservative BalancedPairCorr
  0.76SUMCX Conservative BalancedPairCorr
  0.9SEPIX Energy Basic MaterialsPairCorr
  0.7SFPCX Financial ServicesPairCorr
  0.68SFPAX Financial ServicesPairCorr
  0.88SFPIX Financial ServicesPairCorr
  0.7SIECX International EquityPairCorr
  0.89SIEPX International EquityPairCorr
  0.9SLCVX Large Cap ValuePairCorr
  0.89SLGYX Large CapitalizationPairCorr
  0.62SLVCX Large Cap ValuePairCorr
  0.65SLVYX Large Cap ValuePairCorr
  0.7SMBAX Municipal Bond PortfolioPairCorr
  0.76SMACX Moderately ConservativePairCorr
  0.86SMBPX Municipal Bond PortfolioPairCorr
  0.9SMICX Moderately ConservativePairCorr
  0.89SMIPX Mid CapitalizationPairCorr
  0.68SMPAX Moderate BalancedPairCorr
  0.67LUNAX Conservative BalancedPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Energy Mutual Fund performing well and Energy Basic 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 Energy Basic'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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