Steward Small-mid Correlations

Mutual Funds . USA . 
Fund . Steward Small Mid Cap
SSMOX Fund  USD 11.18  0.08  0.72%   
The current 90-days correlation between Steward Small Mid and Prudential Short Duration is 0.15 (i.e., Average diversification). The correlation of Steward Small-mid 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 Small-mid Correlation With Market

Almost no diversification

The correlation between Steward Small Mid Cap and DJI is 0.93 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Steward Small Mid Cap 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 Small Mid Cap. 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 persons.

Moving together with STEWARD Mutual Fund

  1.0SCECX Steward Small MidPairCorr
  0.98SCJAX Steward Ered CallPairCorr
  0.98SCJCX Steward Ered CallPairCorr
  0.98SCJIX Steward Ered CallPairCorr
  0.98SEECX Steward Large CapPairCorr
  0.98SEEHX Steward Large CapPairCorr
  0.98SEEKX Steward Large CapPairCorr
  0.99SGIDX Steward Global EPairCorr
  0.99SGIGX Steward Global EquityPairCorr
  0.99SGIFX Steward Global EquityPairCorr
  0.99SGISX Stewart Global EquityPairCorr
  0.99SJCRX Steward Large CapPairCorr
  0.97SJGIX Steward Large CapPairCorr
  0.97SJGAX Steward Large CapPairCorr
  0.92SJVAX Steward FundsPairCorr
  1.0SJVIX Steward FundsPairCorr
  0.93TRDFX Steward Small MidPairCorr
  0.95SNTCX Steward InternationalPairCorr
  0.95SNTKX Steward InternationalPairCorr
  1.0VSMAX Vanguard Small CapPairCorr
  1.0VSCIX Vanguard Small CapPairCorr
  1.0VSCPX Vanguard Small CapPairCorr
  1.0NAESX Vanguard Small CapPairCorr
  0.99FSSNX Fidelity Small CapPairCorr
  1.0DFSTX Us Small CapPairCorr
  0.99PASVX T Rowe PricePairCorr
  0.92PRVIX T Rowe PricePairCorr
  0.99TRZVX T Rowe PricePairCorr
  0.92PRSVX T Rowe PricePairCorr
  0.98VSTSX Vanguard Total StockPairCorr
  0.98VSMPX Vanguard Total StockPairCorr
  0.98VITSX Vanguard Total StockPairCorr

Moving against STEWARD Mutual Fund

  0.35SMNIX Crossmark Steward EquityPairCorr
  0.31SMNAX Steward Equity MarketPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between STEWARD Mutual Fund performing well and Steward Small-mid 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 Small-mid'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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