Steward Equity Correlations

SMNAX Fund  USD 28.12  0.11  0.39%   
The current 90-days correlation between Steward Equity Market and Steward Small Mid Cap is -0.39 (i.e., Very good diversification). The correlation of Steward Equity 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.

Steward Equity Correlation With Market

Significant diversification

The correlation between Steward Equity Market and DJI is 0.02 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Steward Equity Market 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 Steward Equity Market. 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 Steward Mutual Fund

  1.0SMNIX Crossmark Steward EquityPairCorr

Moving against Steward Mutual Fund

  0.83SSMOX Steward Small MidPairCorr
  0.83SCECX Steward Small MidPairCorr
  0.83SJGAX Steward Large CapPairCorr
  0.83TRDFX Steward Small MidPairCorr
  0.82SJCAX Steward Large CapPairCorr
  0.82SJGIX Steward Large CapPairCorr
  0.81SJCIX Steward FundsPairCorr
  0.81SJCRX Steward Large CapPairCorr
  0.8SJVAX Steward FundsPairCorr
  0.78SEECX Steward Large CapPairCorr
  0.78SEEHX Steward Large CapPairCorr
  0.78SJVIX Steward FundsPairCorr
  0.77SEEKX Steward Large CapPairCorr
  0.73SCJIX Steward Ered CallPairCorr
  0.69SCJAX Steward Ered CallPairCorr
  0.68SCJCX Steward Ered CallPairCorr
  0.88VISGX Vanguard Small CapPairCorr
  0.87QMNRX Aqr Equity MarketPairCorr
  0.87CLM Cornerstone Strategic Sell-off TrendPairCorr
  0.8FBALX Fidelity BalancedPairCorr
  0.79FPURX Fidelity PuritanPairCorr
  0.78VFINX Vanguard 500 IndexPairCorr
  0.78VFIAX Vanguard 500 IndexPairCorr
  0.68XFINX Angel Oak FinancialPairCorr
  0.63MNEVX Mainstay Conservative EtfPairCorr
  0.62BDMAX Blackrock Global LongPairCorr
  0.62BDMIX Blackrock Gbl LngPairCorr
  0.62BGCKX Blackrock Global LonPairCorr
  0.61RYRCX Retailing Fund ClassPairCorr

Related Correlations Analysis

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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   
SCJCXSCJAX
SEAKXSEACX
SEECXSCJIX
SCECXSSMOX
SEECXSCECX
SCJIXSCJAX
  
High negative correlations   
SEAKXSCJIX
SEACXSCJIX
SEECXSEAKX
SEECXSEACX
SEAKXSCJAX
SEACXSCJAX

Risk-Adjusted Indicators

There is a big difference between Steward Mutual Fund performing well and Steward Equity 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 Steward Equity'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
SSMOX  0.74  0.13  0.03  0.88  0.53 
 1.88 
 5.85 
SCECX  0.74  0.01  0.04  0.14  0.53 
 1.86 
 5.96 
SCJAX  0.34  0.07 (0.11) 6.04  0.28 
 0.88 
 2.40 
SCJCX  0.35  0.07 (0.12) 26.30  0.34 
 0.76 
 2.43 
SCJIX  0.32  0.03 (0.08) 0.20  0.31 
 0.87 
 2.36 
SEAAX  0.00  0.00  0.00  0.00  0.00 
 0.00 
 0.00 
SEACX  0.17 (0.02) 0.00 (0.69) 0.00 
 0.36 
 1.08 
SEABX  0.00  0.00  0.00  0.00  0.00 
 0.00 
 0.00 
SEAKX  0.17 (0.02) 0.00 (0.86) 0.00 
 0.31 
 1.05 
SEECX  0.50  0.06  0.03  0.21  0.44 
 1.17 
 3.58