Financial Services Correlations

Mutual Funds . USA . 
Fund . Financial Services Portfolio
SFPAX Fund  USD 10.38  0.05  0.48%   
The current 90-days correlation between Financial Services and Morgan Stanley Government is 0.14 (i.e., Average diversification). The correlation of Financial Services 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.

Financial Services Correlation With Market

Very poor diversification

The correlation between Financial Services Portfolio and DJI is 0.86 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Financial Services Portfolio 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 Financial Services Portfolio. 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 Financial Mutual Fund

  0.91SABAX Salient Alternative BetaPairCorr
  0.91SABIX Aggressive BalancedPairCorr
  0.9SABCX Salient Alternative BetaPairCorr
  0.92SAMAX Moderately AggressivePairCorr
  0.91SAMCX Salient Mlp FundPairCorr
  0.92SAMIX Moderately AggressivePairCorr
  0.63SSCCX Small CapitalizationPairCorr
  0.64SSCPX Small CapitalizationPairCorr
  0.64SSCYX Small CapitalizationPairCorr
  0.91SBCCX Moderately ConservativePairCorr
  0.91SBMCX Moderate BalancedPairCorr
  0.92SBMIX Moderate BalancedPairCorr
  0.8STPAX Technology CommunicationsPairCorr
  0.79STPCX Technology CommunicationsPairCorr
  0.78STPIX Technology CommunicationsPairCorr
  0.96SCAAX Conservative BalancedPairCorr
  0.96SUMCX Conservative BalancedPairCorr
  1.0SFPCX Financial ServicesPairCorr
  1.0SFPIX Financial ServicesPairCorr
  0.82SLCGX Large CapitalizationPairCorr
  0.95SLCVX Large Cap ValuePairCorr
  0.81SLGCX Large CapitalizationPairCorr
  0.81SLGYX Large CapitalizationPairCorr
  0.94SLVCX Large Cap ValuePairCorr
  0.94SLVYX Large Cap ValuePairCorr
  0.92SMACX Moderately ConservativePairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Financial Mutual Fund performing well and Financial Services 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 Financial Services' 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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