Energy Basic Correlations

Mutual Funds . USA . 
Fund . Energy Basic Materials
SEPIX Fund  USD 13.11  0.05  0.38%   
The current 90-days correlation between Energy Basic Materials and Salient Alternative Beta is -0.25 (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

Weak diversification

The correlation between Energy Basic Materials and DJI is 0.36 (i.e., Weak 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 gross domestic product.

Moving together with Energy Mutual Fund

  0.89SABAX Salient Alternative BetaPairCorr
  0.89SABIX Aggressive BalancedPairCorr
  0.88SABCX Salient Alternative BetaPairCorr
  0.89SAMAX Moderately AggressivePairCorr
  0.9SAMCX Salient Mlp FundPairCorr
  0.9SAMIX Moderately AggressivePairCorr
  0.88SSCCX Small CapitalizationPairCorr
  0.9SSCPX Small CapitalizationPairCorr
  0.88SSCYX Small CapitalizationPairCorr
  0.88SBCCX Moderately ConservativePairCorr
  1.0SBMBX Energy Basic MaterialsPairCorr
  0.89SBMCX Moderate BalancedPairCorr
  0.9SBMIX Moderate BalancedPairCorr
  0.92STPAX Technology MunicationsPairCorr
  0.92STPCX Technology MunicationsPairCorr
  0.91STPIX Technology MunicationsPairCorr
  0.89SCAAX Conservative BalancedPairCorr
  0.88SUMCX Conservative BalancedPairCorr
  1.0SEPCX Energy Basic MaterialsPairCorr
  0.87SFPCX Financial ServicesPairCorr
  0.85SFPAX Financial ServicesPairCorr
  0.86SFPIX Financial ServicesPairCorr
  0.86SIEYX International EquityPairCorr
  0.85SIECX International EquityPairCorr
  0.85SIEPX International EquityPairCorr
  0.88SLCGX Large CapitalizationPairCorr
  0.88SLCVX Large Cap ValuePairCorr
  0.88SLGCX Large CapitalizationPairCorr
  0.87SLGYX Large CapitalizationPairCorr
  0.87SLVCX Large Cap ValuePairCorr
  0.86SLVYX Large Cap ValuePairCorr
  0.78SMBCX Municipal Bond PortfolioPairCorr
  0.82SMBAX Municipal Bond PortfolioPairCorr
  0.88SMACX Moderately ServativePairCorr
  0.82SMBPX Municipal Bond PortfolioPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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.
Mean DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
SABAX  0.47  0.20  0.09 (1.85) 0.23 
(0.58)
 1.44 
(0.99)
 3.39 
SABIX  0.47  0.20  0.09 (1.96) 0.21 
(0.59)
 1.43 
(0.98)
 3.37 
SABCX  0.47  0.20  0.09 (1.85) 0.27 
(0.58)
 1.45 
(1.00)
 3.42 
SAMAX  0.43  0.18  0.06 (2.01) 0.22 
(0.52)
 1.35 
(0.90)
 3.12 
SAMCX  0.42  0.09  0.05  0.28  0.20 
(0.51)
 1.28 
(0.91)
 3.08 
SAMIX  0.42  0.09  0.05  0.29  0.17 
(0.51)
 1.34 
(0.80)
 3.10 
SSCCX  0.97  0.29  0.05 (1.52) 0.78 
(2.94)
 3.03 
(2.78)
 6.17 
SSCPX  0.88  0.10  0.09  0.22  0.82 
(1.00)
 2.29 
(1.42)
 5.66 
SSCYX  0.86  0.29  0.11 (1.13) 0.75 
(0.98)
 2.37 
(1.49)
 5.47 
SBCCX  0.38  0.17  0.04 (2.24) 0.17 
(0.46)
 1.21 
(0.79)
 2.70 

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