Snow Capital Correlations

Mutual Funds . USA . 
Fund . Snow Capital Small
SNWIX Fund  USD 60.84  0.60  1.00%   
The current 90-days correlation between Snow Capital Small and Snow Capital Opportunity is 0.83 (i.e., Very 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

Very poor diversification

The correlation between Snow Capital Small and DJI is 0.88 (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 gross domestic product.

Moving together with Snow Mutual Fund

  0.74SNOAX Snow Capital OpportunityPairCorr
  0.76SNOCX Snow Capital OpportunityPairCorr
  0.73SNOIX Snow Capital OpportunityPairCorr
  1.0SNWAX Snow Capital SmallPairCorr
  1.0SNWCX Snow Capital SmallPairCorr
  0.97VSIIX Vanguard Small CapPairCorr
  0.97VISVX Vanguard Small CapPairCorr
  0.96DFSVX Us Small CapPairCorr
  0.95DFFVX Us Targeted ValuePairCorr
  0.96UBVCX Undiscovered ManagersPairCorr
  0.96UBVAX Undiscovered ManagersPairCorr
  0.97UBVSX Undiscovered ManagersPairCorr
  0.96AVFIX American Beacon SmallPairCorr
  0.86WWNPX Kinetics ParadigmPairCorr
  0.84KMKCX Kinetics Market OppoPairCorr
  0.87LSHCX Horizon Spin OffPairCorr
  0.86KNPCX Kinetics ParadigmPairCorr
  0.87LSHUX Horizon Spin OffPairCorr
  0.86KNPAX Kinetics ParadigmPairCorr
  0.84KMKAX Kinetics Market OppoPairCorr
  0.86KNPYX Kinetics ParadigmPairCorr
  0.63FGB First Trust SpecialtyPairCorr
  0.7MXBQX Great West LifetimePairCorr
  0.86TEGYX Mid Cap GrowthPairCorr
  0.91LAWAX Ladenburg AggressivePairCorr
  0.94GLACX Power Global TacticalPairCorr
  0.71TGHYX Tcw High YieldPairCorr
  0.88CNSAX Invesco Vertible SecPairCorr
  0.93FMIUX Common StockPairCorr
  0.79VFINX Vanguard 500 IndexPairCorr
  0.66FBIFX Fidelity Freedom IndexPairCorr

Moving against Snow Mutual Fund

  0.34DFTPX Dfa Target ValuePairCorr
  0.34DFTVX Dfa Inv DimensionsPairCorr

Related Correlations Analysis

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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.

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