Financial Industries Correlations

Mutual Funds . USA . 
Fund . Financial Industries Fund
FIDCX Fund  USD 15.23  0.08  0.52%   
The current 90-days correlation between Financial Industries and Cornercap Small Cap Value is 0.32 (i.e., Weak diversification). The correlation of Financial Industries 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.

Financial Industries Correlation With Market

Good diversification

The correlation between Financial Industries Fund and DJI is -0.16 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Financial Industries Fund and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Financial Industries Fund. 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 main economic indicators.

Moving together with Financial Mutual Fund

  0.95FRBAX Regional BankPairCorr
  0.95FRBCX Regional BankPairCorr
  0.72JQLBX Multimanager LifestylePairCorr
  0.83JQLAX Multimanager LifestylePairCorr
  0.8JQLGX Multimanager LifestylePairCorr
  0.95JRBFX Regional BankPairCorr
  0.83JRETX J Hancock IiPairCorr
  0.95JRGRX Regional BankPairCorr
  0.74JRLQX Retirement Living ThroughPairCorr
  0.74JRLUX Multi Index 2045PairCorr
  0.76JRLWX Retirement Living ThroughPairCorr
  0.74JRLVX Retirement Living ThroughPairCorr
  0.76JRLZX Retirement Living ThroughPairCorr
  0.82JROUX J Hancock IiPairCorr
  0.76JRODX J Hancock IiPairCorr
  0.8JAAFX Jhancock Multi IndexPairCorr
  0.8JAAJX Jhancock Multi IndexPairCorr
  0.8JAAKX Jhancock Multi IndexPairCorr
  0.83JAAVX Jhancock MultimanagerPairCorr
  0.65JRTKX Retirement Living ThroughPairCorr

Related Correlations Analysis

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.
High positive correlations   
PRSVX
+ 0.98
SMVTX
RRMVX
+ 0.97
ASVIX
RRMVX
+ 0.94
SMVTX
ASVIX
+ 0.93
PRSVX
ASVIX
+ 0.92
SMVTX
RRMVX
+ 0.92
PRSVX
  
High negative correlations   
ASVIX
- 0.02
CSCVX

Risk-Adjusted Indicators

There is a big difference between Financial Mutual Fund performing well and Financial Industries 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 Financial Industries' 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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