Steward Funds Correlations

Mutual Funds . USA . 
Fund . Steward Funds
SJCIX Fund  USD 31.64  0.02  0.06%   
The current 90-days correlation between Steward Funds and Putnam Money Market is 0.03 (i.e., Significant diversification). The correlation of Steward Funds 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 Funds Correlation With Market

Very poor diversification

The correlation between Steward Funds and DJI is 0.84 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Steward Funds 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 Funds . 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 Steward Mutual Fund

  0.68SSMOX Steward Small MidPairCorr
  0.68SCECX Steward Small MidPairCorr
  0.7SCJAX Steward Ered CallPairCorr
  0.7SCJCX Steward Ered CallPairCorr
  0.71SCJIX Steward Ered CallPairCorr
  0.71SEECX Steward Large CapPairCorr
  0.72SEEHX Steward Large CapPairCorr
  0.72SEEKX Steward Large CapPairCorr
  0.67SGIDX Steward Global EPairCorr
  0.67SGIGX Steward Global EquityPairCorr
  0.67SGIFX Steward Global EquityPairCorr
  0.68SGISX Stewart Global EquityPairCorr
  0.71SJCAX Steward Large CapPairCorr
  0.71SJCRX Steward Large CapPairCorr
  0.71SJGIX Steward Large CapPairCorr
  0.71SJGAX Steward Large CapPairCorr
  0.99SJVAX Steward FundsPairCorr
  0.69SJVIX Steward FundsPairCorr
  0.68TRDFX Steward Small MidPairCorr
  0.81SNTCX Steward InternationalPairCorr
  0.72VTSAX Vanguard Total StockPairCorr
  0.71VFIAX Vanguard 500 IndexPairCorr
  0.72VTSMX Vanguard Total StockPairCorr
  0.71VITSX Vanguard Total StockPairCorr
  0.72VSMPX Vanguard Total StockPairCorr
  0.72VSTSX Vanguard Total StockPairCorr
  0.71VFINX Vanguard 500 IndexPairCorr
  0.72VFFSX Vanguard 500 IndexPairCorr
  0.71VINIX Vanguard InstitutionalPairCorr
  0.71VIIIX Vanguard InstitutionalPairCorr

Moving against Steward Mutual Fund

  0.47SMNAX Steward Equity MarketPairCorr
  0.46SMNIX Crossmark Steward EquityPairCorr
  0.68USPSX Profunds UltrashortPairCorr
  0.68USPIX Profunds UltrashortPairCorr
  0.66UIPIX Ultrashort Mid CapPairCorr
  0.61TCTGX Transamerica CleartrackPairCorr
  0.61TCTJX Transamerica CleartrackPairCorr
  0.6TDKTX Cleartrack 2015 ClassPairCorr
  0.57TCSUX Cleartrack 2020 ClassPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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