Spectrum Fund Correlations

SRUAX Fund

USD 15.13 0.21 1.37%

The current 90-days correlation between Spectrum Fund Adviser and Neuberger Berman Long is 0.72 (i.e., Poor diversification). The correlation of Spectrum Fund 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.

Spectrum Fund Correlation With Market

Good diversification

The correlation between Spectrum Fund Adviser and DJI is -0.06 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Spectrum Fund Adviser 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 Spectrum Fund Adviser. 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 nation.

Moving together with Spectrum Mutual Fund

0.88	SRUIX	Spectrum Fund Instit	Pair Corr
0.81	FLBDX	Total Return Bond	Pair Corr
0.87	FLDFX	Balanced Fund Retail	Pair Corr
0.97	FLFGX	Global Opportunities	Pair Corr
1.0	FLSPX	Spectrum Fund Retail	Pair Corr
0.82	NLSCX	Neuberger Berman Long	Pair Corr
0.85	NLSAX	Neuberger Berman Long	Pair Corr
0.86	NLSIX	Neuberger Berman Long	Pair Corr
0.8	QLERX	Aqr Long Short	Pair Corr
0.85	DHLSX	Diamond Hill Long	Pair Corr
0.9	DIAYX	Diamond Hill Long	Pair Corr
0.85	DIAMX	Diamond Hill Long	Pair Corr
0.98	ASLAX	Ab Select Longshort	Pair Corr
0.97	FTYPX	Fidelity Freedom Index	Pair Corr
0.97	FFBTX	Fidelity Freedom Blend	Pair Corr
0.78	GCAVX	Gmo Small Cap	Pair Corr
0.92	GQLOX	Gmo Quality Fund	Pair Corr
0.89	GHVIX	Gmo High Yield	Pair Corr
0.87	GMCQX	Gmo Equity Allocation	Pair Corr
0.84	PRXIX	T Rowe Price	Pair Corr
0.79	FIHBX	Federated Institutional	Pair Corr
0.63	MCFQX	Mercer Core Fixed	Pair Corr
0.84	TEFEX	Tax Exempt Fund	Pair Corr
0.76	MLOCX	Cohen Steers Mlp	Pair Corr
0.86	ARTFX	Artisan High Income	Pair Corr
0.88	ASDEX	Select Fund R6	Pair Corr
0.65	PWRCX	Power Income	Pair Corr
0.98	EVSTX	Wells Fargo Disciplined	Pair Corr
0.96	SDACX	Swan Defined Risk	Pair Corr
0.91	GILCX	Guggenheim Large Cap	Pair Corr
0.69	MABDX	Mutual Of America	Pair Corr
0.91	FRAMX	Fidelity Income Repl	Pair Corr
0.87	TRARX	T Rowe Price	Pair Corr
0.68	DBLTX	Doubleline Total Return	Pair Corr

Moving against Spectrum Mutual Fund

0.73	PWLMX	Pimco Rae Worldwide	Pair Corr
0.72	PWLIX	Pimco Rae Worldwide	Pair Corr

Related Correlations Analysis

	NLSCX	NLSAX	NLSIX	QLERX	DHLSX	DIAYX	DIAMX	PWLIX	PWLMX	ASLAX
NLSCX		0.99	0.99	0.63	0.62	0.67	0.61	-0.52	-0.51	0.82	NLSCX
NLSAX	0.99		1.0	0.7	0.68	0.72	0.68	-0.54	-0.54	0.84	NLSAX
NLSIX	0.99	1.0		0.73	0.7	0.75	0.7	-0.55	-0.55	0.86	NLSIX
QLERX	0.63	0.7	0.73		0.92	0.9	0.91	-0.53	-0.57	0.8	QLERX
DHLSX	0.62	0.68	0.7	0.92		0.92	1.0	-0.59	-0.62	0.84	DHLSX
DIAYX	0.67	0.72	0.75	0.9	0.92		0.92	-0.64	-0.64	0.91	DIAYX
DIAMX	0.61	0.68	0.7	0.91	1.0	0.92		-0.59	-0.62	0.84	DIAMX
PWLIX	-0.52	-0.54	-0.55	-0.53	-0.59	-0.64	-0.59		0.92	-0.74	PWLIX
PWLMX	-0.51	-0.54	-0.55	-0.57	-0.62	-0.64	-0.62	0.92		-0.73	PWLMX
ASLAX	0.82	0.84	0.86	0.8	0.84	0.91	0.84	-0.74	-0.73		ASLAX
	NLSCX	NLSAX	NLSIX	QLERX	DHLSX	DIAYX	DIAMX	PWLIX	PWLMX	ASLAX

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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

NLSIX	+ 1.0	NLSAX
DIAMX	+ 1.0	DHLSX
NLSAX	+ 0.99	NLSCX
NLSIX	+ 0.99	NLSCX
DHLSX	+ 0.92	QLERX
DIAYX	+ 0.92	DHLSX

High negative correlations

ASLAX	- 0.74	PWLIX
ASLAX	- 0.73	PWLMX
PWLMX	- 0.64	DIAYX
PWLIX	- 0.64	DIAYX
PWLMX	- 0.62	DIAMX
PWLMX	- 0.62	DHLSX

Risk-Adjusted Indicators

There is a big difference between Spectrum Mutual Fund performing well and Spectrum Fund 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 Spectrum Fund'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
NLSCX	0.21	0.00	(0.07)	0.14	0.31	(0.20)	0.43	(0.48)	1.39
NLSAX	0.21	0.00	(0.06)	0.04	0.28	(0.21)	0.40	(0.46)	1.37
NLSIX	0.21	0.00	(0.06)	(0.01)	0.30	(0.19)	0.40	(0.50)	1.35
QLERX	0.30	0.07	0.17	0.25	0.15	(0.34)	0.64	(0.49)	1.65
DHLSX	0.28	0.03	0.03	0.08	0.28	(0.30)	0.64	(0.48)	1.83
DIAYX	0.29	0.04	0.06	(7.08)	0.24	(0.30)	0.65	(0.48)	2.19
DIAMX	0.28	0.02	0.03	0.08	0.26	(0.29)	0.64	(0.47)	1.87
PWLIX	0.39	(0.04)	0.00	(0.44)	0.00	0.00	0.95	(0.81)	2.19
PWLMX	0.38	(0.02)	0.00	(0.77)	0.00	0.00	0.95	(0.68)	2.19
ASLAX	0.28	0.02	0.00	(0.52)	0.45	(0.26)	0.58	(0.51)	2.34

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