Steward Covered Correlations

SCJAX Fund

USD 7.56 0.01 0.13%

The current 90-days correlation between Steward Ered Call and Wesmark Government Bond is 0.01 (i.e., Significant diversification). The correlation of Steward Covered 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 Covered Correlation With Market

Poor diversification

The correlation between Steward Ered Call and DJI is 0.77 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Steward Ered Call 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 Ered Call. 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

0.92	SCECX	Steward Small Mid	Pair Corr
1.0	SCJIX	Steward Ered Call	Pair Corr
0.99	SEEHX	Steward Large Cap	Pair Corr
0.92	TRDFX	Steward Small Mid	Pair Corr
0.7	JEPAX	Jpmorgan Research Equity	Pair Corr
0.72	JEPCX	Jpmorgan Research Equity	Pair Corr
0.69	JEPIX	Jpmorgan Equity Premium	Pair Corr
0.99	GSPKX	Goldman Sachs Equity	Pair Corr
0.99	GVIRX	Goldman Sachs Equity	Pair Corr
0.99	GSPAX	Goldman Sachs Equity	Pair Corr
1.0	GSPQX	Goldman Sachs Equity	Pair Corr
0.99	GSFPX	Goldman Sachs Equity	Pair Corr
0.99	GIDWX	Goldman Sachs Equity	Pair Corr
0.66	FTYPX	Fidelity Freedom Index	Pair Corr
0.64	FFBTX	Fidelity Freedom Blend	Pair Corr
0.93	GCAVX	Gmo Small Cap	Pair Corr
0.72	GQLOX	Gmo Quality Fund	Pair Corr
0.99	GMCQX	Gmo Equity Allocation	Pair Corr

Moving against Steward Mutual Fund

0.58	SMNIX	Crossmark Steward Equity	Pair Corr
0.78	RYUHX	Inverse Sp 500	Pair Corr
0.73	GAAVX	Gmo Alternative Allo	Pair Corr
0.6	GABFX	Gmo Asset Allocation	Pair Corr
0.6	WATCX	Western Asset Interm	Pair Corr
0.56	IIBAX	Voya Intermediate Bond	Pair Corr
0.55	GIGGX	Deutsche Gnma	Pair Corr
0.37	PUGCX	Putnam Global Equity	Pair Corr
0.31	DURIX	Deutsche European Equity	Pair Corr
0.61	FXIDX	Fixed Income Shares	Pair Corr
0.55	NWJJX	Nationwide Highmark Bond	Pair Corr
0.54	NECRX	Loomis Sayles E	Pair Corr
0.5	ABQYX	Ab Intermediate Bond	Pair Corr
0.47	SNGYX	Sit Government Securities	Pair Corr

Related Correlations Analysis

	WMBDX	AUNTX	RGVAX	ATOAX	PBCAX	VSBIX	GSOIX
WMBDX		0.76	0.99	0.8	0.81	0.93	0.96	WMBDX
AUNTX	0.76		0.72	0.77	0.9	0.71	0.75	AUNTX
RGVAX	0.99	0.72		0.8	0.78	0.95	0.96	RGVAX
ATOAX	0.8	0.77	0.8		0.69	0.91	0.79	ATOAX
PBCAX	0.81	0.9	0.78	0.69		0.69	0.85	PBCAX
VSBIX	0.93	0.71	0.95	0.91	0.69		0.91	VSBIX
GSOIX	0.96	0.75	0.96	0.79	0.85	0.91		GSOIX
	WMBDX	AUNTX	RGVAX	ATOAX	PBCAX	VSBIX	GSOIX

Click cells to compare fundamentals

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Risk-Adjusted Indicators

There is a big difference between Steward Mutual Fund performing well and Steward Covered 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 Covered'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
WMBDX	0.25	0.02	0.26	0.65	0.21	(0.31)	0.63	(0.51)	1.43
AUNTX	0.12	0.00	0.23	0.00	0.16	(0.18)	0.28	(0.28)	0.76
RGVAX	0.25	0.03	0.27	0.65	0.22	(0.31)	0.60	(0.43)	1.56
ATOAX	0.02	0.00	0.00	(0.07)	0.00	0.00	0.00	0.00	0.30
PBCAX	0.11	(0.01)	0.00	0.78	0.00	0.00	0.30	(0.31)	0.82
VSBIX	0.06	0.01	0.88	7.94	0.00	(0.08)	0.16	(0.12)	0.33
GSOIX	0.24	0.01	0.27	(0.22)	0.22	(0.28)	0.62	(0.46)	1.42

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