Summit Global Correlations

Mutual Funds . USA . 
Fund . Summit Global Investments
SGICX Fund  USD 16.63  0.02  0.12%   
The current 90-days correlation between Summit Global Investments and The Hartford Growth is 0.82 (i.e., Very poor diversification). The correlation of Summit Global 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.

Summit Global Correlation With Market

Very poor diversification

The correlation between Summit Global Investments and DJI is 0.85 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Summit Global Investments 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 Summit Global Investments. 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 Summit Mutual Fund

  0.93SGLIX Summit Global InvestmentsPairCorr
  0.82SGPKX Sgi Peak GrowthPairCorr
  0.91SGPGX Sgi Prudent GrowthPairCorr
  1.0SILVX Summit Global InvestmentsPairCorr
  0.82BOGIX Bogle Small CapPairCorr
  1.0LVOLX Summit Global InvestmentsPairCorr
  0.81VTSAX Vanguard Total StockPairCorr
  0.81VFIAX Vanguard 500 IndexPairCorr
  0.81VTSMX Vanguard Total StockPairCorr
  0.81VITSX Vanguard Total StockPairCorr
  0.81VSMPX Vanguard Total StockPairCorr
  0.81VSTSX Vanguard Total StockPairCorr
  0.81VFINX Vanguard 500 IndexPairCorr
  0.81VFFSX Vanguard 500 IndexPairCorr
  0.81VINIX Vanguard InstitutionalPairCorr
  0.81VIIIX Vanguard InstitutionalPairCorr
  0.83DODGX Dodge Stock FundPairCorr
  0.8FAEGX Fidelity Advisor EquityPairCorr
  0.82SCBPX Strategic Asset ManaPairCorr
  0.82YOVIX Yorktown Small CapPairCorr
  0.78POSAX Global Real EstatePairCorr
  0.75PMAIX Pioneer Multi AssetPairCorr
  0.77GMAUX Gmo Emerging MarketsPairCorr
  0.74QUSRX Pear Tree PolarisPairCorr
  0.63ETNHX Eventide Healthcare LifePairCorr
  0.77TRKZX T Rowe PricePairCorr
  0.81FMOKX Oklahoma College SavingsPairCorr
  0.75LHYVX Lord Abbett HighPairCorr
  0.81FHAPX Fidelity Freedom BlendPairCorr
  0.66AVEFX Ave Maria BondPairCorr
  0.86CCGIX Chautauqua Global GrowthPairCorr
  0.78JSGIX John Hancock StrategicPairCorr
  0.62HOSBX Short Term BondPairCorr
  0.84SCGCX Qs Moderate GrowthPairCorr
  0.74WNYIX Wilmington New YorkPairCorr
  0.75DAADX Dfa Emerging MarketsPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Summit Mutual Fund performing well and Summit Global 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 Summit Global'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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