Sp 500 Correlations

Mutual Funds . USA . 
Fund . Sp 500 Index
SPXKX Fund  USD 84.10  0.02  0.02%   
The current 90-days correlation between Sp 500 Index and Sp Midcap Index is 0.7 (i.e., Poor diversification). The correlation of Sp 500 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.

Sp 500 Correlation With Market

Very poor diversification

The correlation between Sp 500 Index and DJI is 0.84 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sp 500 Index 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 Sp 500 Index. 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 bureau of economic analysis.

Moving together with SPXKX Mutual Fund

  0.97EMSLX Shelton Emerging MarketsPairCorr
  0.82EMSQX Shelton Emerging MarketsPairCorr
  0.79CFNTX California Tax FreePairCorr
  0.81NQQQX Shelton FundsPairCorr
  0.81NASDX Nasdaq 100 IndexPairCorr
  0.76EQTKX Shelton E ValuePairCorr
  0.78EQTIX Shelton E ValuePairCorr
  0.81NDXKX Nasdaq 100 IndexPairCorr
  0.94SISEX Shelton InternationalPairCorr
  0.94SISLX Shelton InternationalPairCorr
  0.75SMCIX Sp Smallcap IndexPairCorr
  0.88SMLKX Sp Smallcap IndexPairCorr
  0.89DEBIX Shelton Tactical CreditPairCorr
  0.84CAUKX Us Government SecuritiesPairCorr
  0.75CAUSX Us Government SecuritiesPairCorr
  0.84SPFIX Sp 500 IndexPairCorr
  0.83SPMIX Sp Midcap IndexPairCorr
  0.83MIDKX Sp Midcap IndexPairCorr
  1.0VTSAX Vanguard Total StockPairCorr
  1.0VFIAX Vanguard 500 IndexPairCorr
  1.0VTSMX Vanguard Total StockPairCorr
  1.0VITSX Vanguard Total StockPairCorr
  1.0VSMPX Vanguard Total StockPairCorr
  1.0VSTSX Vanguard Total StockPairCorr
  1.0VFINX Vanguard 500 IndexPairCorr
  1.0VFFSX Vanguard 500 IndexPairCorr
  1.0VINIX Vanguard InstitutionalPairCorr
  0.83VIIIX Vanguard InstitutionalPairCorr
  0.8MGHRX Morgan Stanley InstiPairCorr
  0.81MBIRX Morgan Stanley InsightPairCorr
  0.81MGRPX Growth Portfolio ClassPairCorr
  0.81MCRTX Morgan Stanley MultiPairCorr
  0.82ONERX One Rock FundPairCorr
  0.8MSGUX Growth Portfolio ClassPairCorr
  0.81MSCMX Morgan Stanley MultiPairCorr
  0.75PDMIX Gnma Fund InstitutionalPairCorr
  0.99JNABX Jpmorgan Smartretirement*PairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

There is a big difference between SPXKX Mutual Fund performing well and Sp 500 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 Sp 500'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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