Sound Shore Correlations

Mutual Funds . USA . 
Fund . Sound Shore Fund
SSHFX Fund  USD 40.51  0.15  0.37%   
The current 90-days correlation between Sound Shore Fund and Artisan High Income is 0.31 (i.e., Weak diversification). The correlation of Sound Shore 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.

Sound Shore Correlation With Market

Very poor diversification

The correlation between Sound Shore Fund and DJI is 0.87 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sound Shore Fund 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 Sound Shore Fund. 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 price.

Moving together with Sound Mutual Fund

  1.0SSHVX Sound Shore FundPairCorr
  0.97VVIAX Vanguard Value IndexPairCorr
  0.92DOXGX Dodge Cox StockPairCorr
  0.94AFMFX American MutualPairCorr
  0.97FFMMX American Funds AmericanPairCorr
  0.97FFFMX American Funds AmericanPairCorr
  0.97AMRMX American MutualPairCorr
  0.97AMFFX American MutualPairCorr
  0.97AMFCX American MutualPairCorr
  0.92DODGX Dodge Stock FundPairCorr
  0.97VIVAX Vanguard Value IndexPairCorr
  0.95VTSAX Vanguard Total StockPairCorr
  0.94VFIAX Vanguard 500 IndexPairCorr
  0.95VTSMX Vanguard Total StockPairCorr
  0.95VSMPX Vanguard Total StockPairCorr
  0.95VSTSX Vanguard Total StockPairCorr
  0.95VITSX Vanguard Total StockPairCorr
  0.94VFINX Vanguard 500 IndexPairCorr
  0.94VFFSX Vanguard 500 IndexPairCorr
  0.9VGTSX Vanguard Total InterPairCorr
  0.9VTIAX Vanguard Total InterPairCorr
  0.93MCKSX Mainstay ConservativePairCorr
  0.75DIERX Dreyfus InternationalPairCorr
  0.89FAKZX FakzxPairCorr
  0.75ASGI Aberdeen Standard GlobalPairCorr
  0.72MWTSX Metropolitan West TotalPairCorr
  0.9FTFHX FtfhxPairCorr
  0.95ABALX American BalancedPairCorr
  0.85ADLIX Amg Managers DoublelinePairCorr
  0.79PUBAX Pimco Unconstrained BondPairCorr
  0.83HFHYX Hartford FloatingPairCorr
  0.86BTMSX Baird Short TermPairCorr
  0.87QGRYX Oppenheimer Gbl AllocPairCorr
  0.76NEFLX Loomis Sayles LimitedPairCorr
  0.91JEHAX JehaxPairCorr
  0.9SYMAX Alphacentric SymmetryPairCorr
  0.96JEPCX Jpmorgan Research EquityPairCorr
  0.96XGGZX Gabelli GlobalPairCorr
  0.87FTIEX Fidelity Total InterPairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

There is a big difference between Sound Mutual Fund performing well and Sound Shore 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 Sound Shore'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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