Stet California Correlations

SCYYX Fund

USD 10.05 0.04 0.40%

The current 90-days correlation between Stet California Municipal and Transamerica Financial Life is 0.24 (i.e., Modest diversification). The correlation of Stet California 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.

Stet California Correlation With Market

Significant diversification

The correlation between Stet California Municipal and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Stet California Municipal 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 Stet California Municipal. 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 manufacturing.

Moving together with Stet Mutual Fund

0.69	SSEAX	Siit Screened World	Pair Corr
0.67	TFCAX	Tax Free Conservative	Pair Corr
0.65	TFCYX	Tax Free Conservative	Pair Corr
1.0	SBDAX	Stet California Municipal	Pair Corr
0.68	ENIAX	Siit Opportunistic Income	Pair Corr
0.7	STVYX	Simt Tax Managed	Pair Corr
0.78	SCFYX	Simt E Fixed	Pair Corr
0.64	SCMSX	Saat E Market	Pair Corr
0.7	SCLAX	Simt Multi Asset	Pair Corr
0.77	SCOAX	Siit E Fixed	Pair Corr
0.77	SCXIX	Sei Insti Mgd	Pair Corr
0.62	SUSYX	Simt Managed Volatility	Pair Corr
0.71	SUSAX	Siit Ultra Short	Pair Corr
0.68	SDGFX	Sdit Short Duration	Pair Corr
0.62	SVOAX	Simt Managed Volatility	Pair Corr
0.74	SVSAX	Saat Servative Strategy	Pair Corr
0.75	SEDIX	Saat Defensive Strategy	Pair Corr
0.74	SECPX	Sdit Ultra Short	Pair Corr
0.66	RRPAX	Siit Real Return	Pair Corr
0.75	SEDAX	Siit Emerging Markets	Pair Corr
0.73	SECYX	Sdit Ultra Short	Pair Corr
0.76	SEFIX	Sit International Fixed	Pair Corr
0.64	SVYAX	Siit Managed Volatility	Pair Corr
0.68	SEEIX	Sei Instit International	Pair Corr
0.68	SEFCX	Sit International Equity	Pair Corr
0.61	SEIAX	Siit Multi Asset	Pair Corr

Moving against Stet Mutual Fund

0.38	SSMAX	Siit Small Mid	Pair Corr
0.38	STMPX	Simt Tax Managed	Pair Corr
0.38	STMSX	Simt Tax Managed	Pair Corr
0.37	SECAX	Siit Small Cap	Pair Corr
0.42	SESVX	Simt Small Cap	Pair Corr

Related Correlations Analysis

	IAAEX	ARSVX	ARSMX	ESCIX	FCPVX	PRSVX	ASVIX
IAAEX		0.27	0.34	0.13	0.18	0.34	0.18	IAAEX
ARSVX	0.27		0.99	0.45	0.95	0.95	0.94	ARSVX
ARSMX	0.34	0.99		0.46	0.92	0.95	0.92	ARSMX
ESCIX	0.13	0.45	0.46		0.52	0.54	0.52	ESCIX
FCPVX	0.18	0.95	0.92	0.52		0.91	0.99	FCPVX
PRSVX	0.34	0.95	0.95	0.54	0.91		0.92	PRSVX
ASVIX	0.18	0.94	0.92	0.52	0.99	0.92		ASVIX
	IAAEX	ARSVX	ARSMX	ESCIX	FCPVX	PRSVX	ASVIX

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Risk-Adjusted Indicators

There is a big difference between Stet Mutual Fund performing well and Stet California 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 Stet California'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	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
IAAEX	0.81	(0.12)	0.99	0.00	0.00	1.41	(1.48)	9.17
ARSVX	0.71	(0.08)	0.70	0.00	0.00	1.47	(1.52)	3.39
ARSMX	0.72	(0.07)	0.85	0.00	0.00	1.17	(1.37)	3.08
ESCIX	0.72	(0.01)	(0.01)	0.98	(0.75)	1.87	(1.88)	4.56
FCPVX	0.82	(0.06)	(0.06)	0.00	0.00	1.70	(1.88)	4.29
PRSVX	0.83	(0.11)	0.85	0.00	0.00	1.62	(2.04)	4.20
ASVIX	0.82	(0.05)	(0.05)	0.00	0.00	1.72	(2.21)	4.45

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