Spirit Of Correlations

SOITX Fund

USD 10.09 0.02 0.20%

The current 90-days correlation between Spirit Of America and Spirit Of America is 0.31 (i.e., Weak diversification). The correlation of Spirit Of 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.

Spirit Of Correlation With Market

Very weak diversification

The correlation between Spirit Of America and DJI is 0.43 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Spirit Of America 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 Spirit Of America. 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 estimate.

Moving together with Spirit Mutual Fund

0.76	SACEX	Spirit Of America	Pair Corr
0.61	SACRX	Spirit Of America	Pair Corr
0.99	SACTX	Spirit Of America	Pair Corr
0.83	SACVX	Spirit Of America	Pair Corr
0.62	SOAAX	Spirit Of America	Pair Corr
0.68	SOAMX	Spirit Of America	Pair Corr
1.0	SOAIX	Spirit Of America	Pair Corr
0.83	SOAVX	Spirit Of America	Pair Corr
0.75	SOAUX	Spirit Of America	Pair Corr
0.74	SOCUX	Spirit Of America	Pair Corr
0.83	SOIVX	Spirit Of America	Pair Corr
0.76	SOIUX	Spirit Of America	Pair Corr
0.63	SOIAX	Spirit Of America	Pair Corr
0.74	SOIMX	Spirit Of America	Pair Corr
0.91	VWETX	Vanguard Long Term	Pair Corr
0.91	VWESX	Vanguard Long Term	Pair Corr
0.78	VBLAX	Vanguard Long Term	Pair Corr
0.78	VBLLX	Vanguard Long Term	Pair Corr
0.78	VBLIX	Vanguard Long Term	Pair Corr
0.91	SLDAX	Siit Long Duration	Pair Corr
0.94	VLTCX	Vanguard Long Term	Pair Corr
0.94	VLCIX	Vanguard Long Term	Pair Corr
0.83	PLRIX	Pimco Long Term	Pair Corr
0.83	PLRPX	Pimco Long Duration	Pair Corr
0.94	FSMMX	Fs Multi Strategy	Pair Corr
0.79	BTMPX	Ishares Msci Eafe	Pair Corr
0.61	BTMKX	Blackrock International	Pair Corr
0.79	MDIIX	Blackrock Intern Index	Pair Corr
0.63	AUIAX	Ab Equity Income	Pair Corr
0.78	WCMFX	Wcm Focused Small	Pair Corr
0.88	RRTIX	T Rowe Price	Pair Corr
0.86	DCMDX	Dunham Monthly Distr	Pair Corr

Related Correlations Analysis

	SACEX	SACFX	SACRX	SACTX	SACVX	SAIEX	SOAEX	SOAAX	SOAMX	SOAIX
SACEX		0.45	0.74	0.72	0.92	0.09	0.27	0.75	0.59	0.75	SACEX
SACFX	0.45		0.55	0.61	0.46	0.2	0.28	0.55	0.96	0.59	SACFX
SACRX	0.74	0.55		0.6	0.77	-0.01	0.14	1.0	0.66	0.62	SACRX
SACTX	0.72	0.61	0.6		0.79	-0.22	-0.07	0.61	0.69	1.0	SACTX
SACVX	0.92	0.46	0.77	0.79		-0.11	0.07	0.78	0.62	0.82	SACVX
SAIEX	0.09	0.2	-0.01	-0.22	-0.11		0.98	-0.01	0.09	-0.22	SAIEX
SOAEX	0.27	0.28	0.14	-0.07	0.07	0.98		0.13	0.2	-0.07	SOAEX
SOAAX	0.75	0.55	1.0	0.61	0.78	-0.01	0.13		0.66	0.63	SOAAX
SOAMX	0.59	0.96	0.66	0.69	0.62	0.09	0.2	0.66		0.69	SOAMX
SOAIX	0.75	0.59	0.62	1.0	0.82	-0.22	-0.07	0.63	0.69		SOAIX
	SACEX	SACFX	SACRX	SACTX	SACVX	SAIEX	SOAEX	SOAAX	SOAMX	SOAIX

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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

SOAAX	+ 1.0	SACRX
SOAIX	+ 1.0	SACTX
SOAEX	+ 0.98	SAIEX
SOAMX	+ 0.96	SACFX
SACVX	+ 0.92	SACEX
SOAIX	+ 0.82	SACVX

High negative correlations

SOAIX	- 0.22	SAIEX
SAIEX	- 0.22	SACTX
SAIEX	- 0.11	SACVX
SOAIX	- 0.07	SOAEX
SOAEX	- 0.07	SACTX
SOAAX	- 0.01	SAIEX

Risk-Adjusted Indicators

There is a big difference between Spirit Mutual Fund performing well and Spirit Of 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 Spirit Of'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
SACEX	0.86	0.09	0.02	0.33	0.96	(0.97)	1.95	(1.93)	5.05
SACFX	0.13	(0.02)	0.00	(0.26)	0.00	0.00	0.36	(0.24)	0.84
SACRX	0.59	0.01	(0.05)	0.14	0.83	(0.63)	1.40	(1.20)	4.57
SACTX	0.23	0.01	(0.28)	0.19	0.26	(0.24)	0.51	(0.49)	1.52
SACVX	0.68	0.16	0.14	0.31	0.54	(0.73)	2.07	(0.86)	4.80
SAIEX	0.97	(0.02)	(0.04)	0.10	1.81	(0.94)	1.87	(1.89)	10.64
SOAEX	0.95	0.00	(0.04)	0.12	1.64	(0.93)	1.87	(1.99)	9.55
SOAAX	0.59	0.01	(0.05)	0.15	0.81	(0.65)	1.51	(1.18)	4.60
SOAMX	0.12	(0.01)	(0.63)	(0.21)	0.14	(0.20)	0.24	(0.24)	0.84
SOAIX	0.23	0.01	(0.27)	0.22	0.24	(0.25)	0.51	(0.40)	1.52

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