Crossmark Steward Correlations

SMNIX Fund  USD 28.28  0.05  0.18%   
The current 90-days correlation between Crossmark Steward Equity and Balanced Fund Investor is -0.39 (i.e., Very good diversification). The correlation of Crossmark Steward 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.

Crossmark Steward Correlation With Market

Significant diversification

The correlation between Crossmark Steward Equity and DJI is 0.03 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Crossmark Steward Equity 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 Crossmark Steward Equity. 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 gross domestic product.

Moving against Crossmark Mutual Fund

  0.83SCECX Steward Small MidPairCorr
  0.82SSMOX Steward Small MidPairCorr
  0.82SJGIX Steward Large CapPairCorr
  0.81SJCIX Steward FundsPairCorr
  0.81SJCAX Steward Large CapPairCorr
  0.79SJCRX Steward Large CapPairCorr
  0.77SEECX Steward Large CapPairCorr
  0.77SEEHX Steward Large CapPairCorr
  0.76SEEKX Steward Large CapPairCorr
  0.69SCJAX Steward Ered CallPairCorr
  0.69SCJCX Steward Ered CallPairCorr
  0.82TRDFX Steward Small MidPairCorr
  0.81SJGAX Steward Large CapPairCorr
  0.8VSTSX Vanguard Total StockPairCorr
  0.8VSMPX Vanguard Total StockPairCorr
  0.78SJVAX Steward FundsPairCorr
  0.78SJVIX Steward FundsPairCorr
  0.68QMNRX Aqr Equity MarketPairCorr
  0.49BGCKX Blackrock Global LonPairCorr
  0.38BDMAX Blackrock Global LongPairCorr
  0.38BDMIX Blackrock Gbl LngPairCorr
  0.8VITSX Vanguard Total StockPairCorr
  0.8VTSAX Vanguard Total StockPairCorr
  0.79TILIX Tiaa-cref Large-capPairCorr
  0.78VFFSX Vanguard 500 IndexPairCorr

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   
VOLMXPRNHX
ASTIXVOLMX
ASTIXPRNHX
ASTIXTWBIX
CNGLXTWBIX
SMPIXVOLMX
  
High negative correlations   
TEOJXPRNHX

Risk-Adjusted Indicators

There is a big difference between Crossmark Mutual Fund performing well and Crossmark Steward 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 Crossmark Steward'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.