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.
Steward |
Moving together with Steward Mutual Fund
0.92 | SCECX | Steward Small Mid | PairCorr |
1.0 | SCJIX | Steward Ered Call | PairCorr |
0.99 | SEEHX | Steward Large Cap | PairCorr |
0.92 | TRDFX | Steward Small Mid | PairCorr |
0.7 | JEPAX | Jpmorgan Research Equity | PairCorr |
0.72 | JEPCX | Jpmorgan Research Equity | PairCorr |
0.69 | JEPIX | Jpmorgan Equity Premium | PairCorr |
0.99 | GSPKX | Goldman Sachs Equity | PairCorr |
0.99 | GVIRX | Goldman Sachs Equity | PairCorr |
0.99 | GSPAX | Goldman Sachs Equity | PairCorr |
1.0 | GSPQX | Goldman Sachs Equity | PairCorr |
0.99 | GSFPX | Goldman Sachs Equity | PairCorr |
0.99 | GIDWX | Goldman Sachs Equity | PairCorr |
0.66 | FTYPX | Fidelity Freedom Index | PairCorr |
0.64 | FFBTX | Fidelity Freedom Blend | PairCorr |
0.93 | GCAVX | Gmo Small Cap | PairCorr |
0.72 | GQLOX | Gmo Quality Fund | PairCorr |
0.99 | GMCQX | Gmo Equity Allocation | PairCorr |
Moving against Steward Mutual Fund
0.58 | SMNIX | Crossmark Steward Equity | PairCorr |
0.78 | RYUHX | Inverse Sp 500 | PairCorr |
0.73 | GAAVX | Gmo Alternative Allo | PairCorr |
0.6 | GABFX | Gmo Asset Allocation | PairCorr |
0.6 | WATCX | Western Asset Interm | PairCorr |
0.56 | IIBAX | Voya Intermediate Bond | PairCorr |
0.55 | GIGGX | Deutsche Gnma | PairCorr |
0.37 | PUGCX | Putnam Global Equity | PairCorr |
0.31 | DURIX | Deutsche European Equity | PairCorr |
0.61 | FXIDX | Fixed Income Shares | PairCorr |
0.55 | NWJJX | Nationwide Highmark Bond | PairCorr |
0.54 | NECRX | Loomis Sayles E | PairCorr |
0.5 | ABQYX | Ab Intermediate Bond | PairCorr |
0.47 | SNGYX | Sit Government Securities | PairCorr |
Related Correlations Analysis
0.76 | 0.99 | 0.8 | 0.81 | 0.93 | 0.96 | WMBDX | ||
0.76 | 0.72 | 0.77 | 0.9 | 0.71 | 0.75 | AUNTX | ||
0.99 | 0.72 | 0.8 | 0.78 | 0.95 | 0.96 | RGVAX | ||
0.8 | 0.77 | 0.8 | 0.69 | 0.91 | 0.79 | ATOAX | ||
0.81 | 0.9 | 0.78 | 0.69 | 0.69 | 0.85 | PBCAX | ||
0.93 | 0.71 | 0.95 | 0.91 | 0.69 | 0.91 | VSBIX | ||
0.96 | 0.75 | 0.96 | 0.79 | 0.85 | 0.91 | GSOIX | ||
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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 | 0.63 | 1.43 | |||
AUNTX | 0.12 | 0.00 | 0.23 | 0.00 | 0.16 | 0.28 | 0.76 | |||
RGVAX | 0.25 | 0.03 | 0.27 | 0.65 | 0.22 | 0.60 | 1.56 | |||
ATOAX | 0.02 | 0.00 | 0.00 | (0.07) | 0.00 | 0.00 | 0.30 | |||
PBCAX | 0.11 | (0.01) | 0.00 | 0.78 | 0.00 | 0.30 | 0.82 | |||
VSBIX | 0.06 | 0.01 | 0.88 | 7.94 | 0.00 | 0.16 | 0.33 | |||
GSOIX | 0.24 | 0.01 | 0.27 | (0.22) | 0.22 | 0.62 | 1.42 |