Sprott Focus Correlations

FUND Stock

USD 7.88 0.08 1.03%

The current 90-days correlation between Sprott Focus Trust and Eaton Vance National is 0.35 (i.e., Weak diversification). The correlation of Sprott Focus 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.

Sprott Focus Correlation With Market

Poor diversification

The correlation between Sprott Focus Trust and DJI is 0.62 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sprott Focus Trust and DJI in the same portfolio, assuming nothing else is changed.

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Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Sprott Focus Trust. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

Moving together with Sprott Stock

0.94	GS	Goldman Sachs Group	Pair Corr
0.86	AXP	American Express	Pair Corr
0.94	COF	Capital One Financial	Pair Corr
0.94	SCM	Stellus Capital Inve Earnings Call This Week	Pair Corr
0.61	GAIN	Gladstone Investment	Pair Corr
0.91	GLAD	Gladstone Capital	Pair Corr
0.91	HTGC	Hercules Capital Earnings Call This Week	Pair Corr
0.93	MAIN	Main Street Capital	Pair Corr
0.92	PFLT	PennantPark Floating Rate	Pair Corr
0.78	PYPL	PayPal Holdings Earnings Call This Week	Pair Corr
0.94	ALLY	Ally Financial	Pair Corr
0.91	ARCC	Ares Capital Earnings Call This Week	Pair Corr
0.88	TPVG	Triplepoint Venture Earnings Call This Week	Pair Corr
0.91	TSLX	Sixth Street Specialty Earnings Call This Week	Pair Corr
0.95	CSWC	Capital Southwest	Pair Corr
0.94	C	Citigroup Aggressive Push	Pair Corr
0.86	L	Loews Corp Earnings Call This Week	Pair Corr
0.9	DHIL	Diamond Hill Investment	Pair Corr
0.68	AB	AllianceBernstein Earnings Call Tomorrow	Pair Corr
0.61	AC	Associated Capital	Pair Corr
0.93	AX	Axos Financial Earnings Call This Week	Pair Corr
0.85	BK	Bank of New York	Pair Corr
0.9	BN	Brookfield Corp	Pair Corr
0.85	BX	Blackstone Group	Pair Corr
0.72	BY	Byline Bancorp Earnings Call Tomorrow	Pair Corr
0.94	CG	Carlyle Group Earnings Call Tomorrow	Pair Corr
0.93	CM	Canadian Imperial Bank	Pair Corr
0.87	DB	Deutsche Bank AG Earnings Call Tomorrow	Pair Corr
0.94	IX	Orix Corp Ads Normal Trading	Pair Corr

Moving against Sprott Stock

0.37	PSEC	Prospect Capital	Pair Corr
0.62	EG	Everest Group Earnings Call This Week	Pair Corr
0.55	FG	FG Annuities Life	Pair Corr
0.53	LX	Lexinfintech Holdings Normal Trading	Pair Corr
0.47	CB	Chubb	Pair Corr

Related Correlations Analysis

	CXH	NIE	EOT	RMT	RVT	GCV	GAM	GGT
CXH		0.07	0.65	0.01	0.06	-0.02	-0.02	-0.2	CXH
NIE	0.07		0.1	0.97	0.97	0.96	0.99	-0.14	NIE
EOT	0.65	0.1		0.03	0.1	-0.03	0.02	0.09	EOT
RMT	0.01	0.97	0.03		0.95	0.96	0.97	0.02	RMT
RVT	0.06	0.97	0.1	0.95		0.93	0.96	-0.16	RVT
GCV	-0.02	0.96	-0.03	0.96	0.93		0.97	-0.09	GCV
GAM	-0.02	0.99	0.02	0.97	0.96	0.97		-0.13	GAM
GGT	-0.2	-0.14	0.09	0.02	-0.16	-0.09	-0.13		GGT
	CXH	NIE	EOT	RMT	RVT	GCV	GAM	GGT

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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

GAM	+ 0.99	NIE
RMT	+ 0.97	NIE
RVT	+ 0.97	NIE
GAM	+ 0.97	RMT
GAM	+ 0.97	GCV
GCV	+ 0.96	NIE

High negative correlations

GGT	- 0.2	CXH
GGT	- 0.16	RVT
GGT	- 0.14	NIE
GGT	- 0.13	GAM
GGT	- 0.09	GCV
GCV	- 0.03	EOT

Risk-Adjusted Indicators

There is a big difference between Sprott Stock performing well and Sprott Focus Company 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 Sprott Focus' 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
CXH	0.32	(0.07)	0.00	(0.19)	0.00	0.00	0.53	(0.93)	1.86
NIE	0.62	0.13	0.11	0.34	0.43	(0.76)	1.30	(0.93)	4.46
EOT	0.44	0.00	(0.23)	0.15	0.48	(0.54)	1.26	(0.69)	3.44
RMT	0.81	0.16	0.17	0.32	0.52	(1.04)	2.01	(1.35)	6.08
RVT	0.83	0.26	0.06	(1.25)	0.84	(0.92)	1.78	(1.60)	6.33
GCV	0.60	0.21	0.10	1.08	0.38	(0.81)	1.70	(1.21)	3.77
GAM	0.53	0.12	0.08	0.35	0.36	(0.59)	1.45	(0.89)	3.20
GGT	0.75	(0.03)	(0.10)	0.11	0.94	(0.91)	1.75	(1.54)	8.25

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