Financial Services Correlations

Mutual Funds . USA . 
Fund . Financial Services Portfolio
SFPIX Fund  USD 12.74  0.09  0.70%   
The current 90-days correlation between Financial Services and Absolute Convertible Arbitrage is 0.02 (i.e., Significant diversification). The correlation of Financial Services 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.

Financial Services Correlation With Market

Almost no diversification

The correlation between Financial Services Portfolio and DJI is 0.9 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Financial Services Portfolio 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 Financial Services Portfolio. 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 gross domestic product.

Moving together with Financial Mutual Fund

  0.94SABAX Salient Alternative BetaPairCorr
  0.94SABIX Aggressive BalancedPairCorr
  0.97SABCX Salient Alternative BetaPairCorr
  0.95SAMAX Moderately AggressivePairCorr
  0.97SAMCX Salient Mlp FundPairCorr
  0.95SAMIX Moderately AggressivePairCorr
  0.92SSCCX Small CapitalizationPairCorr
  0.98SSCPX Small CapitalizationPairCorr
  0.94SSCYX Small CapitalizationPairCorr
  0.95SBCCX Moderately ServativePairCorr
  0.82SBMBX Energy Basic MaterialsPairCorr
  0.95SBMCX Moderate BalancedPairCorr
  0.97SBMIX Moderate BalancedPairCorr
  0.94STPCX Technology CommunicationsPairCorr
  0.93STPIX Technology CommunicationsPairCorr
  0.94SCAAX Conservative BalancedPairCorr
  0.95SUMCX Conservative BalancedPairCorr
  0.85SEPIX Energy Basic MaterialsPairCorr
  0.82SEPCX Energy Basic MaterialsPairCorr
  1.0SFPCX Financial ServicesPairCorr
  0.97SFPAX Financial ServicesPairCorr
  0.88SIECX International EquityPairCorr
  0.88SIEPX International EquityPairCorr
  0.96SLCGX Large CapitalizationPairCorr
  0.95SLCVX Large Cap ValuePairCorr
  0.93SLGCX Large CapitalizationPairCorr
  0.93SLGYX Large CapitalizationPairCorr
  0.95SLVCX Large Cap ValuePairCorr
  0.93SLVYX Large Cap ValuePairCorr
  0.71SMBCX Municipal Bond PortfolioPairCorr
  0.71SMBAX Municipal Bond PortfolioPairCorr
  0.95SMACX Moderately ConservativePairCorr
  0.78SMBPX Municipal Bond PortfolioPairCorr
  0.95SMICX Moderately ConservativePairCorr
  0.99SMIPX Mid CapitalizationPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Financial Mutual Fund performing well and Financial Services 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 Financial Services' 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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