Financial Services Correlations

Mutual Funds . USA . 
Fund . Financial Services Portfolio
SFPAX Fund  USD 10.89  0.03  0.28%   
The current 90-days correlation between Financial Services and Gamco Global Gold is 0.23 (i.e., Modest diversification). The correlation of Financial Services 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.

Financial Services Correlation With Market

Very weak diversification

The correlation between Financial Services Portfolio and DJI is 0.42 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Financial Services Portfolio and DJI in the same portfolio, assuming nothing else is changed.
  
Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Financial Services Portfolio. 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 nation.

Moving together with Financial Mutual Fund

  0.83SABAX Salient Alternative BetaPairCorr
  0.83SABIX Aggressive BalancedPairCorr
  0.84SABCX Salient Alternative BetaPairCorr
  0.85SAMAX Moderately AggressivePairCorr
  0.85SAMCX Salient Mlp FundPairCorr
  0.85SAMIX Moderately AggressivePairCorr
  0.85SSCCX Small CapitalizationPairCorr
  0.86SSCPX Small CapitalizationPairCorr
  0.86SSCYX Small CapitalizationPairCorr
  0.83SBCCX Moderately ConservativePairCorr
  0.86SBHIX Health BiotchnologyPairCorr
  0.86SBMBX Energy Basic MaterialsPairCorr
  0.85SBMCX Moderate BalancedPairCorr
  0.84SBMIX Moderate BalancedPairCorr
  0.91STPAX Technology CommunicationsPairCorr
  0.89STPCX Technology CommunicationsPairCorr
  0.91STPIX Technology CommunicationsPairCorr
  0.79SCAAX Conservative BalancedPairCorr
  0.81SUMCX Conservative BalancedPairCorr
  0.86SEPIX Energy Basic MaterialsPairCorr
  0.86SEPCX Energy Basic MaterialsPairCorr
  1.0SFPCX Financial ServicesPairCorr
  1.0SFPIX Financial ServicesPairCorr
  0.87SHPAX Health BiotchnologyPairCorr
  0.88SHPCX Health BiotchnologyPairCorr
  0.62SIBPX Investment Quality BondPairCorr
  0.91SLCGX Large CapitalizationPairCorr
  0.9SLCVX Large Cap ValuePairCorr
  0.86SLGCX Large CapitalizationPairCorr
  0.89SLGYX Large CapitalizationPairCorr
  0.88SLVCX Large Cap ValuePairCorr
  0.9SLVYX Large Cap ValuePairCorr
  0.69SMBCX Municipal Bond PortfolioPairCorr
  0.66SMBAX Municipal Bond PortfolioPairCorr
  0.82SMACX Moderately ConservativePairCorr
  0.65SMBPX Municipal Bond PortfolioPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Financial Mutual Fund performing well and Financial Services 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 Financial Services' 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.

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