Spirit Of Correlations

SOAEX Fund

USD 12.37 0.14 1.12%

The current 90-days correlation between Spirit Of America and Goldman Sachs Smallmid is 0.68 (i.e., Poor 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

Very weak diversification

The correlation between Spirit Of America and DJI is 0.44 (i.e., Very weak 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

1.0	SACEX	Spirit Of America	Pair Corr
1.0	SAIEX	Spirit Of America	Pair Corr
0.98	TORCX	Tortoise Mlp Pipeline	Pair Corr
0.92	MLPTX	Oppenheimer Steelpath Mlp	Pair Corr
0.92	OSPSX	Oppenheimer Steelpath Mlp	Pair Corr
0.82	MLPZX	Oppenheimer Steelpath Mlp	Pair Corr
0.83	OSPMX	Oppenheimer Steelpath Mlp	Pair Corr
0.83	MLPDX	Oppenheimer Steelpath Mlp	Pair Corr
0.83	MLPRX	Oppenheimer Steelpath Mlp	Pair Corr
0.91	GMLPX	Goldman Sachs Mlp	Pair Corr
0.62	GLPIX	Goldman Sachs Mlp	Pair Corr
0.62	GLPRX	Goldman Sachs Mlp	Pair Corr

Related Correlations Analysis

	GMVIX	OWSMX	ARTSX	DFUKX	SECAX
GMVIX		0.71	0.98	-0.2	0.9	GMVIX
OWSMX	0.71		0.7	0.42	0.83	OWSMX
ARTSX	0.98	0.7		-0.16	0.89	ARTSX
DFUKX	-0.2	0.42	-0.16		0.07	DFUKX
SECAX	0.9	0.83	0.89	0.07		SECAX
	GMVIX	OWSMX	ARTSX	DFUKX	SECAX

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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

ARTSX	+ 0.98	GMVIX
SECAX	+ 0.9	GMVIX
SECAX	+ 0.89	ARTSX
SECAX	+ 0.83	OWSMX
OWSMX	+ 0.71	GMVIX
ARTSX	+ 0.7	OWSMX

High negative correlations

DFUKX	- 0.2	GMVIX
DFUKX	- 0.16	ARTSX

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.

	Mean Deviation	Jensen Alpha	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
GMVIX	0.87	(0.10)	(0.18)	1.46	(2.11)	4.04
OWSMX	0.68	(0.06)	(0.17)	1.19	(1.37)	3.89
ARTSX	1.16	(0.10)	(0.17)	2.22	(3.17)	5.69
DFUKX	0.81	(0.04)	0.15	1.96	(2.04)	6.05
SECAX	1.06	(0.22)	(0.29)	1.46	(2.57)	11.65

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