Telecommunications Correlations

Mutual Funds . USA . 
Fund . Telecommunications Portfolio Fidelity
FTUIX Fund  USD 58.32  0.48  0.83%   
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 gross domestic product.

Moving together with Telecommunications Mutual Fund

  0.84FPTKX Fidelity Freedom 2015PairCorr
  0.74FPXTX Fidelity PennsylvaniaPairCorr
  0.83FQIFX Fidelity Freedom IndexPairCorr
  0.74FQIPX Fidelity Freedom IndexPairCorr
  0.69FQITX Fidelity Salem StreetPairCorr
  0.75FQLSX Fidelity Flex FreedomPairCorr
  0.7FRAGX Aggressive GrowthPairCorr
  0.85FRAMX Fidelity Income ReplPairCorr
  0.84FRASX Fidelity Income ReplPairCorr
  0.73FRGAX Growth Allocation IndexPairCorr
  0.79FRESX Fidelity Real EstatePairCorr
  0.89FRIFX Fidelity Real EstatePairCorr
  0.84FRIMX Fidelity Income ReplPairCorr
  0.89FRINX Fidelity Real EstatePairCorr
  0.89FRIOX Fidelity Real EstatePairCorr
  0.89FRIQX Fidelity Real EstatePairCorr
  0.84FRHMX Fidelity Managed RetPairCorr
  0.84FRKMX Fidelity Managed RetPairCorr
  0.89FRIRX Fidelity Real EstatePairCorr
  0.74FRLPX Fidelity Freedom IndexPairCorr
  0.73FROGX Fidelity Municipal IncomePairCorr
  0.84FRQHX Fidelity Managed RetPairCorr
  0.84FRQIX Fidelity Income ReplPairCorr
  0.84FRQKX Fidelity Managed RetPairCorr
  0.85FRQAX Fidelity Income ReplPairCorr
  0.61FAAIX Fidelity Asset ManagerPairCorr
  0.66FACNX Fidelity CanadaPairCorr
  0.84FACFX Fidelity Advisor FreedomPairCorr
  0.74FADMX Fidelity Advisor StrPairCorr

Moving against Telecommunications Mutual Fund

  0.42FRPCX 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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