Telecommunications Correlations

FTUTX Fund  USD 56.34  0.54  0.95%   
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 0.46 (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

  0.88FPURX Fidelity PuritanPairCorr
  0.92FPUKX Fidelity PuritanPairCorr
  0.71FQIPX Fidelity Freedom IndexPairCorr
  0.75FQLSX Fidelity Flex FreedomPairCorr
  0.8FRAGX Aggressive GrowthPairCorr
  0.76FRGAX Growth Allocation IndexPairCorr
  0.7FRLPX Fidelity Freedom IndexPairCorr
  0.78FRPCX Fidelity Sai AlternativePairCorr
  0.75FAASX Fidelity Asset ManagerPairCorr
  0.76FAAIX Fidelity Asset ManagerPairCorr
  0.7FABLX Fidelity Advisor BalancedPairCorr
  0.68FABCX Fidelity Advisor BalancedPairCorr
  0.92FACVX Fidelity VertiblePairCorr
  0.91FACPX Fidelity Advisor SumerPairCorr
  0.84FACNX Fidelity CanadaPairCorr
  0.89FACGX Fidelity Advisor GrowthPairCorr

Moving against Telecommunications Mutual Fund

  0.68FQITX Fidelity Salem StreetPairCorr
  0.58FAERX Fidelity Advisor OverseasPairCorr
  0.42FADCX Fidelity Advisor DivPairCorr
  0.41FADIX Fidelity Advisor DivPairCorr
  0.39FACTX Fidelity Advisor HealthPairCorr
  0.33FACDX Fidelity Advisor HealthPairCorr

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.