Steward Funds Correlations

SJVAX Fund

USD 27.92 0.11 0.39%

The correlation of Steward Funds 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 Funds Correlation With Market

Significant diversification

The correlation between Steward Funds and DJI is 0.08 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Steward Funds 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 Funds . 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 Steward Mutual Fund

0.85	SCJAX	Steward Ered Call	Pair Corr
0.66	SGISX	Stewart Global Equity	Pair Corr
0.85	SJCIX	Steward Funds	Pair Corr
0.85	SJCRX	Steward Large Cap	Pair Corr
0.79	TRDFX	Steward Small Mid	Pair Corr
0.76	VVIAX	Vanguard Value Index	Pair Corr
0.77	VIVAX	Vanguard Value Index	Pair Corr

Moving against Steward Mutual Fund

0.5	SMNAX	Steward Equity Market	Pair Corr
0.47	SMNIX	Crossmark Steward Equity	Pair Corr
0.67	USPSX	Profunds Ultrashort	Pair Corr
0.66	USPIX	Profunds Ultrashort	Pair Corr
0.65	UIPIX	Ultrashort Mid Cap	Pair Corr
0.36	TDKTX	Cleartrack 2015 Class	Pair Corr
0.36	TCTJX	Transamerica Cleartrack	Pair Corr
0.35	TCTGX	Transamerica Cleartrack	Pair Corr

Related Correlations Analysis

	ABNTX	TBHDX	PRVBX	XMSDX	TAADX	GMDFX
ABNTX		0.91	0.96	0.91	0.96	0.95	ABNTX
TBHDX	0.91		0.91	0.81	0.89	0.83	TBHDX
PRVBX	0.96	0.91		0.88	0.93	0.93	PRVBX
XMSDX	0.91	0.81	0.88		0.88	0.94	XMSDX
TAADX	0.96	0.89	0.93	0.88		0.89	TAADX
GMDFX	0.95	0.83	0.93	0.94	0.89		GMDFX
	ABNTX	TBHDX	PRVBX	XMSDX	TAADX	GMDFX

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Risk-Adjusted Indicators

There is a big difference between Steward Mutual Fund performing well and Steward Funds 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 Funds' 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
ABNTX	0.16	0.02	0.40	1.57	0.00	(0.21)	0.30	(0.39)	0.99
TBHDX	0.55	0.12	0.24	0.28	0.54	(0.66)	1.29	(1.26)	4.47
PRVBX	0.10	0.01	0.70	(0.59)	0.00	(0.13)	0.23	(0.17)	0.53
XMSDX	0.25	(0.02)	0.00	(0.70)	0.00	0.00	0.51	(0.38)	3.67
TAADX	0.22	0.01	0.28	0.27	0.19	(0.28)	0.50	(0.38)	1.27
GMDFX	0.23	0.03	0.31	(3.14)	0.21	(0.27)	0.60	(0.40)	1.50

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