Sit Developing Correlations

Mutual Funds . USA . 
Fund . Sit Developing Markets
SDMGX Fund  USD 20.43  0.12  0.58%   
The current 90-days correlation between Sit Developing Markets and Elfun Diversified Fund is 0.57 (i.e., Very weak 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

Very weak diversification

The correlation between Sit Developing Markets and DJI is 0.52 (i.e., Very weak 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

  0.97SSCDX Sit Small CapPairCorr
  0.99GDGIX Sit Global DividendPairCorr
  0.99GDGSX Sit Global DividendPairCorr
  0.97SSMGX Sit Small CapPairCorr
  0.97SDFSX Sit Small CapPairCorr
  0.99SDVSX Sit Dividend GrowthPairCorr
  0.98SDVGX Sit Dividend GrowthPairCorr
  0.99SIBAX Sit BalancedPairCorr
  0.99IESGX Sit Esg GrowthPairCorr
  0.98SNGRX Sit International GrowthPairCorr
  0.61SNGVX Sit U SPairCorr
  0.62SNGYX Sit Government SecuritiesPairCorr
  0.78SQIFX Sit Quality IncomePairCorr
  0.99VEMAX Vanguard Emerging MarketsPairCorr
  0.99VEIEX Vanguard Emerging MarketsPairCorr
  0.99VEMIX Vanguard Emerging MarketsPairCorr
  0.99VEMRX Vanguard Emerging MarketsPairCorr
  0.99FWWNX American Funds NewPairCorr
  0.99FNFWX American Funds NewPairCorr
  0.98NEWFX New World FundPairCorr
  0.99NWFFX New World FundPairCorr
  0.98NEWCX New World FundPairCorr
  0.99ODVYX Oppenheimer DevelopingPairCorr
  0.98VTSAX Vanguard Total StockPairCorr
  0.99VFIAX Vanguard 500 IndexPairCorr
  0.98VTSMX Vanguard Total StockPairCorr
  0.98VSMPX Vanguard Total StockPairCorr
  0.98VSTSX Vanguard Total StockPairCorr
  0.99VITSX Vanguard Total StockPairCorr
  0.99VFINX Vanguard 500 IndexPairCorr
  0.98VFFSX Vanguard 500 IndexPairCorr
  0.97VGTSX Vanguard Total InterPairCorr

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.

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