Telecommunications Correlations
FTUTX Fund | USD 56.34 0.54 0.95% |
The current 90-days correlation between Telecommunications and Amg Managers Centersquare is 0.34 (i.e., Weak diversification). 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 0.49 (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.
Telecommunications |
Moving together with Telecommunications Mutual Fund
0.89 | FPURX | Fidelity Puritan | PairCorr |
0.89 | FPUKX | Fidelity Puritan | PairCorr |
0.71 | FQIPX | Fidelity Freedom Index | PairCorr |
0.77 | FQLSX | Fidelity Flex Freedom | PairCorr |
0.81 | FRAGX | Aggressive Growth | PairCorr |
0.77 | FRGAX | Growth Allocation Index | PairCorr |
0.77 | FRLPX | Fidelity Freedom Index | PairCorr |
0.77 | FRPCX | Fidelity Sai Alternative | PairCorr |
0.77 | FAASX | Fidelity Asset Manager | PairCorr |
0.78 | FAAIX | Fidelity Asset Manager | PairCorr |
0.68 | FABLX | Fidelity Advisor Balanced | PairCorr |
0.66 | FABCX | Fidelity Advisor Balanced | PairCorr |
0.93 | FACVX | Fidelity Vertible | PairCorr |
0.92 | FACPX | Fidelity Advisor Sumer | PairCorr |
0.86 | FACNX | Fidelity Canada | PairCorr |
0.9 | FACGX | Fidelity Advisor Growth | PairCorr |
Moving against Telecommunications Mutual Fund
0.67 | FQITX | Fidelity Salem Street | PairCorr |
0.55 | FAERX | Fidelity Advisor Overseas | PairCorr |
0.46 | FADCX | Fidelity Advisor Div | PairCorr |
0.39 | FACTX | Fidelity Advisor Health | PairCorr |
0.37 | FADIX | Fidelity Advisor Div | PairCorr |
0.31 | FACDX | Fidelity Advisor Health | PairCorr |
Related Correlations Analysis
0.66 | 0.93 | 0.89 | 0.76 | -0.14 | MRESX | ||
0.66 | 0.76 | 0.5 | 0.43 | 0.41 | SEIRX | ||
0.93 | 0.76 | 0.78 | 0.63 | 0.08 | MXREX | ||
0.89 | 0.5 | 0.78 | 0.8 | -0.25 | FIKMX | ||
0.76 | 0.43 | 0.63 | 0.8 | 0.05 | PRKAX | ||
-0.14 | 0.41 | 0.08 | -0.25 | 0.05 | FORFX | ||
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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
| High negative correlations
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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.Mean Deviation | Jensen Alpha | Sortino Ratio | Treynor Ratio | Semi Deviation | Expected Shortfall | Potential Upside | Value @Risk | Maximum Drawdown | ||
---|---|---|---|---|---|---|---|---|---|---|
MRESX | 0.69 | 0.00 | (0.13) | 0.11 | 0.83 | 1.26 | 3.43 | |||
SEIRX | 0.69 | 0.01 | (0.10) | 0.20 | 0.79 | 1.27 | 3.65 | |||
MXREX | 0.68 | (0.01) | (0.13) | 0.11 | 0.83 | 1.34 | 3.72 | |||
FIKMX | 0.22 | 0.00 | (0.41) | 0.19 | 0.22 | 0.49 | 1.22 | |||
PRKAX | 0.54 | 0.01 | (0.15) | 0.24 | 0.60 | 0.98 | 2.80 | |||
FORFX | 0.06 | 0.00 | 0.00 | 0.00 | 0.00 | 0.11 | 0.93 |