Snow Capital Correlations

SNWCX Fund

USD 52.60 0.41 0.77%

The current 90-days correlation between Snow Capital Small and Prudential Short Duration is 0.09 (i.e., Significant 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

Very poor diversification

The correlation between Snow Capital Small and DJI is 0.87 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Snow Capital Small 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 Small. 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 main economic indicators.

Moving together with Snow Mutual Fund

0.7	SNOAX	Snow Capital Opportunity	Pair Corr
0.72	SNOCX	Snow Capital Opportunity	Pair Corr
0.69	SNOIX	Snow Capital Opportunity	Pair Corr
1.0	SNWAX	Snow Capital Small	Pair Corr
1.0	SNWIX	Snow Capital Small	Pair Corr
0.98	VSIIX	Vanguard Small Cap	Pair Corr
0.98	VISVX	Vanguard Small Cap	Pair Corr
0.97	DFSVX	Us Small Cap	Pair Corr
0.96	DFFVX	Us Targeted Value	Pair Corr
0.95	UBVCX	Undiscovered Managers	Pair Corr
0.96	UBVAX	Undiscovered Managers	Pair Corr
0.96	UBVSX	Undiscovered Managers	Pair Corr
0.97	AVFIX	American Beacon Small	Pair Corr
0.86	WWNPX	Kinetics Paradigm	Pair Corr
0.84	KMKCX	Kinetics Market Oppo	Pair Corr
0.87	LSHCX	Horizon Spin Off	Pair Corr
0.86	KNPCX	Kinetics Paradigm	Pair Corr
0.87	LSHUX	Horizon Spin Off	Pair Corr
0.86	KNPAX	Kinetics Paradigm	Pair Corr
0.84	KMKAX	Kinetics Market Oppo	Pair Corr
0.86	KNPYX	Kinetics Paradigm	Pair Corr
0.66	FGB	First Trust Specialty	Pair Corr
0.71	MXBQX	Great West Lifetime	Pair Corr
0.88	TEGYX	Mid Cap Growth	Pair Corr
0.93	LAWAX	Ladenburg Aggressive	Pair Corr
0.94	GLACX	Power Global Tactical	Pair Corr
0.73	TGHYX	Tcw High Yield	Pair Corr
0.89	CNSAX	Invesco Vertible Sec	Pair Corr
0.95	FMIUX	Common Stock	Pair Corr
0.82	VFINX	Vanguard 500 Index	Pair Corr
0.68	FBIFX	Fidelity Freedom Index	Pair Corr

Related Correlations Analysis

	HYSZX	SUSAX	ASCLX	LOLDX	TAAQX	RSDIX
HYSZX		0.33	0.43	0.62	0.6	0.35	HYSZX
SUSAX	0.33		0.08	0.32	-0.07	0.38	SUSAX
ASCLX	0.43	0.08		-0.11	-0.1	-0.27	ASCLX
LOLDX	0.62	0.32	-0.11		0.82	0.81	LOLDX
TAAQX	0.6	-0.07	-0.1	0.82		0.66	TAAQX
RSDIX	0.35	0.38	-0.27	0.81	0.66		RSDIX
	HYSZX	SUSAX	ASCLX	LOLDX	TAAQX	RSDIX

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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

TAAQX	+ 0.82	LOLDX
RSDIX	+ 0.81	LOLDX
RSDIX	+ 0.66	TAAQX
LOLDX	+ 0.62	HYSZX
TAAQX	+ 0.6	HYSZX
ASCLX	+ 0.43	HYSZX

High negative correlations

RSDIX	- 0.27	ASCLX
LOLDX	- 0.11	ASCLX
TAAQX	- 0.1	ASCLX
TAAQX	- 0.07	SUSAX

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
HYSZX	0.09	(0.02)	0.00	(0.80)	0.00	0.00	0.24	(0.24)	0.83
SUSAX	0.05	0.00	(0.23)	0.73	0.00	(0.14)	0.10	(0.10)	0.50
ASCLX	0.46	(0.09)	0.00	(0.12)	0.00	0.00	0.74	(0.93)	8.96
LOLDX	0.05	(0.01)	0.00	3.22	0.00	0.00	0.26	(0.26)	0.78
TAAQX	0.07	(0.02)	0.00	(0.98)	0.00	0.00	0.10	(0.10)	0.81
RSDIX	0.08	(0.01)	(0.23)	(3.97)	0.09	(0.16)	0.21	(0.10)	0.72

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