Banks Ultrasector Correlations

BKPSX Fund

USD 51.91 0.29 0.56%

The current 90-days correlation between Banks Ultrasector Profund and Tiaa Cref Large Cap Value is 0.64 (i.e., Poor diversification). The correlation of Banks Ultrasector 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.

Banks Ultrasector Correlation With Market

Good diversification

The correlation between Banks Ultrasector Profund 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 Banks Ultrasector Profund and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Banks Ultrasector Profund. 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 state.

Moving together with Banks Mutual Fund

0.73	TEPIX	Technology Ultrasector	Pair Corr
0.87	UMPIX	Ultramid Cap Profund	Pair Corr
0.88	MDPSX	Mid Cap Profund	Pair Corr
0.86	MGPIX	Mid Cap Growth	Pair Corr
0.82	FNPIX	Financials Ultrasector	Pair Corr
0.82	RYVYX	Nasdaq 100 2x	Pair Corr
0.82	RYVLX	Nasdaq 100 2x	Pair Corr
0.82	RYCCX	Nasdaq 100 2x	Pair Corr
0.86	UOPIX	Ultra Nasdaq 100	Pair Corr
0.82	UOPSX	Ultranasdaq 100 Profund	Pair Corr
0.87	RMQHX	Monthly Rebalance	Pair Corr
0.83	DXQLX	Direxion Monthly Nasdaq	Pair Corr
0.92	INPSX	Internet Ultrasector	Pair Corr
0.7	FTYPX	Fidelity Freedom Index	Pair Corr
0.66	FFBTX	Fidelity Freedom Blend	Pair Corr
0.89	GCAVX	Gmo Small Cap	Pair Corr
0.77	GQLOX	Gmo Quality Fund	Pair Corr
0.88	GMCQX	Gmo Equity Allocation	Pair Corr

Moving against Banks Mutual Fund

0.81	UCPIX	Ultrashort Small Cap	Pair Corr
0.8	SHPSX	Short Small Cap	Pair Corr
0.73	GAAVX	Gmo Alternative Allo	Pair Corr
0.45	GABFX	Gmo Asset Allocation	Pair Corr
0.4	GVPIX	Us Government Plus	Pair Corr
0.39	GVPSX	Us Government Plus	Pair Corr
0.36	AFBIX	Access Flex Bear	Pair Corr
0.48	VZ	Verizon Communications	Pair Corr
0.4	KO	Coca Cola Aggressive Push	Pair Corr
0.39	JNJ	Johnson Johnson	Pair Corr
0.38	ABNOX	Ab Bond Inflation	Pair Corr
0.34	XOM	Exxon Mobil Corp Earnings Call This Week	Pair Corr
0.33	VICSX	Vanguard Intermediate-ter	Pair Corr
0.32	MCD	McDonalds	Pair Corr

Related Correlations Analysis

	TRCPX	PAFDX	SMVLX	FMIQX	JDVNX	AMFFX	OAKLX	ALCEX
TRCPX		0.94	0.5	0.95	0.88	0.98	0.87	0.74	TRCPX
PAFDX	0.94		0.31	0.87	0.73	0.94	0.73	0.56	PAFDX
SMVLX	0.5	0.31		0.63	0.83	0.34	0.82	0.94	SMVLX
FMIQX	0.95	0.87	0.63		0.91	0.9	0.92	0.84	FMIQX
JDVNX	0.88	0.73	0.83	0.91		0.78	0.98	0.96	JDVNX
AMFFX	0.98	0.94	0.34	0.9	0.78		0.78	0.62	AMFFX
OAKLX	0.87	0.73	0.82	0.92	0.98	0.78		0.95	OAKLX
ALCEX	0.74	0.56	0.94	0.84	0.96	0.62	0.95		ALCEX
	TRCPX	PAFDX	SMVLX	FMIQX	JDVNX	AMFFX	OAKLX	ALCEX

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Risk-Adjusted Indicators

There is a big difference between Banks Mutual Fund performing well and Banks Ultrasector 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 Banks Ultrasector'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
TRCPX	0.65	0.03	0.04	(0.66)	0.75	(0.73)	1.27	(1.36)	3.55
PAFDX	0.60	0.05	0.07	(0.41)	0.64	(0.67)	1.18	(1.10)	3.38
SMVLX	0.76	(0.05)	0.00	0.33	0.00	0.00	1.31	(1.70)	3.48
FMIQX	0.69	(0.01)	0.00	0.23	0.00	0.00	1.20	(1.24)	3.07
JDVNX	0.66	(0.01)	(0.01)	0.11	0.90	(0.67)	1.24	(1.45)	3.55
AMFFX	0.54	0.02	0.03	(0.20)	0.63	(0.61)	1.09	(1.09)	2.75
OAKLX	0.74	(0.01)	0.00	(0.41)	0.98	(0.74)	1.43	(1.87)	3.58
ALCEX	0.69	(0.04)	0.00	0.71	0.00	0.00	1.39	(1.85)	3.41

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