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.
  
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

  0.92FPURX Fidelity PuritanPairCorr
  0.92FPUKX Fidelity PuritanPairCorr
  0.77FQIPX Fidelity Freedom IndexPairCorr
  0.76FQLSX Fidelity Flex FreedomPairCorr
  0.86FRAGX Aggressive GrowthPairCorr
  0.77FRLPX Fidelity Freedom IndexPairCorr
  0.76FRPCX Fidelity Sai AlternativePairCorr
  0.77FAASX Fidelity Asset ManagerPairCorr
  0.77FAAIX Fidelity Asset ManagerPairCorr
  0.62FABLX Fidelity Advisor BalancedPairCorr
  0.95FACVX Fidelity ConvertiblePairCorr
  0.91FACPX Fidelity Advisor SumerPairCorr
  0.89FACGX Fidelity Advisor GrowthPairCorr
  0.85FAEGX Fidelity Advisor EquityPairCorr
  0.94FAFSX Fidelity Advisor FinPairCorr
  0.65FAFFX Fidelity Advisor FreedomPairCorr
  0.94FAFCX Fidelity Advisor FinPairCorr
  0.64FAGNX Fidelity Advisor EnergyPairCorr
  0.95FAGKX Fidelity Growth StraPairCorr
  0.94FAGIX Fidelity Capital IncomePairCorr
  0.9FAGCX Fidelity Advisor GrowthPairCorr

Moving against Telecommunications Mutual Fund

  0.32FACTX Fidelity Advisor HealthPairCorr
  0.57FANCX Fidelity Short TermPairCorr
  0.31FACDX 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.