Sp 500 Correlations

Mutual Funds . USA . 
Fund . Sp 500 Index
SPFIX Fund  USD 84.12  0.17  0.20%   
The current 90-days correlation between Sp 500 Index and Angel Oak Multi Strategy is 0.13 (i.e., Average diversification). The correlation of Sp 500 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.

Sp 500 Correlation With Market

Poor diversification

The correlation between Sp 500 Index and DJI is 0.75 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sp 500 Index 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 Sp 500 Index. 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 SPFIX Mutual Fund

  0.61CFNTX California Tax FreePairCorr
  0.76NQQQX Shelton FundsPairCorr
  0.98NASDX Nasdaq 100 IndexPairCorr
  0.87EQTKX Shelton E ValuePairCorr
  0.88EQTIX Shelton E ValuePairCorr
  0.88NDXKX Nasdaq 100 IndexPairCorr
  0.64SISEX Shelton InternationalPairCorr
  0.63SISLX Shelton InternationalPairCorr
  0.77SMCIX Sp Smallcap IndexPairCorr
  0.71SMLKX Sp Smallcap IndexPairCorr
  0.66DEBTX Shelton Tactical CreditPairCorr
  0.66DEBIX Shelton Tactical CreditPairCorr
  0.69SPMIX Sp Midcap IndexPairCorr
  0.62MIDKX Sp Midcap IndexPairCorr
  0.92SPXKX Sp 500 IndexPairCorr
  0.76VTSAX Vanguard Total StockPairCorr
  0.78VFIAX Vanguard 500 IndexPairCorr
  0.77VTSMX Vanguard Total StockPairCorr
  0.77VITSX Vanguard Total StockPairCorr
  0.78VSMPX Vanguard Total StockPairCorr
  0.76VSTSX Vanguard Total StockPairCorr
  0.78VFINX Vanguard 500 IndexPairCorr
  0.78VFFSX Vanguard 500 IndexPairCorr
  0.93VINIX Vanguard InstitutionalPairCorr
  0.93VIIIX Vanguard InstitutionalPairCorr
  0.69VTIAX Vanguard Total InterPairCorr
  0.69VGTSX Vanguard Total InterPairCorr
  0.81HCYIX Direxion Hilton TacticalPairCorr
  0.79PUDQX Prudential Real AssetsPairCorr
  0.86PFSEX Riskproreg; 30+PairCorr
  0.79FGYMX Fidelity New MarketsPairCorr
  0.79ALOIX Allianzgi InternationalPairCorr

Moving against SPFIX Mutual Fund

  0.38EMSQX Shelton Emerging MarketsPairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

There is a big difference between SPFIX Mutual Fund performing well and Sp 500 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 Sp 500'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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