Telecommunications Correlations

FTUIX Fund

USD 58.50 0.80 1.35%

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 0.57 (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

0.81	FPTKX	Fidelity Freedom 2015	Pair Corr
0.61	FQIFX	Fidelity Freedom Index	Pair Corr
0.84	FQITX	Fidelity Salem Street	Pair Corr
0.9	FRAMX	Fidelity Income Repl	Pair Corr
0.86	FRASX	Fidelity Income Repl	Pair Corr

Moving against Telecommunications Mutual Fund

0.46	FPURX	Fidelity Puritan	Pair Corr
0.46	FPUKX	Fidelity Puritan	Pair Corr

Related Correlations Analysis

	FTUCX	FTUAX	FTUTX	FDIGX	FBTIX
FTUCX		1.0	1.0	0.27	0.0	FTUCX
FTUAX	1.0		1.0	0.27	0.0	FTUAX
FTUTX	1.0	1.0		0.27	0.0	FTUTX
FDIGX	0.27	0.27	0.27		0.53	FDIGX
FBTIX	0.0	0.0	0.0	0.53		FBTIX
	FTUCX	FTUAX	FTUTX	FDIGX	FBTIX

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

FTUAX	+ 1.0	FTUCX
FTUTX	+ 1.0	FTUCX
FTUTX	+ 1.0	FTUAX
FBTIX	+ 0.53	FDIGX
FDIGX	+ 0.27	FTUCX
FDIGX	+ 0.27	FTUAX

High negative correlations

FBTIX	- 0.0	FTUTX
FBTIX	- 0.0	FTUAX
FBTIX	- 0.0	FTUCX

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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
FTUCX	0.77	0.15	0.15	0.17	0.98	(0.77)	1.40	(1.75)	5.25
FTUAX	0.77	0.15	0.15	0.17	1.00	(0.77)	1.41	(1.75)	5.27
FTUTX	0.77	0.15	0.15	0.17	1.00	(0.77)	1.41	(1.74)	5.27
FDIGX	0.84	(0.08)	0.00	(0.25)	0.00	0.00	1.46	(1.99)	5.98
FBTIX	0.99	(0.06)	0.00	(0.14)	0.00	0.00	1.93	(2.33)	5.16

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC