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.
Telecommunications |
Moving together with Telecommunications Mutual Fund
0.89 | FPURX | Fidelity Puritan | PairCorr |
0.73 | FQIPX | Fidelity Freedom Index | PairCorr |
0.82 | FRAGX | Aggressive Growth | PairCorr |
0.73 | FRLPX | Fidelity Freedom Index | PairCorr |
0.77 | FAASX | Fidelity Asset Manager | PairCorr |
0.67 | FABLX | Fidelity Advisor Balanced | PairCorr |
0.65 | FABCX | Fidelity Advisor Balanced | PairCorr |
0.94 | FACVX | Fidelity Convertible | PairCorr |
0.92 | FACPX | Fidelity Advisor Sumer | PairCorr |
0.86 | FACNX | Fidelity Canada | PairCorr |
0.89 | FACGX | Fidelity Advisor Growth | PairCorr |
0.89 | FADTX | Fidelity Advisor Tec Steady Growth | PairCorr |
0.85 | FAEGX | Fidelity Advisor Equity | PairCorr |
0.94 | FAFSX | Fidelity Advisor Fin | PairCorr |
0.63 | FAGNX | Fidelity Advisor Energy | PairCorr |
0.91 | FAGIX | Fidelity Capital Income | PairCorr |
0.9 | FAGCX | Fidelity Advisor Growth | PairCorr |
0.88 | FAGAX | Fidelity Advisor Growth | PairCorr |
Moving against Telecommunications Mutual Fund
0.62 | FQITX | Fidelity Salem Street | PairCorr |
0.32 | FACTX | Fidelity Advisor Health | PairCorr |
0.31 | FACDX | Fidelity Advisor Health | PairCorr |
0.54 | FAERX | Fidelity Advisor Overseas | PairCorr |
0.32 | FAIDX | Fidelity International | PairCorr |
Related Correlations Analysis
0.99 | 0.93 | 0.95 | 0.95 | 0.94 | BPSCX | ||
0.99 | 0.93 | 0.94 | 0.95 | 0.94 | UAPIX | ||
0.93 | 0.93 | 0.99 | 0.98 | 0.99 | PCSVX | ||
0.95 | 0.94 | 0.99 | 0.99 | 0.99 | MLPSX | ||
0.95 | 0.95 | 0.98 | 0.99 | 0.98 | QRSAX | ||
0.94 | 0.94 | 0.99 | 0.99 | 0.98 | UMPSX | ||
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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 | ||
---|---|---|---|---|---|---|---|---|---|---|
BPSCX | 0.81 | (0.02) | 0.04 | 0.11 | 0.63 | 1.77 | 7.51 | |||
UAPIX | 1.78 | (0.05) | 0.10 | 0.11 | 1.64 | 4.19 | 15.23 | |||
PCSVX | 0.75 | 0.14 | 0.04 | 1.30 | 0.54 | 1.83 | 5.70 | |||
MLPSX | 0.67 | 0.13 | 0.03 | 1.33 | 0.48 | 1.65 | 5.59 | |||
QRSAX | 0.73 | 0.16 | 0.06 | 1.57 | 0.48 | 1.87 | 6.37 | |||
UMPSX | 1.34 | 0.27 | 0.12 | 1.07 | 1.08 | 3.41 | 10.41 |