Steward Large Correlations

Mutual Funds . USA . 
Fund . Steward Large Cap
SJCRX Fund   28.72  0.34  1.20%   
The current 90-days correlation between Steward Large Cap and Fwnhtx is -0.07 (i.e., Good diversification). The correlation of Steward Large 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 Large Correlation With Market

Significant diversification

The correlation between Steward Large Cap and DJI is 0.09 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Steward Large Cap 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 Large Cap. 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 metropolitan statistical area.

Moving together with Steward Mutual Fund

  0.99SCJAX Steward Ered CallPairCorr
  0.99SCJCX Steward Ered CallPairCorr
  0.9SEEHX Steward Large CapPairCorr
  1.0SJCIX Steward FundsPairCorr
  0.91SJCAX Steward Large CapPairCorr
  0.96SJGIX Steward Large CapPairCorr
  0.88SJVAX Steward FundsPairCorr
  0.88SJVIX Steward FundsPairCorr
  0.66VITSX Vanguard Total StockPairCorr
  0.66VSMPX Vanguard Total StockPairCorr
  0.66VSTSX Vanguard Total StockPairCorr
  0.68VFFSX Vanguard 500 IndexPairCorr
  0.68CISGX Touchstone Sands CapitalPairCorr

Moving against Steward Mutual Fund

  0.46SMNIX Crossmark Steward EquityPairCorr
  0.37SEAKX Steward Select BondPairCorr
  0.35SEACX Steward Select BondPairCorr
  0.56PAIBX T Rowe PricePairCorr
  0.54SNTKX Steward InternationalPairCorr
  0.41IRCYX International Small CapPairCorr

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   
FFCGX
+ 0.91
HDCAX
HDCAX
+ 0.79
FZNOPX
FFCGX
+ 0.69
FZNOPX
FFCGX
+ 0.54
RPBAX
FSULTX
+ 0.52
FWNHTX
HDCAX
+ 0.44
FWNHTX
  
High negative correlations   
FSULTX
- 0.34
FZNOPX
HDCAX
- 0.12
FSULTX
OPTCX
- 0.07
FZNOPX

Risk-Adjusted Indicators

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