Towpath Technology Correlations

TOWTX Fund

USD 14.53 0.62 4.46%

The current 90-days correlation between Towpath Technology and American Funds Retirement is 0.75 (i.e., Poor diversification). The correlation of Towpath Technology 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.

Towpath Technology Correlation With Market

Significant diversification

The correlation between Towpath Technology and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Towpath Technology 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 Towpath Technology. 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 estimate.

Moving together with Towpath Mutual Fund

0.68	WEBB	Web Global Holdings	Pair Corr
0.61	HAUP	Hauppauge Digital OTC	Pair Corr

Moving against Towpath Mutual Fund

0.73	VVPR	VivoPower International Tech Boost	Pair Corr
0.72	EVOL	Evolving Systems	Pair Corr
0.62	DLPX	Delphax Technologies	Pair Corr
0.49	DMAN	Innovativ Media Group	Pair Corr
0.44	SBIGW	SpringBig Holdings	Pair Corr
0.42	DZSI	DZS Inc	Pair Corr
0.35	XELAP	Exela Technologies	Pair Corr
0.34	VIDE	Video Display	Pair Corr
0.67	SURGW	SurgePays Warrant	Pair Corr
0.6	ZPTAW	Zapata Computing Holdings	Pair Corr
0.59	GETR	Getaround Financial Report 20th of December 2024	Pair Corr
0.59	ZPTA	Zapata Computing Holdings Symbol Change	Pair Corr
0.52	VLD	Velo3D Inc	Pair Corr
0.39	XELA	Exela Technologies Tech Boost	Pair Corr

Related Correlations Analysis

	RERPX	FRTCX	FHRVX	PGFCX	SMOAX	BIMPX	TDIFX	SAMAX
RERPX		0.78	0.8	0.88	0.82	0.9	0.85	0.42	RERPX
FRTCX	0.78		0.82	0.88	0.87	0.85	0.95	0.65	FRTCX
FHRVX	0.8	0.82		0.8	0.98	0.74	0.93	0.17	FHRVX
PGFCX	0.88	0.88	0.8		0.85	0.9	0.88	0.45	PGFCX
SMOAX	0.82	0.87	0.98	0.85		0.79	0.95	0.24	SMOAX
BIMPX	0.9	0.85	0.74	0.9	0.79		0.85	0.56	BIMPX
TDIFX	0.85	0.95	0.93	0.88	0.95	0.85		0.46	TDIFX
SAMAX	0.42	0.65	0.17	0.45	0.24	0.56	0.46		SAMAX
	RERPX	FRTCX	FHRVX	PGFCX	SMOAX	BIMPX	TDIFX	SAMAX

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Towpath Mutual Fund performing well and Towpath Technology 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 Towpath Technology'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
RERPX	0.26	0.00	(0.27)	0.36	0.31	(0.29)	0.55	(0.62)	1.57
FRTCX	0.22	(0.01)	(0.31)	0.07	0.22	(0.24)	0.39	(0.48)	1.14
FHRVX	0.25	(0.03)	(0.37)	(0.01)	0.29	(0.29)	0.56	(0.55)	1.54
PGFCX	0.23	0.02	(0.31)	0.61	0.20	(0.27)	0.48	(0.48)	1.24
SMOAX	0.20	(0.02)	(0.42)	0.02	0.19	(0.23)	0.34	(0.42)	1.10
BIMPX	0.26	0.00	(0.30)	0.12	0.24	(0.37)	0.75	(0.60)	1.58
TDIFX	0.16	(0.02)	(0.49)	0.01	0.15	(0.18)	0.35	(0.26)	0.95
SAMAX	0.42	0.00	(0.08)	0.12	0.42	(0.47)	0.85	(0.83)	2.62

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