Steward Equity Correlations

SMNAX Fund  USD 27.96  0.16  0.57%   
The current 90-days correlation between Steward Equity Market and Steward Small Mid Cap is -0.42 (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

Very good diversification

The correlation between Steward Equity Market and DJI is -0.32 (i.e., Very good 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

  0.96SMNIX Crossmark Steward EquityPairCorr
  0.61PFATX Pimco FundamentalPairCorr

Moving against Steward Mutual Fund

  0.84SCECX Steward Small MidPairCorr
  0.81SSMOX Steward Small MidPairCorr
  0.8SJCIX Steward FundsPairCorr
  0.8SJCAX Steward Large CapPairCorr
  0.78SEECX Steward Large CapPairCorr
  0.78SEEHX Steward Large CapPairCorr
  0.76SEEKX Steward Large CapPairCorr
  0.75SCJAX Steward Ered CallPairCorr
  0.74SCJIX Steward Ered CallPairCorr
  0.69SCJCX Steward Ered CallPairCorr
  0.89QMNRX Aqr Equity MarketPairCorr
  0.83TRDFX Steward Small MidPairCorr
  0.8SJCRX Steward Large CapPairCorr
  0.8SJGIX Steward Large CapPairCorr
  0.8SJGAX Steward Large CapPairCorr
  0.77SJVAX Steward FundsPairCorr
  0.77SJVIX Steward FundsPairCorr
  0.6BDMAX Blackrock Global LongPairCorr
  0.7FRAAX Franklin Growth OppoPairCorr
  0.67NWGSX Nationwide Highmark SmallPairCorr
  0.59BDMCX Blackrock Global LngPairCorr
  0.59BDMIX Blackrock Gbl LngPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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   
SEAKXSEACX
SEEHXSEECX
SCJCXSCJAX
SCJIXSCJAX
SEECXSCJAX
SEEHXSCJAX
  
High negative correlations   
SEAKXSCJIX
SEACXSCJIX
SEEKXSEAKX
SEEHXSEAKX
SEECXSEAKX
SEEKXSEACX

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
SCECX  0.73  0.02  0.06  0.15  0.45 
 1.86 
 5.96 
SCJAX  0.31  0.04 (0.09) 0.22  0.00 
 0.88 
 2.18 
SCJCX  0.33  0.03 (0.11) 0.20  0.17 
 0.76 
 2.43 
SCJIX  0.31  0.04 (0.08) 0.25  0.13 
 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 (0.64) 0.00 
 0.36 
 1.08 
SEAKX  0.17 (0.02) 0.00 (0.79) 0.00 
 0.31 
 1.05 
SEECX  0.48  0.07  0.04  0.24  0.28 
 1.17 
 3.58 
SEEHX  0.48  0.07  0.04  0.24  0.28 
 1.18 
 3.59 
SEEKX  0.50  0.14  0.01  8.67  0.45 
 1.16 
 3.57