Tekla Life Correlations

XHQLX Fund

USD 15.21 0.11 0.72%

The current 90-days correlation between Tekla Life Sciences and Artisan Developing World is 0.45 (i.e., Very weak diversification). The correlation of Tekla Life 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.

Tekla Life Correlation With Market

Average diversification

The correlation between Tekla Life Sciences and DJI is 0.1 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Tekla Life Sciences and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Tekla Life Sciences. 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 bureau of economic analysis.

Moving together with Tekla Mutual Fund

0.8	VGTSX	Vanguard Total Inter	Pair Corr
0.79	VTIAX	Vanguard Total Inter	Pair Corr
0.78	NHS	Neuberger Berman High	Pair Corr

Moving against Tekla Mutual Fund

0.78	MUIIX	Ultra Short Income	Pair Corr
0.76	IGOIX	Rational Inflation Growth	Pair Corr
0.71	DRGTX	Allianzgi Technology	Pair Corr
0.65	JSOSX	Jpmorgan Strategic Income	Pair Corr
0.62	CREMX	Redwood Real Estate	Pair Corr
0.54	FCNTX	Fidelity Contrafund	Pair Corr
0.53	VFIAX	Vanguard 500 Index	Pair Corr
0.52	VFINX	Vanguard 500 Index	Pair Corr
0.46	VTSAX	Vanguard Total Stock	Pair Corr
0.46	VITSX	Vanguard Total Stock	Pair Corr
0.44	PBSIX	Polen Small Pany	Pair Corr
0.43	VTSMX	Vanguard Total Stock	Pair Corr
0.43	VSTSX	Vanguard Total Stock	Pair Corr
0.43	VSMPX	Vanguard Total Stock	Pair Corr
0.43	VFFSX	Vanguard 500 Index	Pair Corr
0.68	PRMTX	T Rowe Price	Pair Corr
0.67	LOTCX	Locorr Market Trend	Pair Corr
0.66	FOCPX	Fidelity Otc Portfolio	Pair Corr
0.66	VIGAX	Vanguard Growth Index	Pair Corr
0.62	FOCIX	Fairholme Focused	Pair Corr
0.61	SIGVX	Ridgeworth Seix Gove	Pair Corr
0.55	PRGTX	T Rowe Price	Pair Corr
0.54	SMFPX	Salient Mlp Energy	Pair Corr
0.53	FXAIX	Fidelity 500 Index	Pair Corr
0.53	OOSYX	Oppenheimer Senior	Pair Corr
0.52	FZROX	Fidelity Zero Total	Pair Corr
0.5	ALMAX	Alger Smidcap Focus	Pair Corr
0.43	GAB	Gabelli Equity Trust	Pair Corr
0.42	TCHTX	Cleartrack 2020 Class	Pair Corr
0.42	PRCOX	T Rowe Price	Pair Corr
0.42	VBIAX	Vanguard Balanced Index	Pair Corr
0.4	RPIEX	T Rowe Price	Pair Corr
0.34	VSMAX	Vanguard Small Cap	Pair Corr

Related Correlations Analysis

	ARTYX	SEKRX	RYVYX	EGLNX	OBEGX	BOGSX	POEIX	XEMDX
ARTYX		-0.17	0.71	0.72	0.69	0.5	-0.24	0.32	ARTYX
SEKRX	-0.17		-0.33	-0.68	0.24	0.38	0.73	0.48	SEKRX
RYVYX	0.71	-0.33		0.7	0.37	0.27	-0.24	0.22	RYVYX
EGLNX	0.72	-0.68	0.7		0.39	0.08	-0.61	-0.05	EGLNX
OBEGX	0.69	0.24	0.37	0.39		0.64	0.04	0.44	OBEGX
BOGSX	0.5	0.38	0.27	0.08	0.64		-0.04	0.52	BOGSX
POEIX	-0.24	0.73	-0.24	-0.61	0.04	-0.04		0.35	POEIX
XEMDX	0.32	0.48	0.22	-0.05	0.44	0.52	0.35		XEMDX
	ARTYX	SEKRX	RYVYX	EGLNX	OBEGX	BOGSX	POEIX	XEMDX

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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

POEIX	+ 0.73	SEKRX
EGLNX	+ 0.72	ARTYX
RYVYX	+ 0.71	ARTYX
EGLNX	+ 0.7	RYVYX
OBEGX	+ 0.69	ARTYX
BOGSX	+ 0.64	OBEGX

High negative correlations

EGLNX	- 0.68	SEKRX
POEIX	- 0.61	EGLNX
RYVYX	- 0.33	SEKRX
POEIX	- 0.24	RYVYX
POEIX	- 0.24	ARTYX
SEKRX	- 0.17	ARTYX

Risk-Adjusted Indicators

There is a big difference between Tekla Mutual Fund performing well and Tekla Life 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 Tekla Life'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
ARTYX	0.73	0.00	0.00	(0.08)	1.12	(0.68)	1.37	(1.52)	4.86
SEKRX	0.62	(0.10)	0.00	(0.67)	0.00	0.00	1.57	(1.47)	4.23
RYVYX	1.67	0.13	0.05	11.00	2.52	(1.67)	3.08	(4.83)	12.68
EGLNX	0.83	0.16	0.14	0.52	1.02	(0.91)	1.86	(1.70)	5.83
OBEGX	0.99	(0.01)	0.00	(0.02)	0.00	0.00	1.74	(2.46)	5.29
BOGSX	1.06	(0.09)	0.00	(0.27)	0.00	0.00	1.45	(2.34)	11.58
POEIX	0.56	(0.04)	0.00	1.58	0.00	0.00	1.24	(1.23)	3.55
XEMDX	0.23	(0.04)	0.00	(1.30)	0.00	0.00	0.47	(0.65)	1.97

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