Snow Capital Correlations

SNOIX Fund

USD 32.07 0.30 0.94%

The current 90-days correlation between Snow Capital Opportunity and Gabelli Global Financial is 0.71 (i.e., Poor diversification). The correlation of Snow Capital 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.

Snow Capital Correlation With Market

Poor diversification

The correlation between Snow Capital Opportunity and DJI is 0.75 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Snow Capital Opportunity 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 Snow Capital Opportunity. 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 gross domestic product.

Moving together with Snow Mutual Fund

1.0	SNOAX	Snow Capital Opportunity	Pair Corr
1.0	SNOCX	Snow Capital Opportunity	Pair Corr
0.73	SNWAX	Snow Capital Small	Pair Corr
0.69	SNWCX	Snow Capital Small	Pair Corr
0.73	SNWIX	Snow Capital Small	Pair Corr
0.61	CSJZX	Cohen Steers Realty	Pair Corr
0.61	CSRSX	Cohen Steers Realty	Pair Corr
0.81	TWQAX	Transamerica Large Cap	Pair Corr
0.75	ARGFX	Ariel Fund Investor	Pair Corr

Related Correlations Analysis

	GCFSX	RPFGX	VFAIX	MCBXX	FIKBX	BTO
GCFSX		0.96	0.95	0.0	0.96	0.94	GCFSX
RPFGX	0.96		0.95	0.0	0.95	0.95	RPFGX
VFAIX	0.95	0.95		0.0	0.99	0.99	VFAIX
MCBXX	0.0	0.0	0.0		0.0	0.0	MCBXX
FIKBX	0.96	0.95	0.99	0.0		0.98	FIKBX
BTO	0.94	0.95	0.99	0.0	0.98		BTO
	GCFSX	RPFGX	VFAIX	MCBXX	FIKBX	BTO

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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

FIKBX	+ 0.99	VFAIX
BTO	+ 0.99	VFAIX
BTO	+ 0.98	FIKBX
RPFGX	+ 0.96	GCFSX
FIKBX	+ 0.96	GCFSX
VFAIX	+ 0.95	GCFSX

High negative correlations

BTO	- 0.0	MCBXX
FIKBX	- 0.0	MCBXX
MCBXX	- 0.0	VFAIX
MCBXX	- 0.0	RPFGX
MCBXX	- 0.0	GCFSX

Risk-Adjusted Indicators

There is a big difference between Snow Mutual Fund performing well and Snow Capital 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 Snow Capital'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
GCFSX	0.59	(0.01)	(0.01)	0.01	0.73	(0.77)	1.47	(1.30)	6.18
RPFGX	0.81	0.00	0.00	0.02	1.11	(0.90)	1.33	(1.40)	10.37
VFAIX	0.77	0.07	0.07	0.07	0.89	(0.85)	1.77	(1.34)	10.75
MCBXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
FIKBX	0.84	0.02	0.02	0.04	1.06	(0.95)	1.88	(1.41)	11.23
BTO	1.04	0.07	0.06	0.06	1.30	(1.06)	2.03	(1.71)	13.54

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