Steward Global Correlations

Mutual Funds . USA . 
Fund . Steward Global Equity
SGIFX Fund  USD 37.16  0.04  0.11%   
The current 90-days correlation between Steward Global Equity and Steward Small Mid Cap is 0.8 (i.e., Very poor diversification). The correlation of Steward Global 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 Global Correlation With Market

Poor diversification

The correlation between Steward Global Equity and DJI is 0.73 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Steward Global Equity 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 Global Equity. 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 census.

Moving together with Steward Mutual Fund

  0.61SSMOX Steward Small MidPairCorr
  0.66SCECX Steward Small MidPairCorr
  0.74SCJAX Steward Ered CallPairCorr
  0.74SCJCX Steward Ered CallPairCorr
  0.69SCJIX Steward Ered CallPairCorr
  0.74SEECX Steward Large CapPairCorr
  0.74SEEHX Steward Large CapPairCorr
  0.74SEEKX Steward Large CapPairCorr
  1.0SGIDX Steward Global EPairCorr
  1.0SGIGX Steward Global EquityPairCorr
  1.0SGISX Stewart Global EquityPairCorr
  0.7SJCIX Steward FundsPairCorr
  0.65SJCAX Steward Large CapPairCorr
  0.65SJCRX Steward Large CapPairCorr
  0.69SJGIX Steward Large CapPairCorr
  0.69SJGAX Steward Large CapPairCorr
  0.7SJVAX Steward FundsPairCorr
  0.7SJVIX Steward FundsPairCorr
  0.66TRDFX Steward Small MidPairCorr
  0.7TEDRX Franklin Mutual GlobalPairCorr
  0.73FMDRX Franklin Mutual GlobalPairCorr
  0.81DOXWX Dodge Cox GlobalPairCorr
  0.71DODWX Dodge Global StockPairCorr
  0.82TRZRX T Rowe PricePairCorr
  0.71TEDIX Franklin Mutual GlobalPairCorr
  0.72MDISX Franklin Mutual GlobalPairCorr

Moving against Steward Mutual Fund

  0.37KF Korea ClosedPairCorr

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   
SEECX
+ 0.95
SCECX
CHYYX
+ 0.67
SCECX
CHYYX
+ 0.64
SEECX
SEACX
+ 0.45
SNTCX
CHYYX
+ 0.24
SNTCX
  
High negative correlations   
SEACX
- 0.63
SEECX
SEACX
- 0.57
SCECX
SNTCX
- 0.1
SCECX
CHYYX
- 0.04
SEACX
SNTCX
- 0.01
SEECX

Risk-Adjusted Indicators

There is a big difference between Steward Mutual Fund performing well and Steward Global 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 Global'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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