Technology Ultrasector Correlations

TEPIX Fund

USD 30.11 1.17 3.74%

The current 90-days correlation between Technology Ultrasector and Materials Portfolio Fidelity is 0.02 (i.e., Significant diversification). The correlation of Technology Ultrasector 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 Ultrasector Correlation With Market

Very weak diversification

The correlation between Technology Ultrasector Profund and DJI is 0.59 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Technology Ultrasector Profund 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 Ultrasector Profund. 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

1.0	TEPSX	Technology Ultrasector	Pair Corr
0.98	LGPIX	Large Cap Growth	Pair Corr
0.98	LGPSX	Profunds Large Cap	Pair Corr
0.98	OTPIX	Nasdaq 100 Profund	Pair Corr
0.89	OTPSX	Nasdaq 100 Profund	Pair Corr
0.87	MLPIX	Mid Cap Value	Pair Corr
0.8	BTCFX	Bitcoin Strategy Profund	Pair Corr
0.89	INPIX	Internet Ultrasector	Pair Corr
0.82	INPSX	Internet Ultrasector	Pair Corr
0.85	ULPIX	Ultrabull Profund	Pair Corr
0.95	ULPSX	Ultrabull Profund	Pair Corr
0.85	OEPSX	Oil Equipment Services	Pair Corr
0.91	CYPIX	Consumer Services	Pair Corr
0.83	OEPIX	Oil Equipment Services	Pair Corr
0.93	SVPIX	Small Cap Value	Pair Corr
0.93	SVPSX	Small Cap Value	Pair Corr
0.91	UMPSX	Ultramid Cap Profund	Pair Corr
0.86	UMPIX	Ultramid Cap Profund	Pair Corr
0.62	RRPIX	Rising Rates Opportunity	Pair Corr
0.98	UOPIX	Ultra Nasdaq 100 Downward Rally	Pair Corr
0.98	UOPSX	Ultranasdaq 100 Profund Downward Rally	Pair Corr
0.93	SGPIX	Small Cap Growth	Pair Corr
0.65	SGPSX	Small Cap Growth	Pair Corr

Moving against Technology Mutual Fund

0.95	BRPSX	Bear Profund Bear	Pair Corr
0.92	UIPIX	Ultrashort Mid Cap	Pair Corr
0.91	UIPSX	Ultrashort Mid Cap	Pair Corr
0.64	GVPSX	Us Government Plus	Pair Corr
0.48	GVPIX	Us Government Plus	Pair Corr
0.61	UNPIX	Ultrainternational	Pair Corr
0.7	SHPIX	Short Small Cap	Pair Corr
0.7	SHPSX	Short Small Cap	Pair Corr
0.59	PMPIX	Precious Metals Ultr Steady Growth	Pair Corr
0.59	PMPSX	Precious Metals Ultr Steady Growth	Pair Corr
0.33	UNPSX	Ultrainternational	Pair Corr

Related Correlations Analysis

	FMFTX	TBLDX	FTUFOX	WRLDX	EICVX	DIHRX	BXECX
FMFTX		0.6	0.18	0.37	0.22	0.13	0.01	FMFTX
TBLDX	0.6		0.28	0.88	0.69	0.62	0.52	TBLDX
FTUFOX	0.18	0.28		0.58	0.61	0.64	0.66	FTUFOX
WRLDX	0.37	0.88	0.58		0.89	0.86	0.8	WRLDX
EICVX	0.22	0.69	0.61	0.89		0.94	0.89	EICVX
DIHRX	0.13	0.62	0.64	0.86	0.94		0.95	DIHRX
BXECX	0.01	0.52	0.66	0.8	0.89	0.95		BXECX
	FMFTX	TBLDX	FTUFOX	WRLDX	EICVX	DIHRX	BXECX

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Risk-Adjusted Indicators

There is a big difference between Technology Mutual Fund performing well and Technology Ultrasector 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 Ultrasector'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	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
FMFTX	0.85	(0.07)	0.00	(0.68)	0.00	0.00	1.43	(1.92)	8.22
TBLDX	0.36	0.01	0.14	(0.23)	0.43	(0.36)	0.70	(0.69)	2.12
FTUFOX	0.10	0.00	0.47	0.29	0.00	(0.10)	0.20	(0.19)	0.60
WRLDX	0.56	0.08	0.18	(0.72)	0.64	(0.56)	1.24	(1.26)	2.96
EICVX	0.55	0.13	0.21	0.16	0.56	(0.58)	1.12	(0.89)	2.93
DIHRX	0.58	0.13	0.21	0.18	0.56	(0.67)	1.51	(0.99)	3.80
BXECX	0.18	0.05	0.44	(0.88)	0.00	(0.32)	0.55	(0.27)	1.21

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