Bull Profund Correlations

Mutual Funds . USA . 
Fund . Bull Profund Bull
BLPSX Fund  USD 56.96  0.32  0.56%   
The current 90-days correlation between Bull Profund Bull and Applied Finance Explorer is 0.71 (i.e., Poor diversification). The correlation of Bull Profund 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.

Bull Profund Correlation With Market

Poor diversification

The correlation between Bull Profund Bull and DJI is 0.79 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Bull Profund Bull 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 Bull Profund Bull. 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 Bull Mutual Fund

  0.94TEPIX Technology UltrasectorPairCorr
  0.94TEPSX Technology UltrasectorPairCorr
  0.98LGPIX Large Cap GrowthPairCorr
  0.98LGPSX Profunds Large CapPairCorr
  0.97OTPIX Nasdaq 100 ProfundPairCorr
  0.97OTPSX Nasdaq 100 ProfundPairCorr
  0.94MLPSX Mid Cap ValuePairCorr
  0.95MLPIX Mid Cap ValuePairCorr
  0.9BTCFX Bitcoin Strategy ProfundPairCorr
  0.96INPIX Internet UltrasectorPairCorr
  0.96INPSX Internet UltrasectorPairCorr
  1.0ULPIX Ultrabull ProfundPairCorr
  1.0ULPSX Ultrabull ProfundPairCorr
  0.94WCPIX Mobile TelecommunicatioPairCorr
  0.94WCPSX Mobile TelecommunicatioPairCorr
  0.92CYPSX Consumer ServicesPairCorr
  0.92CYPIX Consumer ServicesPairCorr
  0.92SVPIX Small Cap ValuePairCorr
  0.92SVPSX Small Cap ValuePairCorr
  0.64RRPSX Rising Rates Opportunity Steady GrowthPairCorr
  0.94UMPSX Ultramid Cap ProfundPairCorr
  0.95UMPIX Ultramid Cap ProfundPairCorr

Moving against Bull Mutual Fund

  1.0BRPIX Bear Profund BearPairCorr
  1.0BRPSX Bear Profund BearPairCorr
  0.95UIPIX Ultrashort Mid Cap Steady GrowthPairCorr
  0.95UIPSX Ultrashort Mid Cap Steady GrowthPairCorr
  0.65GVPSX Us Government PlusPairCorr
  0.64GVPIX Us Government PlusPairCorr
  0.63UKPIX Ultrashort Japan ProfundPairCorr
  0.57UKPSX Ultrashort Japan ProfundPairCorr
  0.93SHPIX Short Small Cap Steady GrowthPairCorr
  0.86FDPSX Falling Dollar ProfundPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Bull Mutual Fund performing well and Bull Profund 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 Bull Profund'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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