Technology Communications Correlations

STPIX Fund

USD 24.79 0.11 0.44%

The current 90-days correlation between Technology Communications and Gamco International Growth is -0.04 (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

Good diversification

The correlation between Technology Munications Portfol and DJI is -0.09 (i.e., Good 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 gross domestic product.

Moving together with Technology Mutual Fund

0.66	VEEA	Veea Inc Symbol Change	Pair Corr
0.67	VISL	Vislink Technologies Earnings Call This Week	Pair Corr
0.71	YAAS	Youxin Technology	Pair Corr
0.68	ZSPC	zSpace, Common stock	Pair Corr
0.81	INGM	Ingram Micro Holding	Pair Corr
0.77	MIND	Mind Technology	Pair Corr
0.85	HPE-PC	Hewlett Packard Ente	Pair Corr
0.74	VEEAW	Veea Inc Symbol Change	Pair Corr
0.69	NOVA	Sunnova Energy Inter	Pair Corr
0.7	CORZZ	Core Scientific, Tranche	Pair Corr
0.74	SLNHP	Soluna Holdings Preferred	Pair Corr

Moving against Technology Mutual Fund

0.58	EMKR	EMCORE	Pair Corr
0.73	MTTR	Matterport	Pair Corr
0.72	INFN	Infinera	Pair Corr
0.52	NTCL	NETCLASS TECHNOLOGY INC	Pair Corr
0.41	HPAIW	Helport AI Limited	Pair Corr
0.44	AMBR	Amber Road, Symbol Change	Pair Corr

Related Correlations Analysis

	GCIGX	CDGCX	EIPFX	TFAGX	EIPIX	PIGDX	WPASX
GCIGX		0.67	0.47	-0.02	0.48	0.89	-0.24	GCIGX
CDGCX	0.67		0.16	0.45	0.16	0.46	0.31	CDGCX
EIPFX	0.47	0.16		0.12	1.0	0.64	-0.08	EIPFX
TFAGX	-0.02	0.45	0.12		0.12	0.02	0.86	TFAGX
EIPIX	0.48	0.16	1.0	0.12		0.64	-0.08	EIPIX
PIGDX	0.89	0.46	0.64	0.02	0.64		-0.28	PIGDX
WPASX	-0.24	0.31	-0.08	0.86	-0.08	-0.28		WPASX
	GCIGX	CDGCX	EIPFX	TFAGX	EIPIX	PIGDX	WPASX

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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

EIPIX	+ 1.0	EIPFX
PIGDX	+ 0.89	GCIGX
WPASX	+ 0.86	TFAGX
CDGCX	+ 0.67	GCIGX
PIGDX	+ 0.64	EIPFX
PIGDX	+ 0.64	EIPIX

High negative correlations

WPASX	- 0.28	PIGDX
WPASX	- 0.24	GCIGX
WPASX	- 0.08	EIPIX
WPASX	- 0.08	EIPFX
TFAGX	- 0.02	GCIGX

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
GCIGX	0.80	0.05	0.04	0.01	1.43	(0.71)	1.83	(1.43)	6.40
CDGCX	0.64	(0.03)	0.00	(0.09)	0.00	0.00	1.12	(1.59)	6.72
EIPFX	0.69	0.12	0.15	0.18	0.86	(0.72)	1.69	(1.58)	4.31
TFAGX	0.99	(0.06)	0.00	0.96	0.00	0.00	1.73	(2.14)	5.37
EIPIX	0.70	0.12	0.15	0.17	0.85	(0.72)	1.68	(1.63)	4.24
PIGDX	0.83	0.09	0.08	0.06	1.14	(0.84)	1.84	(1.68)	7.09
WPASX	0.71	(0.06)	0.00	0.35	0.00	0.00	1.48	(1.45)	3.93

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