Simt Tax-managed Correlations

Mutual Funds . USA . 
Fund . Simt Tax Managed Smallmid
STMPX Fund  USD 21.55  0.48  2.28%   
The current 90-days correlation between Simt Tax Managed and Simt Tax Managed Large is 0.96 (i.e., Almost no diversification). The correlation of Simt Tax-managed 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.

Simt Tax-managed Correlation With Market

Almost no diversification

The correlation between Simt Tax Managed Smallmid and DJI is 0.93 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Simt Tax Managed Smallmid 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 Simt Tax Managed Smallmid. 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 american community survey.

Moving together with Simt Mutual Fund

  0.9SAAAX Simt Multi AssetPairCorr
  0.87SRWAX Saat Market GrowthPairCorr
  0.88SSCGX Simt Small CapPairCorr
  0.9SSGAX Saat Aggressive StrategyPairCorr
  0.81SASDX Saat Aggressive StrategyPairCorr
  0.89SSMAX Siit Small MidPairCorr
  0.98SSPIX Simt Sp 500PairCorr
  0.63SBDAX Stet California MunicipalPairCorr
  0.64STAYX Stet Tax AdvantagedPairCorr
  0.62ENIAX Siit Opportunistic IncomePairCorr
  0.97STLYX Simt Tax ManagedPairCorr
  1.0STMSX Simt Tax ManagedPairCorr
  0.65STVYX Simt Tax ManagedPairCorr
  0.79SCMSX Saat E MarketPairCorr
  0.78SCLAX Simt Multi AssetPairCorr
  0.98SCPAX Siit Large CapPairCorr
  0.65SCYYX Stet California MunicipalPairCorr
  0.81SUSYX Simt Managed VolatilityPairCorr
  0.98SDLAX Siit Dynamic AssetPairCorr
  0.81SVAYX Simt Large CapPairCorr
  0.88SDYAX Simt Dynamic AssetPairCorr
  0.81SVOAX Simt Managed VolatilityPairCorr
  0.88SDYYX Simt Dynamic AssetPairCorr
  0.82SEAIX Saat Aggressive StrategyPairCorr

Moving against Simt Mutual Fund

  0.5SRYRX Simt Real ReturnPairCorr
  0.49SCOAX Siit E FixedPairCorr
  0.47TFCAX Tax Free ConservativePairCorr
  0.46SCFYX Simt E FixedPairCorr
  0.43TFCYX Tax Free ConservativePairCorr
  0.4CFVYX Catholic Values FixedPairCorr
  0.75SDGFX Sdit Short DurationPairCorr
  0.68SUSAX Siit Ultra ShortPairCorr
  0.68SECPX Sdit Ultra ShortPairCorr
  0.67RRPAX Siit Real ReturnPairCorr
  0.47SECYX Sdit Ultra ShortPairCorr
  0.43SEGMX Sdit Gnma FundPairCorr
  0.39SCXIX Sei Insti MgdPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Simt Mutual Fund performing well and Simt Tax-managed 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 Simt Tax-managed'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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