Telecommunications Correlations
FTUTX Fund | USD 56.45 0.11 0.20% |
The current 90-days correlation between Telecommunications and Telecommunications Portfolio Fidelity is -0.04 (i.e., Good 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 Convertible | 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 |
0.39 | FACTX | Fidelity Advisor Health | PairCorr |
0.37 | FADIX | Fidelity Advisor Div | PairCorr |
0.31 | FACDX | Fidelity Advisor Health | PairCorr |
0.31 | FAFAX | Fidelity Advisor Freedom | PairCorr |
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.Mean Deviation | Jensen Alpha | Sortino Ratio | Treynor Ratio | Semi Deviation | Expected Shortfall | Potential Upside | Value @Risk | Maximum Drawdown | ||
---|---|---|---|---|---|---|---|---|---|---|
FIJGX | 0.67 | 0.17 | 0.07 | 1.08 | 0.70 | 1.37 | 4.59 | |||
RYCSX | 0.61 | 0.07 | 0.07 | 0.22 | 0.49 | 1.23 | 4.29 | |||
RYMAX | 0.62 | 0.17 | 0.05 | 3.86 | 0.52 | 1.26 | 4.26 | |||
RYMIX | 0.61 | 0.08 | 0.08 | 0.22 | 0.47 | 1.24 | 4.27 | |||
RYTLX | 0.61 | 0.08 | 0.08 | 0.22 | 0.47 | 1.26 | 4.25 | |||
FSTCX | 0.67 | 0.17 | 0.07 | 1.09 | 0.70 | 1.34 | 4.60 | |||
FTUIX | 0.67 | 0.17 | 0.07 | 1.08 | 0.70 | 1.34 | 4.62 | |||
FTUTX | 0.68 | 0.09 | 0.04 | 0.29 | 0.75 | 1.34 | 4.60 | |||
FTUAX | 0.68 | 0.09 | 0.04 | 0.29 | 0.74 | 1.33 | 4.61 |