Financial Services Correlations

SFPIX Fund

USD 0.22 0.00 0.00%

The current 90-days correlation between Financial Services and Bbh Intermediate Municipal is 0.26 (i.e., Modest diversification). The correlation of Financial Services 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.

Financial Services Correlation With Market

Good diversification

The correlation between Financial Services Portfolio and DJI is -0.13 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Financial Services Portfolio 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 Financial Services Portfolio. 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 Financial Mutual Fund

0.69

SLGCX

Large Capitalization

Pair Corr

Moving against Financial Mutual Fund

0.83	STPIX	Technology Munications	Pair Corr
0.78	SABIX	Aggressive Balanced	Pair Corr
0.78	SAMIX	Moderately Aggressive	Pair Corr
0.78	SBMIX	Moderate Balanced	Pair Corr
0.78	STPCX	Technology Munications	Pair Corr
0.77	SBMCX	Moderate Balanced	Pair Corr
0.77	SUMCX	Conservative Balanced	Pair Corr
0.76	SBCCX	Moderately Servative	Pair Corr
0.75	SSCYX	Small Capitalization	Pair Corr
0.74	SCAAX	Conservative Balanced	Pair Corr
0.73	SABAX	Salient Alternative Beta	Pair Corr
0.73	SAMAX	Moderately Aggressive	Pair Corr
0.73	SSCPX	Small Capitalization	Pair Corr
0.72	SABCX	Salient Alternative Beta	Pair Corr
0.72	SAMCX	Salient Mlp Fund	Pair Corr
0.72	STPAX	Technology Munications	Pair Corr
0.68	SSCCX	Saratoga Small Capit	Pair Corr
0.59	SHPCX	Health Biotchnology	Pair Corr
0.55	SHPAX	Health Biotchnology	Pair Corr
0.53	SBHIX	Health Biotchnology	Pair Corr
0.86	SLVCX	Large Cap Value	Pair Corr
0.84	SLCVX	Large Cap Value	Pair Corr
0.82	LUNAX	Conservative Balanced	Pair Corr
0.81	SMICX	Moderately Servative	Pair Corr
0.8	SLCGX	Large Capitalization	Pair Corr
0.79	SLGYX	Large Capitalization	Pair Corr
0.79	SLVYX	Large Cap Value	Pair Corr
0.79	SMIPX	Mid Capitalization	Pair Corr
0.77	SMACX	Moderately Servative	Pair Corr
0.76	JRGRX	Regional Bank	Pair Corr
0.74	RPFGX	Davis Financial	Pair Corr

Related Correlations Analysis

	BBINX	PCMNX	MIIIX	DLTNX	MSTBX	CSBCX	CFNLX
BBINX		0.97	0.75	0.82	0.84	0.76	0.99	BBINX
PCMNX	0.97		0.79	0.85	0.85	0.76	0.98	PCMNX
MIIIX	0.75	0.79		0.97	0.77	0.95	0.75	MIIIX
DLTNX	0.82	0.85	0.97		0.84	0.95	0.82	DLTNX
MSTBX	0.84	0.85	0.77	0.84		0.77	0.85	MSTBX
CSBCX	0.76	0.76	0.95	0.95	0.77		0.74	CSBCX
CFNLX	0.99	0.98	0.75	0.82	0.85	0.74		CFNLX
	BBINX	PCMNX	MIIIX	DLTNX	MSTBX	CSBCX	CFNLX

Risk-Adjusted Indicators

There is a big difference between Financial Mutual Fund performing well and Financial Services 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 Financial Services' 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
BBINX	0.07	0.01	(0.45)	1.76	0.00	(0.13)	0.10	(0.10)	0.58
PCMNX	0.06	0.01	(0.46)	1.14	0.00	(0.10)	0.16	(0.08)	0.33
MIIIX	0.17	(0.01)	(0.30)	(0.04)	0.17	(0.20)	0.32	(0.31)	0.94
DLTNX	0.14	0.00	(0.33)	0.00	0.09	(0.21)	0.34	(0.23)	0.79
MSTBX	0.06	0.00	(0.48)	0.24	0.00	(0.13)	0.20	(0.10)	0.41
CSBCX	0.15	(0.01)	(0.31)	(0.08)	0.17	(0.16)	0.27	(0.27)	0.75
CFNLX	0.07	0.01	(0.52)	6.78	0.00	(0.11)	0.21	(0.11)	0.48

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