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Strategies & Market Trends : A.I.M Users Group Bulletin Board

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To: Dataminer1 who wrote (7882)	7/4/1999 1:21:00 AM
From: Dave Van Rensselaer	Read Replies (1) of 18928

D1, I like SCH vs. KEA for a whopping 0.160 correlation the past 11 yrs. Where as investors use health vs. financial funds for a correlation of 0.735 which is high. FSVLX vs. FSPHX is lower at 0.589 and FHLSX vs FSFSX is 0.673. Perfect correlation is 1.00 like Vanguard Index 500 (VFINX) vs. SP-500. All the funds above annualize between 23 and 24.7 percent. KEA annualized is 41.2 and SCH 66.5 percent. All above funds and stocks are measure for 11 yrs. I want stocks that are inversely correlated to a certain degree to reduce my MMkt holdings. But, I want the nice alpha, too... great annualized earnings. Since inception on 6/3/98, the hedge fund, USPIX has lost... an annualized -84.44 percent. I hold KEA and SCH now and think this low correlation and high annualized earnings will continue. I believe they also, fit nicely toward the bottom of my pyrimid. DaveV

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