Summit Global Correlations

Mutual Funds . USA . 
Fund . Summit Global Investments
SGICX Fund  USD 16.60  0.16  0.97%   
The current 90-days correlation between Summit Global Investments and Putnam Global Health is 0.84 (i.e., Very poor diversification). The correlation of Summit Global 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.

Summit Global Correlation With Market

Significant diversification

The correlation between Summit Global Investments and DJI is 0.08 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Summit Global Investments 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 Summit Global Investments. 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 main economic indicators.

Moving together with Summit Mutual Fund

  0.97VTSAX Vanguard Total StockPairCorr
  0.97VFIAX Vanguard 500 IndexPairCorr
  0.97VTSMX Vanguard Total StockPairCorr
  0.97VITSX Vanguard Total StockPairCorr
  0.97VSMPX Vanguard Total StockPairCorr
  0.97VSTSX Vanguard Total StockPairCorr
  0.97VFINX Vanguard 500 IndexPairCorr
  0.97VFFSX Vanguard 500 IndexPairCorr
  0.97VINIX Vanguard InstitutionalPairCorr
  0.97VIIIX Vanguard InstitutionalPairCorr
  0.83ERH Allspring Utilities AndPairCorr
  0.91WHIYX Ivy High IncomePairCorr
  0.91IVHIX Ivy High IncomePairCorr
  0.91IHIFX Ivy High IncomePairCorr
  0.91WRHIX Ivy High IncomePairCorr
  0.9WHIAX Ivy High IncomePairCorr
  0.76CSJZX Cohen Steers RealtyPairCorr
  0.76CSRSX Cohen Steers RealtyPairCorr
  0.82AA Alcoa Corp Earnings Call This WeekPairCorr
  0.88HPQ HP IncPairCorr
  0.95BAC Bank of AmericaPairCorr
  0.81DD Dupont De NemoursPairCorr
  0.72PFE Pfizer IncPairCorr
  0.82CAT CaterpillarPairCorr
  0.62WMT WalmartPairCorr
  0.8HD Home DepotPairCorr
  0.88AXP American ExpressPairCorr
  0.87JPM JPMorgan ChasePairCorr
  0.79IBM International BusinessPairCorr
  0.72BA BoeingPairCorr

Moving against Summit Mutual Fund

  0.56KO Coca ColaPairCorr
  0.54VZ Verizon CommunicationsPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Summit Mutual Fund performing well and Summit Global 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 Summit Global'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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