Ultra Fund Correlations

AULDX Fund

USD 99.40 1.15 1.17%

The current 90-days correlation between Ultra Fund R6 and Franklin Dynatech Fund is 0.94 (i.e., Almost no diversification). The correlation of Ultra Fund 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.

Ultra Fund Correlation With Market

Very good diversification

The correlation between Ultra Fund R6 and DJI is -0.48 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ultra Fund R6 and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Ultra Fund R6. 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 discontinued.

Moving together with Ultra Mutual Fund

0.98	TWCAX	Select Fund A	Pair Corr
0.89	TWCIX	Select Fund Investor	Pair Corr
0.7	TWCGX	Growth Fund Investor	Pair Corr
0.71	TWCUX	Ultra Fund Investor	Pair Corr
0.7	TWGIX	Growth Fund I	Pair Corr
0.98	TWSIX	Select Fund I	Pair Corr
1.0	TWUAX	Ultra Fund A	Pair Corr
0.71	TWUIX	Ultra Fund I	Pair Corr

Moving against Ultra Mutual Fund

0.82	TWADX	Value Fund A	Pair Corr
0.8	TWACX	Short Term Government	Pair Corr
0.79	TWAVX	Short Term Government	Pair Corr
0.77	TWARX	Short Term Government	Pair Corr
0.7	CDBCX	Diversified Bond	Pair Corr
0.66	AMVYX	Mid Cap Value	Pair Corr
0.66	AMVRX	Mid Cap Value	Pair Corr
0.66	AMVGX	Mid Cap Value	Pair Corr
0.65	AMKIX	Emerging Markets	Pair Corr
0.63	AMDVX	Mid Cap Value	Pair Corr
0.62	AMGIX	Income Growth	Pair Corr
0.84	TWEAX	Equity Income	Pair Corr
0.84	TWEIX	Equity Income	Pair Corr
0.79	TWUSX	Short Term Government	Pair Corr
0.76	TWTCX	Intermediate Term Tax	Pair Corr
0.76	TWTIX	Intermediate Term Tax	Pair Corr
0.62	TWSMX	Strategic Allocation	Pair Corr
0.61	TWSAX	Strategic Allocation	Pair Corr
0.55	TWMIX	Emerging Markets	Pair Corr
0.5	TWGAX	International Growth	Pair Corr
0.47	TWSCX	Strategic Allocation	Pair Corr
0.38	TWIEX	International Growth	Pair Corr
0.8	TWVLX	Value Fund Investor	Pair Corr
0.77	TWUOX	Short Term Government	Pair Corr
0.77	TWWOX	Intermediate Term Tax	Pair Corr
0.7	ANTSX	Nt International Small	Pair Corr
0.63	ANTUX	Nt Non Intrinsic	Pair Corr
0.58	NPHIX	High Income Fund	Pair Corr

Related Correlations Analysis

	RRMGX	PRBLX	VTCLX	HCAIX	TRRDX	FRDPX	FRDAX	VHCAX	FDTRX
RRMGX		0.46	0.65	-0.1	0.27	0.32	0.48	0.51	0.13	RRMGX
PRBLX	0.46		0.48	-0.15	0.2	0.02	0.25	0.41	0.24	PRBLX
VTCLX	0.65	0.48		-0.11	0.58	0.4	0.71	0.55	0.15	VTCLX
HCAIX	-0.1	-0.15	-0.11		-0.57	-0.33	-0.38	-0.47	0.6	HCAIX
TRRDX	0.27	0.2	0.58	-0.57		0.74	0.86	0.56	-0.58	TRRDX
FRDPX	0.32	0.02	0.4	-0.33	0.74		0.75	0.45	-0.3	FRDPX
FRDAX	0.48	0.25	0.71	-0.38	0.86	0.75		0.43	-0.36	FRDAX
VHCAX	0.51	0.41	0.55	-0.47	0.56	0.45	0.43		-0.34	VHCAX
FDTRX	0.13	0.24	0.15	0.6	-0.58	-0.3	-0.36	-0.34		FDTRX
	RRMGX	PRBLX	VTCLX	HCAIX	TRRDX	FRDPX	FRDAX	VHCAX	FDTRX

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

FRDAX	+ 0.86	TRRDX
FRDAX	+ 0.75	FRDPX
FRDPX	+ 0.74	TRRDX
FRDAX	+ 0.71	VTCLX
VTCLX	+ 0.65	RRMGX
FDTRX	+ 0.6	HCAIX

High negative correlations

FDTRX	- 0.58	TRRDX
TRRDX	- 0.57	HCAIX
VHCAX	- 0.47	HCAIX
FRDAX	- 0.38	HCAIX
FDTRX	- 0.36	FRDAX
FDTRX	- 0.34	VHCAX

Risk-Adjusted Indicators

There is a big difference between Ultra Mutual Fund performing well and Ultra Fund 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 Ultra Fund'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
RRMGX	0.60	(0.02)	(0.03)	0.01	0.73	(0.62)	1.22	(1.14)	3.86
PRBLX	0.93	0.31	0.38	0.44	0.28	(1.18)	1.08	(1.24)	23.91
VTCLX	0.54	(0.02)	(0.04)	0.00	0.71	(0.58)	0.84	(1.13)	3.71
HCAIX	1.28	0.15	0.05	0.67	2.10	(1.36)	1.29	(1.98)	38.56
TRRDX	0.47	0.04	0.04	0.10	0.57	(0.50)	0.82	(0.92)	3.67
FRDPX	0.46	0.02	(0.03)	(0.05)	0.62	(0.46)	0.84	(0.92)	3.04
FRDAX	0.45	0.00	(0.02)	0.03	0.62	(0.46)	0.85	(0.91)	3.04
VHCAX	0.86	0.22	0.18	(1.54)	0.65	(0.90)	1.73	(1.47)	10.23
FDTRX	0.93	(0.10)	0.00	0.54	0.00	0.00	1.69	(2.60)	5.48

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