Summit Global Correlations

SILVX Fund

USD 18.65 0.16 0.87%

The current 90-days correlation between Summit Global Investments and Sit Dividend Growth is -0.05 (i.e., Good 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

Poor diversification

The correlation between Summit Global Investments and DJI is 0.69 (i.e., Poor 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 unemployment.

Moving together with Summit Mutual Fund

0.84	SGICX	Summit Global Investments	Pair Corr
0.78	VTSAX	Vanguard Total Stock	Pair Corr
0.83	VFIAX	Vanguard 500 Index	Pair Corr
0.78	VTSMX	Vanguard Total Stock	Pair Corr
0.78	VITSX	Vanguard Total Stock	Pair Corr
0.78	VSMPX	Vanguard Total Stock	Pair Corr
0.78	VSTSX	Vanguard Total Stock	Pair Corr
0.83	VFINX	Vanguard 500 Index	Pair Corr
0.76	VFFSX	Vanguard 500 Index	Pair Corr
0.83	VINIX	Vanguard Institutional	Pair Corr
0.83	VIIIX	Vanguard Institutional	Pair Corr
0.71	ERH	Allspring Utilities And	Pair Corr
0.81	IVHIX	Ivy High Income	Pair Corr
0.64	IHIFX	Ivy High Income	Pair Corr
0.66	WRHIX	Ivy High Income	Pair Corr
0.65	JRAAX	Janus Research	Pair Corr
0.8	DMB	Bny Mellon Municipal	Pair Corr
0.85	SVPIX	Small Cap Value	Pair Corr
0.85	NOINX	Northern International	Pair Corr
0.82	FUMBX	Fidelity Short Term	Pair Corr
0.7	USAAX	Growth Fund Growth	Pair Corr
0.73	SEFCX	Sit International Equity	Pair Corr
0.67	HCACX	Hartford Capital	Pair Corr
0.65	JAMRX	Janus Research	Pair Corr
0.79	RYPNX	Royce Opportunity	Pair Corr
0.78	SEDAX	Siit Emerging Markets	Pair Corr
0.81	OBSOX	Oberweis Small Cap	Pair Corr
0.81	CPXIX	Cohen Steers Prfrd	Pair Corr
0.67	PRGFX	T Rowe Price	Pair Corr

Related Correlations Analysis

	SDVSX	SDVGX	DOPIX	HEIFX	SIMYX	BTMFX	EMFIX	EMEAX	CRAAX	RYVFX
SDVSX		1.0	0.25	0.41	0.33	-0.34	0.96	0.96	0.98	-0.16	SDVSX
SDVGX	1.0		0.25	0.4	0.32	-0.34	0.96	0.96	0.98	-0.17	SDVGX
DOPIX	0.25	0.25		0.64	0.41	0.66	0.21	0.21	0.28	0.8	DOPIX
HEIFX	0.41	0.4	0.64		0.5	0.33	0.35	0.35	0.38	0.59	HEIFX
SIMYX	0.33	0.32	0.41	0.5		0.29	0.28	0.28	0.36	0.37	SIMYX
BTMFX	-0.34	-0.34	0.66	0.33	0.29		-0.41	-0.41	-0.31	0.7	BTMFX
EMFIX	0.96	0.96	0.21	0.35	0.28	-0.41		1.0	0.95	-0.14	EMFIX
EMEAX	0.96	0.96	0.21	0.35	0.28	-0.41	1.0		0.95	-0.14	EMEAX
CRAAX	0.98	0.98	0.28	0.38	0.36	-0.31	0.95	0.95		-0.16	CRAAX
RYVFX	-0.16	-0.17	0.8	0.59	0.37	0.7	-0.14	-0.14	-0.16		RYVFX
	SDVSX	SDVGX	DOPIX	HEIFX	SIMYX	BTMFX	EMFIX	EMEAX	CRAAX	RYVFX

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

SDVGX	+ 1.0	SDVSX
EMEAX	+ 1.0	EMFIX
CRAAX	+ 0.98	SDVSX
CRAAX	+ 0.98	SDVGX
EMFIX	+ 0.96	SDVSX
EMEAX	+ 0.96	SDVSX

High negative correlations

EMEAX	- 0.41	BTMFX
EMFIX	- 0.41	BTMFX
BTMFX	- 0.34	SDVGX
BTMFX	- 0.34	SDVSX
CRAAX	- 0.31	BTMFX
RYVFX	- 0.17	SDVGX

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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
SDVSX	0.39	0.09	(0.03)	(2.48)	0.40	(0.44)	0.88	(0.61)	3.18
SDVGX	0.40	0.09	(0.03)	(2.09)	0.39	(0.46)	0.89	(0.60)	3.16
DOPIX	0.80	(0.07)	(0.02)	0.05	0.85	(0.91)	2.00	(1.69)	6.75
HEIFX	0.32	0.02	(0.14)	1.68	0.39	(0.37)	0.71	(0.62)	2.34
SIMYX	0.37	0.03	(0.15)	(0.18)	0.41	(0.39)	0.84	(0.68)	1.89
BTMFX	0.58	(0.08)	(0.12)	0.01	0.63	(0.71)	1.24	(1.05)	3.99
EMFIX	0.69	0.17	0.08	(4.88)	0.72	(0.79)	1.51	(1.39)	4.60
EMEAX	0.69	0.17	0.08	(6.97)	0.72	(0.79)	1.52	(1.48)	4.58
CRAAX	0.32	0.07	(0.06)	(1.44)	0.28	(0.39)	0.66	(0.48)	3.04
RYVFX	0.87	(0.06)	(0.02)	0.05	0.89	(1.15)	1.98	(1.51)	7.36

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