Telecommunications Correlations
FTUTX Fund | USD 56.80 0.35 0.62% |
The current 90-days correlation between Telecommunications and Artisan Small Cap is 0.31 (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
0.92 | FPURX | Fidelity Puritan | PairCorr |
0.92 | FPUKX | Fidelity Puritan | PairCorr |
0.77 | FQIPX | Fidelity Freedom Index | PairCorr |
0.76 | FQLSX | Fidelity Flex Freedom | PairCorr |
0.86 | FRAGX | Aggressive Growth | PairCorr |
0.77 | FRLPX | Fidelity Freedom Index | PairCorr |
0.76 | FRPCX | Fidelity Sai Alternative | PairCorr |
0.77 | FAASX | Fidelity Asset Manager | PairCorr |
0.77 | FAAIX | Fidelity Asset Manager | PairCorr |
0.62 | FABLX | Fidelity Advisor Balanced | PairCorr |
0.95 | FACVX | Fidelity Convertible | PairCorr |
0.91 | FACPX | Fidelity Advisor Sumer | PairCorr |
0.89 | FACGX | Fidelity Advisor Growth | PairCorr |
0.85 | FAEGX | Fidelity Advisor Equity | PairCorr |
0.94 | FAFSX | Fidelity Advisor Fin | PairCorr |
0.65 | FAFFX | Fidelity Advisor Freedom | PairCorr |
0.94 | FAFCX | Fidelity Advisor Fin | PairCorr |
0.64 | FAGNX | Fidelity Advisor Energy | PairCorr |
0.95 | FAGKX | Fidelity Growth Stra | PairCorr |
0.94 | FAGIX | Fidelity Capital Income | PairCorr |
0.9 | FAGCX | Fidelity Advisor Growth | PairCorr |
Moving against Telecommunications Mutual Fund
0.32 | FACTX | Fidelity Advisor Health | PairCorr |
0.57 | FANCX | Fidelity Short Term | PairCorr |
0.31 | FACDX | Fidelity Advisor Health | PairCorr |
Related Correlations Analysis
0.98 | 0.88 | 0.9 | 0.98 | 0.92 | 0.96 | APDSX | ||
0.98 | 0.91 | 0.89 | 0.99 | 0.91 | 0.97 | QUAKX | ||
0.88 | 0.91 | 0.73 | 0.86 | 0.7 | 0.82 | MASCX | ||
0.9 | 0.89 | 0.73 | 0.93 | 0.95 | 0.92 | MSSGX | ||
0.98 | 0.99 | 0.86 | 0.93 | 0.95 | 0.99 | ANORX | ||
0.92 | 0.91 | 0.7 | 0.95 | 0.95 | 0.97 | CIPNX | ||
0.96 | 0.97 | 0.82 | 0.92 | 0.99 | 0.97 | IUSCX | ||
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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 | ||
---|---|---|---|---|---|---|---|---|---|---|
APDSX | 0.92 | 0.07 | 0.07 | 0.19 | 0.93 | 2.03 | 5.77 | |||
QUAKX | 0.91 | 0.05 | 0.09 | 0.17 | 0.87 | 1.92 | 6.77 | |||
MASCX | 0.48 | 0.03 | (0.04) | 0.17 | 0.49 | 1.11 | 3.39 | |||
MSSGX | 1.43 | 0.46 | 0.36 | 0.45 | 0.92 | 3.46 | 7.23 | |||
ANORX | 0.80 | 0.02 | 0.06 | 0.15 | 0.68 | 2.01 | 6.17 | |||
CIPNX | 0.83 | 0.01 | 0.05 | 0.14 | 0.79 | 1.72 | 7.70 | |||
IUSCX | 0.91 | (0.01) | 0.06 | 0.12 | 0.72 | 2.29 | 8.00 |