Shelton Green Correlations

Mutual Funds . USA . 
Fund . Shelton Green Alpha
NEXTX Fund  USD 29.24  0.32  1.08%   
The current 90-days correlation between Shelton Green Alpha and Firsthand Alternative Energy is 0.05 (i.e., Significant diversification). The correlation of Shelton Green 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.

Shelton Green Correlation With Market

Good diversification

The correlation between Shelton Green Alpha and DJI is -0.03 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Shelton Green Alpha and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Shelton Green Alpha. 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 estimate.

Moving together with Shelton Mutual Fund

  0.91NQQQX Shelton FundsPairCorr
  0.91NASDX Nasdaq 100 IndexPairCorr
  0.93EQTKX Shelton E ValuePairCorr
  0.93EQTIX Shelton E ValuePairCorr
  0.91NDXKX Nasdaq 100 IndexPairCorr
  0.97NEXIX Shelton Green AlphaPairCorr
  0.94SMCIX Sp Smallcap IndexPairCorr
  0.94SMLKX Sp Smallcap IndexPairCorr
  0.92SPFIX Sp 500 IndexPairCorr
  0.71SPMIX Sp Midcap IndexPairCorr
  0.96MIDKX Sp Midcap IndexPairCorr
  0.92SPXKX Sp 500 IndexPairCorr
  0.94PAMCX T Rowe PricePairCorr
  0.69RRMGX T Rowe PricePairCorr
  0.94TRQZX T Rowe PricePairCorr
  0.69RPMGX T Rowe PricePairCorr
  0.92PRJIX T Rowe PricePairCorr
  0.67PRNHX T Rowe PricePairCorr
  0.92TRUZX T Rowe PricePairCorr
  0.76PCBIX Midcap Fund InstitutionalPairCorr
  0.77PEMGX Midcap Fund ClassPairCorr
  0.78PMBCX Midcap Fund ClassPairCorr
  0.91ASG Liberty All StarPairCorr
  0.92CII Blackrock EnhancedPairCorr
  0.9ETV Eaton Vance TaxPairCorr
  0.87CLM Cornerstone StrategicPairCorr
  0.87CRF Cornerstone StrategicPairCorr
  0.9USA Liberty All StarPairCorr

Moving against Shelton Mutual Fund

  0.66CAUKX Us Government SecuritiesPairCorr
  0.65CAUSX Us Government SecuritiesPairCorr
  0.52SISEX Shelton InternationalPairCorr
  0.51SISLX Shelton InternationalPairCorr
  0.4DEBTX Shelton Tactical CreditPairCorr
  0.4DEBIX Shelton Tactical CreditPairCorr
  0.64NECRX Loomis Sayles EPairCorr
  0.64JSNCX Jhancock Short DurationPairCorr
  0.45FIVOX Fidelity InternationalPairCorr

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   
ADNPX
+ 0.96
SAGAX
SAGAX
+ 0.71
ALTEX
ADNPX
+ 0.63
ALTEX
GAAEX
+ 0.36
ALTEX
ADNPX
+ 0.35
GAAEX
SAGAX
+ 0.34
GAAEX
  
High negative correlations   
SAGAX
- 0.83
NALFX
ADNPX
- 0.77
NALFX
NALFX
- 0.51
ALTEX

Risk-Adjusted Indicators

There is a big difference between Shelton Mutual Fund performing well and Shelton Green 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 Shelton Green'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.

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