Steward Global Correlations

SGIGX Fund

USD 34.35 0.21 0.62%

The current 90-days correlation between Steward Global Equity and Steward Funds is 0.95 (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 good diversification

The correlation between Steward Global Equity and DJI is -0.34 (i.e., Very good 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 price.

Moving together with Steward Mutual Fund

0.86	TEDRX	Franklin Mutual Global	Pair Corr
0.8	FMDRX	Franklin Mutual Global	Pair Corr
0.77	DOXWX	Dodge Cox Global	Pair Corr
0.77	DODWX	Dodge Global Stock	Pair Corr
0.77	TRZRX	T Rowe Price	Pair Corr
0.8	TEDIX	Franklin Mutual Global	Pair Corr
0.86	MDISX	Franklin Mutual Global	Pair Corr
0.8	TEDSX	Franklin Mutual Global	Pair Corr
0.77	PRAFX	T Rowe Price	Pair Corr
0.78	BEGRX	Franklin Mutual Beacon	Pair Corr
0.68	SMPIX	Semiconductor Ultrasector	Pair Corr
0.68	SMPSX	Semiconductor Ultrasector	Pair Corr
0.65	ONERX	One Rock Fund	Pair Corr
0.67	BTECX	Baron Select Funds	Pair Corr
0.69	TTEEX	T Rowe Price	Pair Corr
0.67	BTEUX	Baron Select Funds	Pair Corr
0.67	BTEEX	Baron Select Funds	Pair Corr
0.76	MSUMX	Managed Account Series	Pair Corr
0.77	HERSX	Hartford Emerging Markets	Pair Corr
0.84	RITFX	American High Income	Pair Corr
0.89	GCSUX	Goldman Sachs Small	Pair Corr
0.81	RYBIX	Basic Materials	Pair Corr
0.84	OAZEX	Oakmark International	Pair Corr
0.84	WRHIX	Ivy High Income	Pair Corr
0.81	FHKAX	Fidelity China Region	Pair Corr
0.84	OANEX	Oakmark International	Pair Corr
0.79	FOSFX	Fidelity Overseas	Pair Corr
0.73	VFINX	Vanguard 500 Index	Pair Corr
0.77	RRSVX	Rbc Small Cap	Pair Corr
0.7	AISTX	Limited Duration	Pair Corr
0.73	VFIAX	Vanguard 500 Index	Pair Corr
0.85	MPBAX	Global Strategist	Pair Corr
0.86	GNXCX	Alphacentric Global	Pair Corr

Related Correlations Analysis

	SJCIX	SJCAX	SJCRX	SJGIX	SJGAX	SSMOX	SSMEX	SJVAX	SJVIX
SJCIX		1.0	1.0	1.0	1.0	0.99	0.0	0.99	0.88	SJCIX
SJCAX	1.0		1.0	1.0	1.0	0.99	0.0	0.99	0.88	SJCAX
SJCRX	1.0	1.0		1.0	1.0	0.99	0.0	0.99	0.88	SJCRX
SJGIX	1.0	1.0	1.0		1.0	0.98	0.0	0.98	0.88	SJGIX
SJGAX	1.0	1.0	1.0	1.0		0.98	0.0	0.98	0.88	SJGAX
SSMOX	0.99	0.99	0.99	0.98	0.98		0.0	1.0	0.87	SSMOX
SSMEX	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	SSMEX
SJVAX	0.99	0.99	0.99	0.98	0.98	1.0	0.0		0.87	SJVAX
SJVIX	0.88	0.88	0.88	0.88	0.88	0.87	0.0	0.87		SJVIX
	SJCIX	SJCAX	SJCRX	SJGIX	SJGAX	SSMOX	SSMEX	SJVAX	SJVIX

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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

SJCAX	+ 1.0	SJCIX
SJCRX	+ 1.0	SJCIX
SJGIX	+ 1.0	SJCIX
SJGAX	+ 1.0	SJCIX
SJCRX	+ 1.0	SJCAX
SJGIX	+ 1.0	SJCAX

High negative correlations

SJVIX	- 0.0	SSMEX
SJVAX	- 0.0	SSMEX
SSMEX	- 0.0	SSMOX
SSMEX	- 0.0	SJGAX
SSMEX	- 0.0	SJGIX
SSMEX	- 0.0	SJCRX

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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
SJCIX	0.97	0.36	0.19	(1.52)	0.78	(1.16)	2.00	(1.96)	13.68
SJCAX	0.94	0.41	0.24	(1.40)	0.69	(1.16)	1.97	(1.69)	13.70
SJCRX	0.96	0.36	0.19	(1.52)	0.77	(1.18)	2.00	(1.96)	13.65
SJGIX	1.09	0.43	0.22	(1.77)	0.87	(1.33)	2.60	(1.77)	14.87
SJGAX	1.08	0.47	0.25	(1.59)	0.78	(1.30)	2.61	(1.59)	14.84
SSMOX	1.06	0.36	0.17	(1.21)	1.01	(1.36)	2.30	(2.20)	13.40
SSMEX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
SJVAX	0.89	0.35	0.22	(1.19)	0.67	(1.13)	1.99	(1.56)	11.75
SJVIX	0.92	0.31	0.17	(1.26)	0.76	(1.16)	2.02	(1.80)	11.72

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