Siit Extended Correlations

SMXAX Fund

USD 18.33 0.12 0.66%

The current 90-days correlation between Siit Extended Market and Old Westbury Municipal is 0.06 (i.e., Significant diversification). The correlation of Siit Extended 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.

Siit Extended Correlation With Market

Poor diversification

The correlation between Siit Extended Market and DJI is 0.67 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Siit Extended Market 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 Siit Extended Market. 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 Siit Mutual Fund

0.85	VIMAX	Vanguard Mid Cap	Pair Corr
0.85	VIMSX	Vanguard Mid Cap	Pair Corr
0.85	VMCPX	Vanguard Mid Cap	Pair Corr
0.82	VMCIX	Vanguard Mid Cap	Pair Corr
0.69	VEXAX	Vanguard Extended Market	Pair Corr
0.66	VEMPX	Vanguard Extended Market	Pair Corr
0.66	VIEIX	Vanguard Extended Market	Pair Corr
0.69	VSEMX	Vanguard Extended Market	Pair Corr
0.7	VEXMX	Vanguard Extended Market	Pair Corr
0.69	FSMAX	Fidelity Extended Market	Pair Corr
0.7	KNPAX	Kinetics Paradigm	Pair Corr
0.72	KSCOX	Kinetics Small Cap	Pair Corr
0.69	KNPYX	Kinetics Paradigm	Pair Corr
0.74	LSHUX	Horizon Spin Off	Pair Corr
0.71	KNPCX	Kinetics Paradigm	Pair Corr
0.75	LSHCX	Horizon Spin Off	Pair Corr
0.7	WWNPX	Kinetics Paradigm	Pair Corr
0.74	LSHAX	Horizon Spin Off	Pair Corr
0.64	HPQ	HP Inc	Pair Corr
0.78	CAT	Caterpillar Fiscal Year End 3rd of February 2025	Pair Corr
0.73	TRV	The Travelers Companies	Pair Corr
0.64	DD	Dupont De Nemours Fiscal Year End 4th of February 2025	Pair Corr
0.62	INTC	Intel Earnings Call This Week	Pair Corr
0.82	AA	Alcoa Corp	Pair Corr

Moving against Siit Mutual Fund

0.63	BA	Boeing Fiscal Year End 29th of January 2025	Pair Corr
0.47	PFE	Pfizer Inc Fiscal Year End 4th of February 2025	Pair Corr

Related Correlations Analysis

	OWMBX	RYAQX	ACASX	FCSCX	MDMTX	PRINX	SSAGX
OWMBX		-0.59	0.78	0.14	0.96	0.94	0.05	OWMBX
RYAQX	-0.59		-0.9	0.59	-0.56	-0.56	0.68	RYAQX
ACASX	0.78	-0.9		-0.25	0.74	0.7	-0.37	ACASX
FCSCX	0.14	0.59	-0.25		0.18	0.16	0.98	FCSCX
MDMTX	0.96	-0.56	0.74	0.18		0.98	0.11	MDMTX
PRINX	0.94	-0.56	0.7	0.16	0.98		0.1	PRINX
SSAGX	0.05	0.68	-0.37	0.98	0.11	0.1		SSAGX
	OWMBX	RYAQX	ACASX	FCSCX	MDMTX	PRINX	SSAGX

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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

SSAGX	+ 0.98	FCSCX
PRINX	+ 0.98	MDMTX
MDMTX	+ 0.96	OWMBX
PRINX	+ 0.94	OWMBX
ACASX	+ 0.78	OWMBX
MDMTX	+ 0.74	ACASX

High negative correlations

ACASX	- 0.9	RYAQX
RYAQX	- 0.59	OWMBX
PRINX	- 0.56	RYAQX
MDMTX	- 0.56	RYAQX
SSAGX	- 0.37	ACASX
FCSCX	- 0.25	ACASX

Risk-Adjusted Indicators

There is a big difference between Siit Mutual Fund performing well and Siit Extended 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 Siit Extended'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	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
OWMBX	0.13	(0.02)	0.00	(0.91)	0.00	0.00	0.26	(0.53)	1.05
RYAQX	0.67	0.12	0.11	(0.71)	0.68	(0.77)	1.52	(1.32)	5.22
ACASX	0.29	(0.04)	0.00	(0.34)	0.00	0.00	0.66	(0.79)	1.87
FCSCX	0.05	0.00	(0.14)	0.01	0.00	(0.29)	0.13	(0.13)	0.67
MDMTX	0.21	(0.02)	0.00	(0.22)	0.00	0.00	0.48	(0.57)	1.72
PRINX	0.22	(0.02)	0.00	(0.29)	0.00	0.00	0.45	(0.53)	1.60
SSAGX	0.05	0.01	(0.11)	0.74	0.00	(0.22)	0.10	(0.10)	0.51

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