Sit Developing Correlations

SDMGX Fund  USD 20.55  0.06  0.29%   
The current 90-days correlation between Sit Developing Markets and Franklin Gold Precious is -0.06 (i.e., Good diversification). The correlation of Sit Developing 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 Developing Correlation With Market

Significant diversification

The correlation between Sit Developing Markets and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sit Developing Markets 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 Sit Developing Markets. 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

  0.99VEMAX Vanguard Emerging MarketsPairCorr
  0.99VEIEX Vanguard Emerging MarketsPairCorr
  0.99VEMRX Vanguard Emerging MarketsPairCorr
  0.99FWWNX American Funds NewPairCorr
  0.99FNFWX American Funds NewPairCorr
  0.86NEWFX New World FundPairCorr
  0.99NWFFX New World FundPairCorr
  0.86NEWCX New World FundPairCorr
  0.99ODVYX Oppenheimer DevelopingPairCorr
  0.61CVX Chevron Corp Earnings Call This WeekPairCorr

Moving against Sit Mutual Fund

  0.75XNBHX Neuberger Berman IntPairCorr
  0.73XDSMX Dreyfus StrategicPairCorr
  0.62XNXJX Nuveen New JerseyPairCorr
  0.44XPPRX Voya Prime RatePairCorr
  0.56MCD McDonaldsPairCorr
  0.4TRV The Travelers CompaniesPairCorr
  0.32HPQ HP IncPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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