Sit Mid Correlations

Mutual Funds . USA . 
Fund . Sit Mid Cap
NBNGX Fund  USD 25.29  0.29  1.16%   
The current 90-days correlation between Sit Mid Cap and Franklin Gold Precious is -0.35 (i.e., Very good diversification). The correlation of Sit Mid 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.

Sit Mid Correlation With Market

Very good diversification

The correlation between Sit Mid Cap and DJI is -0.21 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sit Mid Cap and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Sit Mid Cap. 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 price.

Moving together with Sit Mutual Fund

  0.97SSCDX Sit Small CapPairCorr
  0.96GDGIX Sit Global DividendPairCorr
  0.96GDGSX Sit Global DividendPairCorr
  0.97SSMGX Sit Small CapPairCorr
  0.95SDFSX Sit Small CapPairCorr
  0.96SDMGX Sit Developing MarketsPairCorr
  0.97SDVSX Sit Dividend GrowthPairCorr
  0.95SDVGX Sit Dividend GrowthPairCorr
  0.98SESGX Sit Esg GrowthPairCorr
  0.95SIBAX Sit BalancedPairCorr
  0.96IESGX Sit Esg GrowthPairCorr
  0.96SNIGX Sit Large CapPairCorr
  0.96SNGRX Sit International GrowthPairCorr
  0.68SQIYX Sit Mutual FundsPairCorr
  0.66SQIFX Sit Quality IncomePairCorr
  0.96PAMCX T Rowe PricePairCorr
  0.96RRMGX T Rowe PricePairCorr
  0.96TRQZX T Rowe PricePairCorr
  0.96RPMGX T Rowe PricePairCorr
  0.97PRJIX T Rowe PricePairCorr
  0.93PRNHX T Rowe PricePairCorr
  0.93TRUZX T Rowe PricePairCorr
  0.97PCBIX Midcap Fund InstitutionalPairCorr
  0.97PEMGX Midcap Fund ClassPairCorr
  0.97PMBCX Midcap Fund ClassPairCorr
  0.93SMPIX Semiconductor UltrasectorPairCorr
  0.93SMPSX Semiconductor UltrasectorPairCorr
  0.93RSNRX Victory Global NaturalPairCorr
  0.76EMO Clearbridge Energy MlpPairCorr
  0.92RSNYX Victory Global NaturalPairCorr
  0.63SPMPX Invesco Steelpath MlpPairCorr
  0.62SPMJX Invesco Steelpath MlpPairCorr
  0.92RGNCX Victory Global NaturalPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Sit Mutual Fund performing well and Sit Mid 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 Sit Mid'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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