Ft 7934: Correlations

FZNQEX Fund

580.89 0.05 0.01%

The current 90-days correlation between Ft 7934 Corporate and Dreyfus Technology Growth is -0.06 (i.e., Good diversification). The correlation of Ft 7934: 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.

Ft 7934: Correlation With Market

Significant diversification

The correlation between Ft 7934 Corporate and DJI is 0.03 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ft 7934 Corporate 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 Ft 7934 Corporate. Also, note that the market value of any fund could be closely tied with the direction of predictive economic indicators such as signals in producer price index.

Moving together with FZNQEX Fund

0.7	VGTSX	Vanguard Total Inter	Pair Corr
0.7	VTIAX	Vanguard Total Inter	Pair Corr
0.7	GAAVX	Gmo Alternative Allo	Pair Corr
0.87	GABFX	Gmo Asset Allocation	Pair Corr
0.71	GHVIX	Gmo High Yield	Pair Corr
0.83	TRV	The Travelers Companies	Pair Corr
0.86	VZ	Verizon Communications	Pair Corr
0.82	JNJ	Johnson Johnson	Pair Corr
0.79	T	ATT Inc Earnings Call Tomorrow	Pair Corr

Moving against FZNQEX Fund

0.61	GCAVX	Gmo Small Cap	Pair Corr
0.54	GMCQX	Gmo Equity Allocation	Pair Corr
0.53	VTSAX	Vanguard Total Stock	Pair Corr
0.53	VTSMX	Vanguard Total Stock	Pair Corr
0.53	VITSX	Vanguard Total Stock	Pair Corr
0.53	VSTSX	Vanguard Total Stock	Pair Corr
0.53	VSMPX	Vanguard Total Stock	Pair Corr
0.5	VFIAX	Vanguard 500 Index	Pair Corr
0.5	VFINX	Vanguard 500 Index	Pair Corr
0.5	VFFSX	Vanguard 500 Index	Pair Corr
0.59	MSFT	Microsoft	Pair Corr
0.55	HPQ	HP Inc	Pair Corr
0.53	AXP	American Express	Pair Corr
0.33	DIS	Walt Disney	Pair Corr

Related Correlations Analysis

	DTEYX	JAGTX	BGSCX	GITAX	CONIX	WFTDX	NWHOX
DTEYX		0.8	0.96	0.82	0.94	0.83	0.83	DTEYX
JAGTX	0.8		0.8	0.98	0.73	0.94	0.97	JAGTX
BGSCX	0.96	0.8		0.78	0.93	0.77	0.78	BGSCX
GITAX	0.82	0.98	0.78		0.73	0.97	0.99	GITAX
CONIX	0.94	0.73	0.93	0.73		0.78	0.75	CONIX
WFTDX	0.83	0.94	0.77	0.97	0.78		0.98	WFTDX
NWHOX	0.83	0.97	0.78	0.99	0.75	0.98		NWHOX
	DTEYX	JAGTX	BGSCX	GITAX	CONIX	WFTDX	NWHOX

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between FZNQEX Fund performing well and Ft 7934: 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 Ft 7934:'s 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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
DTEYX	1.37	(0.06)	(0.12)	2.50	(3.77)	7.35
JAGTX	1.18	(0.15)	1.35	2.00	(3.18)	6.40
BGSCX	1.48	(0.10)	(0.16)	2.37	(3.68)	9.08
GITAX	1.21	(0.17)	1.20	1.73	(2.82)	7.57
CONIX	0.62	(0.06)	(0.19)	1.18	(1.47)	3.04
WFTDX	0.90	(0.10)	4.63	1.70	(2.00)	4.98
NWHOX	1.26	(0.14)	1.27	2.08	(3.17)	7.26

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC