Spectrum Low Correlations

SVARX Fund

USD 23.72 -0.04 -0.17%

Current 90-days correlation between Spectrum Low Volatility and Guggenheim High Yield is 0.35 (i.e., Weak diversification).Because correlations between assets tend to spike during market dislocations, the apparent diversification benefit of holding Spectrum Low alongside other equities may be lower in practice than historical averages suggest.

Correlation With Market Overview: Spectrum Low

Poor diversification

The correlation between SVARX and DJI is 0.62, which Macroaxis classifies as Poor diversification for the selected horizon. Used correctly, the chart helps investors judge whether adding the second position genuinely diversifies the first.

World Market Map provides context for diversified portfolio construction. Additional portfolio transparency improves capital positioning. This suggests a position in Spectrum Low Volatility in the portfolio view. 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 producer price index.

Moving together with Spectrum Mutual Fund

0.97	OTRGX	Ontrack E Fund	Pair Corr
0.9	SUNBX	Spectrum Unconstrained	Pair Corr
0.66	QMLAX	Quantified Market Leaders	Pair Corr
0.67	QMLFX	Quantified Market Leaders	Pair Corr
0.89	SFHYX	Hundredfold Select	Pair Corr
0.91	QRDTX	Quantified Rising	Pair Corr
0.89	QALAX	Quantified Alternative	Pair Corr
0.88	QALTX	Quantified Alternative	Pair Corr
0.8	QBDAX	Quantified Managed Income	Pair Corr
0.82	QBDSX	Quantified Managed Income	Pair Corr
0.87	QCGDX	Quantified Common Ground	Pair Corr
0.62	QEVOX	Quantified Evolution Plus	Pair Corr
0.79	QGBLX	Quantified Global	Pair Corr
0.77	QGLDX	Gold Bullion	Pair Corr
0.77	QGLCX	Gold Bullion	Pair Corr
0.89	KAMCX	Kensington Managed Income	Pair Corr
0.92	KAMIX	Kensington Managed Income	Pair Corr
0.96	BSICX	BlackRock Strategic Opps	Pair Corr
0.95	BASIX	BlackRock Strategic Opps	Pair Corr
0.96	BSIIX	BlackRock Strategic	Pair Corr
0.96	BSIKX	BlackRock Strategic	Pair Corr
0.86	PMZNX	PIMCO Mortgage	Pair Corr
0.87	PMZCX	PIMCO Mortgage	Pair Corr
0.85	PMZAX	PIMCO Mortgage	Pair Corr
0.81	JSORX	JPMorgan Strategic Income	Pair Corr
0.8	JSOZX	JPMorgan Strategic Income	Pair Corr
0.84	JSOCX	JPMorgan Strategic Income	Pair Corr
0.95	HLDIX	Hartford Emerging	Pair Corr

Moving against Spectrum Mutual Fund

0.73	QGITX	Quantified Government	Pair Corr
0.41	QFITX	Quantified Tactical Fixed	Pair Corr

Related Correlations Analysis

	FLDOX	ATESX	NWKEX	NWGPX	FLC	TBCUX	HOOSX	SCURX	SCUIX	SIHPX
FLDOX		-0.55	0.7	0.69	0.88	0.95	0.92	0.88	0.92	0.67	FLDOX
ATESX	-0.55		-0.32	-0.33	-0.54	-0.74	-0.54	-0.43	-0.54	-0.14	ATESX
NWKEX	0.7	-0.32		1.0	0.61	0.59	0.7	0.53	0.7	0.66	NWKEX
NWGPX	0.69	-0.33	1.0		0.61	0.59	0.69	0.52	0.69	0.65	NWGPX
FLC	0.88	-0.54	0.61	0.61		0.89	0.78	0.89	0.79	0.71	FLC
TBCUX	0.95	-0.74	0.59	0.59	0.89		0.88	0.85	0.89	0.57	TBCUX
HOOSX	0.92	-0.54	0.7	0.69	0.78	0.88		0.82	1.0	0.64	HOOSX
SCURX	0.88	-0.43	0.53	0.52	0.89	0.85	0.82		0.83	0.68	SCURX
SCUIX	0.92	-0.54	0.7	0.69	0.79	0.89	1.0	0.83		0.64	SCUIX
SIHPX	0.67	-0.14	0.66	0.65	0.71	0.57	0.64	0.68	0.64		SIHPX
	FLDOX	ATESX	NWKEX	NWGPX	FLC	TBCUX	HOOSX	SCURX	SCUIX	SIHPX

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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

NWGPX	+ 1.0	NWKEX
SCUIX	+ 1.0	HOOSX
TBCUX	+ 0.95	FLDOX
HOOSX	+ 0.92	FLDOX
SCUIX	+ 0.92	FLDOX
TBCUX	+ 0.89	FLC

High negative correlations

TBCUX	- 0.74	ATESX
ATESX	- 0.55	FLDOX
SCUIX	- 0.54	ATESX
HOOSX	- 0.54	ATESX
FLC	- 0.54	ATESX
SCURX	- 0.43	ATESX

Risk-Adjusted Indicators

Surface-level performance for Spectrum Mutual Fund can mask how the business actually stacks up against its competitive set. Without reviewing risk-adjusted indicators, investors may overweight recent returns and underweight the volatility required to achieve them. 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
FLDOX	0.38	0.05	0.14	0.04	0.41	-0.44	0.71	-0.91	3.26
ATESX	0.41	-0.05	0.00	-0.17	0.00	0.00	0.72	-1.29	2.38
NWKEX	1.49	0.48	0.38	0.31	0.75	-1.93	2.31	-1.98	36.28
NWGPX	1.60	0.55	0.43	0.36	0.70	-2.15	2.32	-2.01	41.25
FLC	0.36	0.00	0.07	-0.01	0.59	-0.32	0.63	-0.70	3.07
TBCUX	0.64	0.20	0.22	0.25	0.71	-0.71	1.36	-1.29	10.85
HOOSX	1.04	0.28	0.21	0.13	0.92	-1.18	1.95	-1.93	19.04
SCURX	0.80	0.03	0.00	-0.02	0.00	0.00	1.73	-1.92	5.63
SCUIX	1.04	0.28	0.21	0.12	0.93	-1.17	1.98	-1.91	18.71
SIHPX	0.11	-0.01	0.00	-0.30	0.00	0.00	0.30	-0.30	0.92

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