Spirit Of Correlations

SOITX Fund

USD 10.33 0.05 0.48%

The current 90-days correlation between Spirit Of America and Gmo Global Equity is 0.14 (i.e., Average 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

Significant diversification

The correlation between Spirit Of America and DJI is 0.06 (i.e., Significant 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 estimate.

Moving together with Spirit Mutual Fund

1.0	SACTX	Spirit Of America	Pair Corr
0.98	SOAIX	Spirit Of America	Pair Corr
0.85	VWETX	Vanguard Long Term	Pair Corr
0.92	VWESX	Vanguard Long Term	Pair Corr
0.9	VBLAX	Vanguard Long Term	Pair Corr
0.9	VBLLX	Vanguard Long Term	Pair Corr
0.9	VBLIX	Vanguard Long Term	Pair Corr
0.91	SLDAX	Siit Long Duration	Pair Corr
0.85	VLTCX	Vanguard Long Term	Pair Corr
0.92	VLCIX	Vanguard Long Term	Pair Corr
0.89	PLRIX	Pimco Long Term	Pair Corr
0.9	PLRPX	Pimco Long Duration	Pair Corr
0.8	BXECX	Barings Emerging Markets	Pair Corr
0.8	BXEIX	Barings Emerging Markets	Pair Corr
0.8	BXEAX	Barings Emerging Markets	Pair Corr
0.81	HLDIX	Hartford Emerging	Pair Corr
0.81	HLDRX	Hartford Emerging	Pair Corr
0.81	HLDAX	Hartford Emerging	Pair Corr
0.81	HLDCX	Hartford Emerging	Pair Corr
0.78	HLDTX	Hartford Emerging	Pair Corr

Moving against Spirit Mutual Fund

0.6	SACVX	Spirit Of America	Pair Corr
0.6	SOAVX	Spirit Of America	Pair Corr
0.6	SOIVX	Spirit Of America	Pair Corr
0.47	SOAEX	Spirit Of America	Pair Corr
0.61	VMFXX	Vanguard Federal Money	Pair Corr
0.58	ITYYX	Invesco Technology	Pair Corr
0.57	TORIX	Tortoise Mlp Pipeline	Pair Corr
0.32	ETW	Eaton Vance Tax	Pair Corr

Related Correlations Analysis

	GMADX	FBMPX	AECXX	NIEYX	SILLX	HULEX
GMADX		0.03	0.0	0.68	0.09	-0.04	GMADX
FBMPX	0.03		0.0	-0.58	0.9	0.85	FBMPX
AECXX	0.0	0.0		0.0	0.0	0.0	AECXX
NIEYX	0.68	-0.58	0.0		-0.59	-0.69	NIEYX
SILLX	0.09	0.9	0.0	-0.59		0.93	SILLX
HULEX	-0.04	0.85	0.0	-0.69	0.93		HULEX
	GMADX	FBMPX	AECXX	NIEYX	SILLX	HULEX

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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

HULEX	+ 0.93	SILLX
SILLX	+ 0.9	FBMPX
HULEX	+ 0.85	FBMPX
NIEYX	+ 0.68	GMADX
SILLX	+ 0.09	GMADX
FBMPX	+ 0.03	GMADX

High negative correlations

HULEX	- 0.69	NIEYX
SILLX	- 0.59	NIEYX
NIEYX	- 0.58	FBMPX
HULEX	- 0.04	GMADX
HULEX	- 0.0	AECXX
SILLX	- 0.0	AECXX

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
GMADX	0.47	0.02	(0.10)	0.28	0.53	(0.51)	0.89	(0.97)	2.98
FBMPX	0.75	0.31	0.23	(2.92)	0.52	(0.84)	1.74	(1.61)	4.09
AECXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NIEYX	0.67	(0.03)	0.00	7.48	0.00	0.00	1.12	(1.34)	4.25
SILLX	0.50	0.05	0.03	0.17	0.46	(0.56)	1.44	(1.01)	3.17
HULEX	0.59	0.10	0.03	0.91	0.39	(0.76)	1.36	(0.91)	5.17

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