Summit Global Correlations

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.

Check out World Market Map to better understand how to build diversified portfolios. Also, note that the market value of any mutual fund could be closely tied with the direction of predictive economic indicators such as various price indices.

Moving together with Summit Mutual Fund

0.66	VTSAX	Vanguard Total Stock	Pair Corr
0.7	VFIAX	Vanguard 500 Index	Pair Corr
0.69	VTSMX	Vanguard Total Stock	Pair Corr
0.69	VITSX	Vanguard Total Stock	Pair Corr
0.66	VSMPX	Vanguard Total Stock	Pair Corr
0.66	VSTSX	Vanguard Total Stock	Pair Corr
0.7	VFINX	Vanguard 500 Index	Pair Corr
0.68	VFFSX	Vanguard 500 Index	Pair Corr
0.7	VINIX	Vanguard Institutional	Pair Corr
0.7	VIIIX	Vanguard Institutional	Pair Corr
0.74	GPICX	Guidepath Conservative	Pair Corr
0.61	MMM	3M Company	Pair Corr
0.63	GE	GE Aerospace	Pair Corr
0.72	IBM	International Business	Pair Corr

Moving against Summit Mutual Fund

0.48	HD	Home Depot	Pair Corr
0.47	VZ	Verizon Communications	Pair Corr
0.42	BA	Boeing	Pair Corr
0.4	PG	Procter Gamble	Pair Corr
0.39	HPQ	HP Inc Earnings Call Tomorrow	Pair Corr

Related Correlations Analysis

	IGNAX	AIWEX	FRNRX	GMOWX	FIKAX	BACCX
IGNAX		0.9	0.95	0.78	0.23	0.19	IGNAX
AIWEX	0.9		0.89	0.85	0.38	0.35	AIWEX
FRNRX	0.95	0.89		0.8	0.42	0.42	FRNRX
GMOWX	0.78	0.85	0.8		0.53	0.5	GMOWX
FIKAX	0.23	0.38	0.42	0.53		0.93	FIKAX
BACCX	0.19	0.35	0.42	0.5	0.93		BACCX
	IGNAX	AIWEX	FRNRX	GMOWX	FIKAX	BACCX

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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
IGNAX	0.75	0.10	0.07	0.15	1.16	(0.74)	1.56	(2.10)	5.41
AIWEX	0.83	0.06	0.05	0.10	1.11	(0.82)	1.57	(1.68)	5.69
FRNRX	0.70	0.06	0.04	0.10	1.03	(0.68)	1.49	(1.93)	4.74
GMOWX	0.93	0.04	0.03	0.06	1.10	(1.06)	2.02	(1.83)	5.52
FIKAX	0.78	0.09	0.06	0.36	0.99	(0.84)	1.63	(1.77)	4.98
BACCX	0.68	0.02	0.01	0.09	0.91	(0.66)	1.36	(1.50)	3.81

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Summit Global Correlations

Moving together with Summit Mutual Fund

Moving against Summit Mutual Fund

Related Correlations Analysis

Risk-Adjusted Indicators

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