Consumer Discretionary Correlations

Mutual Funds . USA . 
Fund . Consumer Discretionary Portfolio
FSCPX Fund  USD 60.61  0.03  0.05%   
The current 90-days correlation between Consumer Discretionary and Industrials Portfolio Industrials is 0.78 (i.e., Poor diversification). The correlation of Consumer Discretionary 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.

Consumer Discretionary Correlation With Market

Good diversification

The correlation between Consumer Discretionary Portfol and DJI is -0.01 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Consumer Discretionary Portfol 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 Consumer Discretionary Portfolio. 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 american community survey.

Moving together with Consumer Mutual Fund

  0.61IP International PaperPairCorr
  0.91SW Smurfit WestRock plcPairCorr
  0.79F-PB Ford MotorPairCorr
  0.87F-PC Ford MotorPairCorr
  0.88F-PD F PDPairCorr
  0.82FIGS Figs IncPairCorr
  0.87AIN Albany InternationalPairCorr
  0.66AVY Avery Dennison CorpPairCorr
  0.8DMN Damon Common StockPairCorr
  0.86ECG Everus ConstructionPairCorr
  0.88GEF Greif BrosPairCorr
  0.62GPK Graphic Packaging HoldingPairCorr
  0.94HNI HNI CorpPairCorr
  0.76IPW iPower IncPairCorr
  0.61IVP Inspire VeterinaryPairCorr
  0.77KFS Kingsway FinancialPairCorr
  0.74MED MEDIFAST INCPairCorr
  0.94MLR Miller IndustriesPairCorr
  0.71MMA Alta Global GroupPairCorr
  0.87MRM Medirom HealthcarePairCorr
  0.71NCI Neo Concept InternatPairCorr
  0.74NCL Northann CorpPairCorr
  0.77PKG Packaging CorpPairCorr

Moving against Consumer Mutual Fund

  0.82CYD China Yuchai InternaPairCorr
  0.7EFOI Energy FocuPairCorr
  0.54DRVN Driven Brands Holdings Sell-off TrendPairCorr
  0.53OI O I GlassPairCorr
  0.5CCK Crown HoldingsPairCorr
  0.7ROL RollinsPairCorr
  0.32MYE Myers IndustriesPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Consumer Mutual Fund performing well and Consumer Discretionary 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 Consumer Discretionary'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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