Simt Tax-managed Correlations

Mutual Funds . USA . 
Fund . Simt Tax Managed Smallmid
STMSX Fund  USD 30.22  0.07  0.23%   
The current 90-days correlation between Simt Tax Managed and T Rowe Price is 0.61 (i.e., Poor diversification). The correlation of Simt Tax-managed 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.

Simt Tax-managed Correlation With Market

Almost no diversification

The correlation between Simt Tax Managed Smallmid and DJI is 0.91 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Simt Tax Managed Smallmid 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 Simt Tax Managed Smallmid. 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 state.

Moving together with Simt Mutual Fund

  0.69SRWAX Saat Market GrowthPairCorr
  0.99SSCGX Simt Small CapPairCorr
  0.79SSGAX Saat Aggressive StrategyPairCorr
  0.78SASDX Saat Aggressive StrategyPairCorr
  0.99SSMAX Siit Small MidPairCorr
  0.73TFCAX Tax Free ConservativePairCorr
  0.76TFCYX Tax Free ConservativePairCorr
  0.93SSPIX Simt Sp 500PairCorr
  0.83STDAX Saat Defensive StrategyPairCorr
  0.82ENIAX Siit Opportunistic IncomePairCorr
  0.93STLYX Simt Tax ManagedPairCorr
  1.0STMPX Simt Tax ManagedPairCorr
  0.85STVYX Simt Tax ManagedPairCorr
  0.95SCPAX Siit Large CapPairCorr
  0.97SUSYX Simt Managed VolatilityPairCorr
  0.66SUSAX Siit Ultra ShortPairCorr
  0.92SDLAX Siit Dynamic AssetPairCorr
  0.97SVAYX Simt Large CapPairCorr
  0.92SDYAX Simt Dynamic AssetPairCorr
  0.97SVOAX Simt Managed VolatilityPairCorr
  0.92SDYYX Simt Dynamic AssetPairCorr
  0.79SEAIX Saat Aggressive StrategyPairCorr

Moving against Simt Mutual Fund

  0.7SCFYX Simt E FixedPairCorr
  0.7CFVAX Catholic Values FixedPairCorr
  0.7SCOAX Siit E FixedPairCorr
  0.7CFVYX Catholic Values FixedPairCorr
  0.7SCXIX Sei Insti MgdPairCorr
  0.41SBDAX Stet California MunicipalPairCorr
  0.7SEGMX Sdit Gnma FundPairCorr
  0.46SEEIX Sei Instit InternationalPairCorr
  0.45SEFCX Sit International EquityPairCorr
  0.4SCYYX Stet California MunicipalPairCorr
  0.37SEDAX Siit Emerging MarketsPairCorr
  0.36SDGFX Sdit Short DurationPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Simt Mutual Fund performing well and Simt Tax-managed 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 Simt Tax-managed'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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