Telecommunications Correlations

Mutual Funds . USA . 
Fund . Telecommunications Portfolio Fidelity
FTUAX Fund  USD 57.78  0.08  0.14%   
The current 90-days correlation between Telecommunications and Telecommunications Portfolio Fidelity is 1.0 (i.e., No risk reduction). The correlation of Telecommunications 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.

Telecommunications Correlation With Market

Very weak diversification

The correlation between Telecommunications Portfolio F and DJI is 0.51 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Telecommunications Portfolio F 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 Telecommunications Portfolio Fidelity. 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 nation.

Moving together with Telecommunications Mutual Fund

  0.84FPTKX Fidelity Freedom 2015PairCorr
  0.73FPXTX Fidelity PennsylvaniaPairCorr
  0.84FQIFX Fidelity Freedom IndexPairCorr
  0.75FQIPX Fidelity Freedom IndexPairCorr
  0.66FQITX Fidelity Salem StreetPairCorr
  0.79FQLSX Fidelity Flex FreedomPairCorr
  0.72FRAGX Aggressive GrowthPairCorr
  0.83FRAMX Fidelity Income ReplPairCorr
  0.82FRASX Fidelity Income ReplPairCorr
  0.74FRGAX Growth Allocation IndexPairCorr
  0.77FRESX Fidelity Real EstatePairCorr
  0.88FRIFX Fidelity Real EstatePairCorr
  0.83FRIMX Fidelity Income ReplPairCorr
  0.89FRINX Fidelity Real EstatePairCorr
  0.89FRIOX Fidelity Real EstatePairCorr
  0.89FRIQX Fidelity Real EstatePairCorr
  0.82FRHMX Fidelity Managed RetPairCorr
  0.82FRKMX Fidelity Managed RetPairCorr
  0.88FRIRX Fidelity Real EstatePairCorr
  0.75FRLPX Fidelity Freedom IndexPairCorr
  0.72FROGX Fidelity Municipal IncomePairCorr
  0.82FRQHX Fidelity Managed RetPairCorr
  0.82FRQIX Fidelity Income ReplPairCorr
  0.82FRQKX Fidelity Managed RetPairCorr
  0.83FRQAX Fidelity Income ReplPairCorr
  0.66FAASX Fidelity Asset ManagerPairCorr
  0.67FAAIX Fidelity Asset ManagerPairCorr
  0.69FACNX Fidelity CanadaPairCorr
  0.8FACFX Fidelity Advisor FreedomPairCorr
  0.72FADMX Fidelity Advisor StrPairCorr

Moving against Telecommunications Mutual Fund

  0.43FRPCX Fidelity Sai AlternativePairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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