Spirit Of Correlations

SOAIX Fund

USD 10.24 0.04 0.39%

The current 90-days correlation between Spirit Of America and Spirit Of America is 0.4 (i.e., Very weak 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

Good diversification

The correlation between Spirit Of America and DJI is -0.06 (i.e., Good 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 gross domestic product.

Moving together with Spirit Mutual Fund

0.84	SACFX	Spirit Of America	Pair Corr
1.0	SACTX	Spirit Of America	Pair Corr
0.7	SOAAX	Spirit Of America	Pair Corr
0.87	SOAMX	Spirit Of America	Pair Corr
0.83	SOITX	Spirit Of America	Pair Corr
0.62	SOIAX	Spirit Of America	Pair Corr
0.87	SOIMX	Spirit Of America	Pair Corr
0.91	VWETX	Vanguard Long Term	Pair Corr
0.91	VWESX	Vanguard Long Term	Pair Corr
0.95	VBLAX	Vanguard Long Term	Pair Corr
0.91	VBLLX	Vanguard Long Term	Pair Corr
0.91	VBLIX	Vanguard Long Term	Pair Corr
0.91	SLDAX	Siit Long Duration	Pair Corr
0.9	VLTCX	Vanguard Long Term	Pair Corr
0.95	VLCIX	Vanguard Long Term	Pair Corr
0.9	PLRIX	Pimco Long Term	Pair Corr
0.9	PLRPX	Pimco Long Duration	Pair Corr
0.72	TROIX	T Rowe Price	Pair Corr
0.96	ACCBX	Invesco Porate Bond	Pair Corr
0.66	GERIX	Goldman Sachs Emerging	Pair Corr

Related Correlations Analysis

	SACFX	SACRX	SACTX	SACVX	SAIEX	SOAEX	SOAAX	SOAMX	SOAIX
SACFX		0.71	0.84	-0.05	0.0	0.0	0.73	0.93	0.84	SACFX
SACRX	0.71		0.62	0.49	0.17	0.17	0.82	0.57	0.6	SACRX
SACTX	0.84	0.62		-0.17	-0.04	-0.04	0.72	0.87	1.0	SACTX
SACVX	-0.05	0.49	-0.17		0.2	0.2	0.38	-0.21	-0.21	SACVX
SAIEX	0.0	0.17	-0.04	0.2		1.0	-0.05	-0.08	-0.02	SAIEX
SOAEX	0.0	0.17	-0.04	0.2	1.0		-0.05	-0.08	-0.02	SOAEX
SOAAX	0.73	0.82	0.72	0.38	-0.05	-0.05		0.68	0.7	SOAAX
SOAMX	0.93	0.57	0.87	-0.21	-0.08	-0.08	0.68		0.87	SOAMX
SOAIX	0.84	0.6	1.0	-0.21	-0.02	-0.02	0.7	0.87		SOAIX
	SACFX	SACRX	SACTX	SACVX	SAIEX	SOAEX	SOAAX	SOAMX	SOAIX

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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

SOAIX	+ 1.0	SACTX
SOAEX	+ 1.0	SAIEX
SOAMX	+ 0.93	SACFX
SOAMX	+ 0.87	SACTX
SOAIX	+ 0.87	SOAMX
SACTX	+ 0.84	SACFX

High negative correlations

SOAIX	- 0.21	SACVX
SOAMX	- 0.21	SACVX
SACVX	- 0.17	SACTX
SOAMX	- 0.08	SOAEX
SOAMX	- 0.08	SAIEX
SOAAX	- 0.05	SOAEX

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	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
SACFX	0.13	(0.02)	0.00	(0.86)	0.00	0.00	0.24	(0.35)	0.70
SACRX	0.83	(0.02)	0.00	(0.13)	0.00	0.00	1.64	(1.86)	4.71
SACTX	0.31	(0.03)	0.00	0.72	0.00	0.00	0.59	(0.59)	2.00
SACVX	0.98	(0.08)	0.00	(0.18)	0.00	0.00	1.48	(2.64)	4.86
SAIEX	0.98	0.11	0.10	0.08	1.36	(0.95)	1.89	(2.42)	4.71
SOAEX	0.99	0.11	0.10	0.08	1.38	(0.96)	1.80	(2.43)	4.58
SOAAX	0.83	(0.11)	0.00	0.31	0.00	0.00	1.62	(1.82)	4.73
SOAMX	0.14	(0.02)	0.00	1.05	0.00	0.00	0.24	(0.35)	0.71
SOAIX	0.31	(0.02)	0.00	0.78	0.00	0.00	0.59	(0.60)	2.00

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