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

1.0

SMNIX

Crossmark Steward Equity

Pair Corr

Moving against Steward Mutual Fund

0.83	SSMOX	Steward Small Mid	Pair Corr
0.83	SCECX	Steward Small Mid	Pair Corr
0.83	SJGAX	Steward Large Cap	Pair Corr
0.83	TRDFX	Steward Small Mid	Pair Corr
0.82	SJCAX	Steward Large Cap	Pair Corr
0.82	SJGIX	Steward Large Cap	Pair Corr
0.81	SJCIX	Steward Funds	Pair Corr
0.81	SJCRX	Steward Large Cap	Pair Corr
0.8	SJVAX	Steward Funds	Pair Corr
0.78	SEECX	Steward Large Cap	Pair Corr
0.78	SEEHX	Steward Large Cap	Pair Corr
0.78	SJVIX	Steward Funds	Pair Corr
0.77	SEEKX	Steward Large Cap	Pair Corr
0.73	SCJIX	Steward Ered Call	Pair Corr
0.69	SCJAX	Steward Ered Call	Pair Corr
0.68	SCJCX	Steward Ered Call	Pair Corr
0.88	VISGX	Vanguard Small Cap	Pair Corr
0.87	QMNRX	Aqr Equity Market	Pair Corr
0.87	CLM	Cornerstone Strategic Sell-off Trend	Pair Corr
0.8	FBALX	Fidelity Balanced	Pair Corr
0.79	FPURX	Fidelity Puritan	Pair Corr
0.78	VFINX	Vanguard 500 Index	Pair Corr
0.78	VFIAX	Vanguard 500 Index	Pair Corr
0.68	XFINX	Angel Oak Financial	Pair Corr
0.63	MNEVX	Mainstay Conservative Etf	Pair Corr
0.62	BDMAX	Blackrock Global Long	Pair Corr
0.62	BDMIX	Blackrock Gbl Lng	Pair Corr
0.62	BGCKX	Blackrock Global Lon	Pair Corr
0.61	RYRCX	Retailing Fund Class	Pair Corr

Related Correlations Analysis

	SSMOX	SCECX	SCJAX	SCJCX	SCJIX	SEAAX	SEACX	SEABX	SEAKX	SEECX
SSMOX		0.96	0.93	0.92	0.92	0.0	-0.54	0.0	-0.54	0.94	SSMOX
SCECX	0.96		0.89	0.88	0.93	0.0	-0.55	0.0	-0.56	0.96	SCECX
SCJAX	0.93	0.89		1.0	0.96	0.0	-0.59	0.0	-0.59	0.95	SCJAX
SCJCX	0.92	0.88	1.0		0.95	0.0	-0.57	0.0	-0.57	0.95	SCJCX
SCJIX	0.92	0.93	0.96	0.95		0.0	-0.64	0.0	-0.64	0.99	SCJIX
SEAAX	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	SEAAX
SEACX	-0.54	-0.55	-0.59	-0.57	-0.64	0.0		0.0	1.0	-0.61	SEACX
SEABX	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	SEABX
SEAKX	-0.54	-0.56	-0.59	-0.57	-0.64	0.0	1.0	0.0		-0.61	SEAKX
SEECX	0.94	0.96	0.95	0.95	0.99	0.0	-0.61	0.0	-0.61		SEECX
	SSMOX	SCECX	SCJAX	SCJCX	SCJIX	SEAAX	SEACX	SEABX	SEAKX	SEECX

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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

SCJCX	+ 1.0	SCJAX
SEAKX	+ 1.0	SEACX
SEECX	+ 0.99	SCJIX
SCECX	+ 0.96	SSMOX
SEECX	+ 0.96	SCECX
SCJIX	+ 0.96	SCJAX

High negative correlations

SEAKX	- 0.64	SCJIX
SEACX	- 0.64	SCJIX
SEECX	- 0.61	SEAKX
SEECX	- 0.61	SEACX
SEAKX	- 0.59	SCJAX
SEACX	- 0.59	SCJAX

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 Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
SSMOX	0.74	0.13	0.03	0.88	0.53	(0.92)	1.88	(1.18)	5.85
SCECX	0.74	0.01	0.04	0.14	0.53	(0.91)	1.86	(1.23)	5.96
SCJAX	0.34	0.07	(0.11)	6.04	0.28	(0.43)	0.88	(0.61)	2.40
SCJCX	0.35	0.07	(0.12)	26.30	0.34	(0.41)	0.76	(0.61)	2.43
SCJIX	0.32	0.03	(0.08)	0.20	0.31	(0.39)	0.87	(0.60)	2.36
SEAAX	0.00	0.00	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	0.00	0.36	(0.49)	1.08
SEABX	0.00	0.00	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	0.00	0.31	(0.49)	1.05
SEECX	0.50	0.06	0.03	0.21	0.44	(0.57)	1.17	(0.96)	3.58

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