Financials Ultrasector Correlations

FNPIX Fund

USD 43.63 0.15 0.34%

The current 90-days correlation between Financials Ultrasector and Blackrock Health Sciences is 0.04 (i.e., Significant diversification). The correlation of Financials 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.

Financials Ultrasector Correlation With Market

Significant diversification

The correlation between Financials Ultrasector Profund and DJI is 0.02 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Financials Ultrasector Profund 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 Financials 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 gross domestic product.

Moving together with Financials Mutual Fund

0.77	PHPIX	Pharmaceuticals Ultrasector	Pair Corr
0.76	PHPSX	Pharmaceuticals Ultrasector	Pair Corr
0.68	INPIX	Internet Ultrasector	Pair Corr
0.72	INPSX	Internet Ultrasector	Pair Corr
0.64	ULPIX	Ultrabull Profund	Pair Corr
0.89	WCPIX	Mobile Telecommunicatio	Pair Corr
0.89	WCPSX	Mobile Telecommunicatio	Pair Corr

Moving against Financials Mutual Fund

0.67	BRPSX	Bear Profund Bear	Pair Corr
0.66	BRPIX	Bear Profund Bear	Pair Corr
0.65	SRPIX	Short Real Estate	Pair Corr
0.62	SRPSX	Short Real Estate	Pair Corr
0.49	UIPSX	Ultrashort Mid Cap	Pair Corr
0.48	UIPIX	Ultrashort Mid Cap	Pair Corr

Related Correlations Analysis

	SHSAX	SCHLX	LYFAX	LOGSX	PGHAX	GTHCX
SHSAX		0.92	0.9	0.75	0.87	0.96	SHSAX
SCHLX	0.92		0.99	0.83	0.86	0.85	SCHLX
LYFAX	0.9	0.99		0.83	0.86	0.81	LYFAX
LOGSX	0.75	0.83	0.83		0.71	0.65	LOGSX
PGHAX	0.87	0.86	0.86	0.71		0.76	PGHAX
GTHCX	0.96	0.85	0.81	0.65	0.76		GTHCX
	SHSAX	SCHLX	LYFAX	LOGSX	PGHAX	GTHCX

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Risk-Adjusted Indicators

There is a big difference between Financials Mutual Fund performing well and Financials 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 Financials 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
SHSAX	0.63	0.08	0.12	0.09	0.62	(0.69)	1.33	(0.95)	3.73
SCHLX	0.64	0.04	0.10	(0.31)	0.65	(0.74)	1.25	(1.12)	3.70
LYFAX	0.61	0.03	0.08	(0.21)	0.66	(0.65)	1.22	(1.18)	3.27
LOGSX	0.67	0.01	0.04	(0.09)	0.89	(0.69)	1.18	(1.14)	3.69
PGHAX	0.65	0.02	0.04	0.02	0.82	(0.67)	1.33	(1.10)	4.12
GTHCX	0.67	0.08	0.10	0.08	0.72	(0.72)	1.39	(1.22)	4.61

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