Spirit Of Correlations

SOAEX Fund  USD 12.03  0.30  2.43%   
The current 90-days correlation between Spirit Of America and Franklin Moderate Allocation is 0.21 (i.e., Modest diversification). The correlation of Spirit Of 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.

Spirit Of Correlation With Market

Average diversification

The correlation between Spirit Of America and DJI is 0.13 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Spirit Of America 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 Spirit Of America. 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 income.

Moving together with Spirit Mutual Fund

  1.0SACEX Spirit Of AmericaPairCorr
  0.91SAIEX Spirit Of AmericaPairCorr
  0.69SOAUX Spirit Of AmericaPairCorr
  0.68SOCUX Spirit Of AmericaPairCorr
  0.69SOIUX Spirit Of AmericaPairCorr
  0.97TORCX Tortoise Mlp PipelinePairCorr
  0.92MLPTX Oppenheimer Steelpath MlpPairCorr
  0.86OSPSX Oppenheimer Steelpath MlpPairCorr
  0.87MLPZX Oppenheimer Steelpath MlpPairCorr
  0.78OSPMX Oppenheimer Steelpath MlpPairCorr
  0.78MLPDX Oppenheimer Steelpath MlpPairCorr
  0.71MLPRX Oppenheimer Steelpath MlpPairCorr
  0.85GMLPX Goldman Sachs MlpPairCorr
  0.85GLPIX Goldman Sachs MlpPairCorr
  0.85GLPRX Goldman Sachs MlpPairCorr
  0.73CIF Mfs Intermediate HighPairCorr
  0.61XPPRX Voya Prime RatePairCorr
  0.69PCF Putnam High IncomePairCorr
  0.71ASHIX Allianzgi Short DurationPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Spirit Mutual Fund performing well and Spirit Of 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 Spirit Of'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.