Energy Basic Correlations

Mutual Funds . USA . 
Fund . Energy Basic Materials
SBMBX Fund  USD 12.12  0.07  0.57%   
The current 90-days correlation between Energy Basic Materials and Virtus Convertible is 0.15 (i.e., Average diversification). The correlation of Energy Basic 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.

Energy Basic Correlation With Market

Weak diversification

The correlation between Energy Basic Materials and DJI is 0.39 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Energy Basic Materials 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 Energy Basic Materials. 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 bureau of labor statistics.

Moving together with Energy Mutual Fund

  0.61SAMAX Moderately AggressivePairCorr
  1.0SEPIX Energy Basic MaterialsPairCorr
  0.72SFPAX Financial ServicesPairCorr
  0.9TRNEX T Rowe PricePairCorr
  0.77VMIAX Vanguard Materials IndexPairCorr
  0.9PRNEX T Rowe PricePairCorr
  0.85GEACX Gmo TrustPairCorr
  0.85GAAHX Gmo ResourcesPairCorr
  0.85GMOWX Gmo ResourcesPairCorr
  0.85GHAIX Global Hard AssetsPairCorr
  0.8FMFEX Materials PortfolioPairCorr
  0.8FMFAX Materials PortfolioPairCorr
  0.79FMFCX Materials PortfolioPairCorr
  0.62IVHIX Ivy High IncomePairCorr
  0.61IHIFX Ivy High IncomePairCorr
  0.62WRHIX Ivy High IncomePairCorr
  0.62WHIAX Ivy High IncomePairCorr
  0.69RYWAX Sp Smallcap 600PairCorr
  0.66JHJRX John Hancock EsgPairCorr
  0.74SLASX Selected American SharesPairCorr
  0.73IACIX Vy American CenturyPairCorr
  0.61VFIAX Vanguard 500 IndexPairCorr
  0.64JLHAX Retirement Living ThroughPairCorr
  0.61IDXNX Voya Index SolutionPairCorr
  0.64REGTX American Funds 2040PairCorr
  0.64RBHEX American Funds 2050PairCorr
  0.61PXEAX Pax Global EnvironmentalPairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

There is a big difference between Energy Mutual Fund performing well and Energy Basic 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 Energy Basic'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.

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions
 
Feedback Blog
Made with optimal in San Francisco
2025 Macroaxis LLC
COMMON DESTINATIONS
MAIN CATEGORIES
COMPANY