Sit Large Correlations

Mutual Funds . USA . 
Fund . Sit Large Cap
SNIGX Fund  USD 76.17  0.29  0.38%   
The correlation of Sit Large 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 Large Correlation With Market

Good diversification

The correlation between Sit Large Cap and DJI is -0.04 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sit Large Cap 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 Large Cap. 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
  0.9GDGIX Sit Global DividendPairCorr
  0.9GDGSX Sit Global DividendPairCorr
  0.87SSMGX Sit Small CapPairCorr
  0.97SDFSX Sit Small CapPairCorr
  0.89SDMGX Sit Developing MarketsPairCorr
  0.97SDVSX Sit Dividend GrowthPairCorr
  0.97SDVGX Sit Dividend GrowthPairCorr
  0.89SESGX Sit Esg GrowthPairCorr
  0.87NBNGX Sit Mid CapPairCorr
  0.91SIBAX Sit BalancedPairCorr
  0.98IESGX Sit Esg GrowthPairCorr
  0.85SNGRX Sit International GrowthPairCorr
  0.88FAFGX American FundsPairCorr
  0.88FFAFX American FundsPairCorr
  0.98GFACX Growth FundPairCorr
  0.98GFAFX Growth FundPairCorr
  0.88AGTHX Growth FundPairCorr
  0.88CGFFX Growth FundPairCorr
  0.98CGFCX Growth FundPairCorr
  0.98CGFAX Growth FundPairCorr
  0.98CGFEX Growth FundPairCorr
  0.98RGAEX Growth FundPairCorr
  0.9FTYPX Fidelity Freedom IndexPairCorr
  0.97FFBTX Fidelity Freedom BlendPairCorr
  0.93GCAVX Gmo Small CapPairCorr
  0.98GQLOX Gmo Quality FundPairCorr
  0.91GHVIX Gmo High YieldPairCorr
  0.9GMCQX Gmo Equity AllocationPairCorr
  0.62FGZXX First American FundsPairCorr

Moving against Sit Mutual Fund

  0.49GABFX Gmo Asset AllocationPairCorr

Related Correlations Analysis

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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   
ARTFX
+ 0.95
COMSX
RBOFX
+ 0.84
ANBIX
ARTFX
+ 0.75
GFAXX
COMSX
+ 0.71
GFAXX
RBOFX
+ 0.71
MSTBX
ANBIX
+ 0.69
MSTBX
  
High negative correlations   
DLTNX
- 0.32
GFAXX
DLTNX
- 0.24
COMSX
DLTNX
- 0.09
ARTFX
RBOFX
- 0.03
COMSX

Risk-Adjusted Indicators

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