Smead Value Correlations

SVFCX Fund

USD 73.46 0.42 0.57%

The current 90-days correlation between Smead Value Fund and Absolute Convertible Arbitrage is 0.34 (i.e., Weak diversification). The correlation of Smead Value 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.

Smead Value Correlation With Market

Poor diversification

The correlation between Smead Value Fund and DJI is 0.7 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Smead Value Fund 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 Smead Value Fund. 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 main economic indicators.

Moving together with Smead Mutual Fund

1.0	SVFAX	Smead Value Fund	Pair Corr
1.0	SVFKX	Smead Value Fund	Pair Corr
1.0	SVFDX	Smead Value Fund	Pair Corr
1.0	SVFFX	Smead Value Fund	Pair Corr
1.0	SVFYX	Smead Value Fund	Pair Corr
1.0	SMVLX	Smead Value Fund	Pair Corr
0.91	ASG	Liberty All Star	Pair Corr
0.87	CII	Blackrock Enhanced	Pair Corr
0.86	ETV	Eaton Vance Tax	Pair Corr
0.84	CLM	Cornerstone Strategic Potential Growth	Pair Corr
0.85	CRF	Cornerstone Strategic	Pair Corr
0.91	USA	Liberty All Star	Pair Corr
0.74	ETY	Eaton Vance Tax	Pair Corr
0.81	NFJ	Virtus Dividend Interest	Pair Corr

Moving against Smead Mutual Fund

0.64	FSUGX	American Funds Government	Pair Corr
0.61	TRIGX	T Rowe Price	Pair Corr
0.61	HIMZX	Virtus Low Duration	Pair Corr
0.52	REMVX	Rbc Emerging Markets	Pair Corr
0.44	MFIRX	Ms Global Fixed	Pair Corr
0.41	LIFAX	Lord Abbett Inflation	Pair Corr

Related Correlations Analysis

	ARBOX	GACCX	WESRX	MCINX	VAADX	HNCVX	FICVX
ARBOX		0.85	-0.31	-0.41	-0.5	-0.33	-0.64	ARBOX
GACCX	0.85		-0.06	-0.08	-0.21	-0.06	-0.28	GACCX
WESRX	-0.31	-0.06		0.88	0.89	0.98	0.79	WESRX
MCINX	-0.41	-0.08	0.88		0.96	0.9	0.84	MCINX
VAADX	-0.5	-0.21	0.89	0.96		0.91	0.86	VAADX
HNCVX	-0.33	-0.06	0.98	0.9	0.91		0.85	HNCVX
FICVX	-0.64	-0.28	0.79	0.84	0.86	0.85		FICVX
	ARBOX	GACCX	WESRX	MCINX	VAADX	HNCVX	FICVX

Click cells to compare fundamentals

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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

HNCVX	+ 0.98	WESRX
VAADX	+ 0.96	MCINX
HNCVX	+ 0.91	VAADX
HNCVX	+ 0.9	MCINX
VAADX	+ 0.89	WESRX
MCINX	+ 0.88	WESRX

High negative correlations

FICVX	- 0.64	ARBOX
VAADX	- 0.5	ARBOX
MCINX	- 0.41	ARBOX
HNCVX	- 0.33	ARBOX
WESRX	- 0.31	ARBOX
FICVX	- 0.28	GACCX

Risk-Adjusted Indicators

There is a big difference between Smead Mutual Fund performing well and Smead Value 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 Smead Value'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
ARBOX	0.05	0.02	0.00	0.95	0.00	0.00	0.09	0.00	0.18
GACCX	0.60	0.06	0.12	0.05	0.77	(0.61)	1.35	(1.50)	3.36
WESRX	0.65	(0.03)	0.00	(0.13)	0.00	0.00	1.36	(1.48)	3.47
MCINX	0.49	(0.09)	0.00	(2.01)	0.00	0.00	0.82	(1.29)	2.27
VAADX	0.66	(0.10)	0.00	1.97	0.00	0.00	1.13	(1.60)	3.27
HNCVX	0.62	(0.03)	0.00	(0.13)	0.00	0.00	1.06	(1.61)	3.34
FICVX	0.76	(0.11)	0.00	(0.26)	0.00	0.00	1.26	(1.79)	5.13

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