Technology Communications Correlations

STPAX Fund

USD 20.81 0.13 0.63%

The current 90-days correlation between Technology Communications and Short Oil Gas is -0.17 (i.e., Good diversification). The correlation of Technology Communications 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.

Technology Communications Correlation With Market

Modest diversification

The correlation between Technology Munications Portfol and DJI is 0.27 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Technology Munications Portfol 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 Technology Munications 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 Technology Mutual Fund

0.61	VEEAW	Veea Inc Symbol Change	Pair Corr
0.81	MYNA	Mynaric AG ADR	Pair Corr
0.64	CORZZ	Core Scientific, Tranche	Pair Corr
0.75	SLNHP	Soluna Holdings Preferred	Pair Corr
0.8	SABAX	Salient Alternative Beta	Pair Corr
0.8	SABIX	Aggressive Balanced	Pair Corr
0.82	SABCX	Salient Alternative Beta	Pair Corr
0.83	SAMAX	Moderately Aggressive	Pair Corr
0.84	SAMCX	Salient Mlp Fund	Pair Corr

Moving against Technology Mutual Fund

0.49	EXOD	Exodus Movement, Upward Rally	Pair Corr
0.48	VEEA	Veea Inc Symbol Change	Pair Corr
0.43	ZUO	Zuora Inc	Pair Corr
0.41	HPAIW	Helport AI Limited	Pair Corr
0.73	MIND	Mind Technology	Pair Corr
0.71	RZLVW	Rezolve AI Limited	Pair Corr
0.67	NXXT	NextNRG Symbol Change	Pair Corr
0.67	SCWX	Secureworks Corp	Pair Corr
0.42	ZEOWW	Zeo Energy Corp Symbol Change	Pair Corr
0.41	ODYS	Odysightai Common Stock	Pair Corr
0.35	PENG	Penguin Solutions, Symbol Change	Pair Corr

Related Correlations Analysis

	SNPIX	AIWEX	BACCX	APWEX	HNRGX	FRNRX	FIKAX
SNPIX		-0.71	-0.99	-0.71	-0.9	-0.98	-0.96	SNPIX
AIWEX	-0.71		0.72	1.0	0.8	0.77	0.8	AIWEX
BACCX	-0.99	0.72		0.72	0.91	0.98	0.97	BACCX
APWEX	-0.71	1.0	0.72		0.79	0.77	0.8	APWEX
HNRGX	-0.9	0.8	0.91	0.79		0.94	0.96	HNRGX
FRNRX	-0.98	0.77	0.98	0.77	0.94		0.98	FRNRX
FIKAX	-0.96	0.8	0.97	0.8	0.96	0.98		FIKAX
	SNPIX	AIWEX	BACCX	APWEX	HNRGX	FRNRX	FIKAX

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

APWEX	+ 1.0	AIWEX
FRNRX	+ 0.98	BACCX
FIKAX	+ 0.98	FRNRX
FIKAX	+ 0.97	BACCX
FIKAX	+ 0.96	HNRGX
FRNRX	+ 0.94	HNRGX

High negative correlations

BACCX	- 0.99	SNPIX
FRNRX	- 0.98	SNPIX
FIKAX	- 0.96	SNPIX
HNRGX	- 0.9	SNPIX
APWEX	- 0.71	SNPIX
AIWEX	- 0.71	SNPIX

Risk-Adjusted Indicators

There is a big difference between Technology Mutual Fund performing well and Technology Communications 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 Technology Communications' 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
SNPIX	0.93	0.10	0.10	(0.19)	0.85	(1.13)	2.35	(1.40)	4.99
AIWEX	1.07	(0.07)	0.00	(0.31)	0.00	0.00	1.90	(1.83)	9.76
BACCX	0.81	(0.08)	0.00	(0.19)	0.00	0.00	1.24	(1.90)	4.22
APWEX	1.08	(0.08)	0.00	(0.33)	0.00	0.00	1.84	(1.83)	9.71
HNRGX	0.90	(0.03)	0.00	(0.06)	0.00	0.00	1.54	(2.30)	4.59
FRNRX	0.82	(0.07)	0.00	(0.14)	0.00	0.00	1.23	(1.88)	4.45
FIKAX	0.95	(0.08)	0.00	(0.15)	0.00	0.00	1.39	(2.54)	5.27

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