Telecommunications Correlations

FTUTX Fund  USD 56.45  0.11  0.20%   
The current 90-days correlation between Telecommunications and Boston Partners Small is 0.52 (i.e., Very 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.
  
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 estimate.

Moving together with Telecommunications Mutual Fund

  0.89FPURX Fidelity PuritanPairCorr
  0.73FQIPX Fidelity Freedom IndexPairCorr
  0.82FRAGX Aggressive GrowthPairCorr
  0.73FRLPX Fidelity Freedom IndexPairCorr
  0.77FAASX Fidelity Asset ManagerPairCorr
  0.67FABLX Fidelity Advisor BalancedPairCorr
  0.65FABCX Fidelity Advisor BalancedPairCorr
  0.94FACVX Fidelity ConvertiblePairCorr
  0.92FACPX Fidelity Advisor SumerPairCorr
  0.86FACNX Fidelity CanadaPairCorr
  0.89FACGX Fidelity Advisor GrowthPairCorr
  0.89FADTX Fidelity Advisor Tec Steady GrowthPairCorr
  0.85FAEGX Fidelity Advisor EquityPairCorr
  0.94FAFSX Fidelity Advisor FinPairCorr
  0.63FAGNX Fidelity Advisor EnergyPairCorr
  0.91FAGIX Fidelity Capital IncomePairCorr
  0.9FAGCX Fidelity Advisor GrowthPairCorr
  0.88FAGAX Fidelity Advisor GrowthPairCorr

Moving against Telecommunications Mutual Fund

  0.62FQITX Fidelity Salem StreetPairCorr
  0.32FACTX Fidelity Advisor HealthPairCorr
  0.31FACDX Fidelity Advisor HealthPairCorr
  0.54FAERX Fidelity Advisor OverseasPairCorr
  0.32FAIDX Fidelity InternationalPairCorr

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.