Steward Global Correlations

Mutual Funds . USA . 
Fund . Steward Global Equity
SGIFX Fund  USD 38.38  0.04  0.10%   
The current 90-days correlation between Steward Global Equity and Steward Small Mid Cap is 0.91 (i.e., Almost no diversification). The correlation of Steward 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.

Steward Global Correlation With Market

Very poor diversification

The correlation between Steward Global Equity and DJI is 0.87 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Steward Global Equity 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 Global Equity. 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 census.

Moving together with Steward Mutual Fund

  0.98SSMOX Steward Small MidPairCorr
  0.98SCECX Steward Small MidPairCorr
  0.98SCJAX Steward Ered CallPairCorr
  0.99SCJCX Steward Ered CallPairCorr
  0.97SCJIX Steward Ered CallPairCorr
  0.69SEACX Steward Select BondPairCorr
  0.99SEECX Steward Large CapPairCorr
  0.99SEEHX Steward Large CapPairCorr
  0.99SEEKX Steward Large CapPairCorr
  1.0SGIDX Steward Global EPairCorr
  1.0SGIGX Steward Global EquityPairCorr
  1.0SGISX Stewart Global EquityPairCorr
  0.99SJCIX Steward FundsPairCorr
  0.99SJCAX Steward Large CapPairCorr
  0.99SJCRX Steward Large CapPairCorr
  0.99SJGIX Steward Large CapPairCorr
  0.99SJGAX Steward Large CapPairCorr
  0.99SJVAX Steward FundsPairCorr
  0.99SJVIX Steward FundsPairCorr
  0.98TRDFX Steward Small MidPairCorr
  0.98SNTCX Steward InternationalPairCorr
  0.96SNTFX Steward InternationalPairCorr
  0.98SNTKX Steward InternationalPairCorr
  0.99TEDRX Franklin Mutual GlobalPairCorr
  0.99FMDRX Franklin Mutual GlobalPairCorr
  0.99DOXWX Dodge Cox GlobalPairCorr
  0.99DODWX Dodge Global StockPairCorr
  0.93TRZRX T Rowe PricePairCorr
  0.99TEDIX Franklin Mutual GlobalPairCorr
  0.99MDISX Franklin Mutual GlobalPairCorr
  0.99TEDSX Franklin Mutual GlobalPairCorr
  0.93PRAFX T Rowe PricePairCorr
  0.99BEGRX Franklin Mutual BeaconPairCorr

Moving against Steward Mutual Fund

  0.53SMNAX Steward Equity MarketPairCorr
  0.52SMNIX Crossmark Steward EquityPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Steward Mutual Fund performing well and Steward 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 Steward 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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