Banking Portfolio Correlations

FSRBX Fund

USD 35.50 0.06 0.17%

The current 90-days correlation between Banking Portfolio Banking and Consumer Finance Portfolio is -0.14 (i.e., Good diversification). The correlation of Banking Portfolio 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.

Banking Portfolio Correlation With Market

Poor diversification

The correlation between Banking Portfolio Banking and DJI is 0.78 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Banking Portfolio Banking 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 Banking Portfolio Banking. 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 bureau of labor statistics.

Moving together with Banking Mutual Fund

0.8	FPURX	Fidelity Puritan	Pair Corr
0.8	FPUKX	Fidelity Puritan	Pair Corr
0.66	FRAGX	Aggressive Growth	Pair Corr
0.7	FRPCX	Fidelity Sai Alternative	Pair Corr
0.91	FACVX	Fidelity Convertible	Pair Corr
0.85	FACPX	Fidelity Advisor Sumer	Pair Corr
0.67	FACNX	Fidelity Canada	Pair Corr
0.81	FACGX	Fidelity Advisor Growth	Pair Corr

Moving against Banking Mutual Fund

0.82	FQITX	Fidelity Salem Street	Pair Corr
0.58	FRAMX	Fidelity Income Repl	Pair Corr
0.57	FRIMX	Fidelity Income Repl	Pair Corr
0.43	FRASX	Fidelity Income Repl	Pair Corr
0.39	FRIOX	Fidelity Real Estate	Pair Corr
0.35	FRESX	Fidelity Real Estate	Pair Corr
0.32	FRINX	Fidelity Real Estate	Pair Corr
0.56	FRKMX	Fidelity Managed Ret	Pair Corr
0.56	FRQAX	Fidelity Income Repl	Pair Corr
0.55	FRHMX	Fidelity Managed Ret	Pair Corr
0.55	FRQIX	Fidelity Income Repl	Pair Corr
0.54	FRQKX	Fidelity Managed Ret	Pair Corr
0.53	FRQHX	Fidelity Managed Ret	Pair Corr
0.47	FROGX	Fidelity Municipal Income	Pair Corr
0.32	FRIQX	Fidelity Real Estate	Pair Corr
0.75	FAERX	Fidelity Advisor Overseas	Pair Corr
0.64	FADCX	Fidelity Advisor Div	Pair Corr
0.63	FADIX	Fidelity Advisor Div	Pair Corr
0.49	FACFX	Fidelity Advisor Freedom	Pair Corr
0.44	FACTX	Fidelity Advisor Health	Pair Corr
0.44	FACDX	Fidelity Advisor Health	Pair Corr

Related Correlations Analysis

	FSVLX	FIDSX	FSPCX	FSLBX	FSAVX
FSVLX		0.96	0.9	0.96	0.84	FSVLX
FIDSX	0.96		0.85	0.98	0.8	FIDSX
FSPCX	0.9	0.85		0.86	0.73	FSPCX
FSLBX	0.96	0.98	0.86		0.8	FSLBX
FSAVX	0.84	0.8	0.73	0.8		FSAVX
	FSVLX	FIDSX	FSPCX	FSLBX	FSAVX

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Risk-Adjusted Indicators

There is a big difference between Banking Mutual Fund performing well and Banking Portfolio 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 Banking Portfolio'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
FSVLX	0.83	0.27	0.16	(1.80)	0.50	(1.04)	2.04	(1.09)	6.58
FIDSX	0.83	0.09	0.17	0.18	0.51	(1.07)	1.90	(1.19)	9.82
FSPCX	0.69	0.14	0.03	(8.76)	0.68	(0.78)	1.58	(1.17)	5.10
FSLBX	0.83	0.16	0.22	0.25	0.45	(0.96)	1.89	(1.13)	7.10
FSAVX	0.90	0.13	(0.01)	(0.74)	1.04	(0.89)	2.23	(1.86)	4.93

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