Sit Tax Correlations

Mutual Funds . USA . 
Fund . Sit Tax Free Income
SNTYX Fund  USD 8.63  0.03  0.35%   
The current 90-days correlation between Sit Tax Free and Sit Small Cap is 0.25 (i.e., Modest diversification). The correlation of Sit Tax 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.

Sit Tax Correlation With Market

Average diversification

The correlation between Sit Tax Free Income and DJI is 0.12 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sit Tax Free Income 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 Sit Tax Free Income. 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 manufacturing.

Moving together with Sit Mutual Fund

  0.61SSCDX Sit Small CapPairCorr
  0.62SESGX Sit Esg GrowthPairCorr
  0.63NBNGX Sit Mid CapPairCorr
  0.62IESGX Sit Esg GrowthPairCorr
  0.99SMTFX Sit Minnesota TaxPairCorr
  0.79SNGVX Sit U SPairCorr
  0.62SNGYX Sit Government SecuritiesPairCorr
  0.83SNTIX Sit Tax FreePairCorr
  0.81SQIYX Sit Mutual FundsPairCorr
  0.86SQIFX Sit Quality IncomePairCorr
  0.84VWITX Vanguard IntermediatePairCorr
  0.88VWIUX Vanguard Intermediate-terPairCorr
  0.99AFTEX Tax Exempt BondPairCorr
  0.81AFTFX Tax Exempt BondPairCorr
  0.83TEBCX Tax Exempt BondPairCorr
  0.81TEAFX Tax Exempt BondPairCorr
  0.85TFEBX Tax Exempt BondPairCorr
  0.85FLTMX Fidelity IntermediatePairCorr
  0.98MDNLX Blackrock NationalPairCorr
  0.97MFNLX Blackrock Natl MuniPairCorr
  0.71XDSMX Dreyfus StrategicPairCorr
  0.61CIF Mfs Intermediate HighPairCorr
  0.69XNXJX Nuveen New JerseyPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Sit Mutual Fund performing well and Sit Tax 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 Sit Tax'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
SSCDX  0.78 (0.04) 0.00 (0.22) 0.00 
 0.00 
 1.65 
(1.36)
 8.51 
GDGIX  0.59 (0.02) 0.00 (0.09) 0.00 
 0.00 
 1.01 
(1.50)
 4.16 
GDGSX  0.59 (0.02) 0.00 (0.09) 0.00 
 0.00 
 1.01 
(1.54)
 4.09 
SSMGX  0.88 (0.09) 0.00 (0.14) 0.00 
 0.00 
 1.55 
(1.92)
 8.76 
SDFSX  0.80 (0.05) 0.00 (0.14) 0.00 
 0.00 
 1.65 
(1.98)
 8.51 
SDMGX  0.80 (0.18) 0.00 (0.43) 0.00 
 0.00 
 1.21 
(2.22)
 5.88 
SDVSX  0.67 (0.15) 0.00 (16.87) 0.00 
 0.00 
 0.92 
(1.14)
 12.49 
SDVGX  0.67 (0.14) 0.00 (75.36) 0.00 
 0.00 
 0.97 
(1.13)
 12.46 
SESGX  0.56  0.00  0.01 (0.03) 0.89 
(0.52)
 1.06 
(1.43)
 3.90 
NBNGX  0.84  0.02  0.02  0.03  1.46 
(0.76)
 1.52 
(1.76)
 7.33 

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