Banks Ultrasector Correlations

BKPSX Fund

USD 55.00 0.17 0.31%

The current 90-days correlation between Banks Ultrasector Profund and Multisector Bond Sma is -0.03 (i.e., Good diversification). The correlation of Banks 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.

Banks Ultrasector Correlation With Market

Very weak diversification

The correlation between Banks Ultrasector Profund and DJI is 0.57 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Banks Ultrasector Profund 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 Banks 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 state.

Moving together with Banks Mutual Fund

0.74	GVPIX	Us Government Plus Steady Growth	Pair Corr
0.9	REPIX	Real Estate Ultrasector	Pair Corr
0.61	BIPIX	Biotechnology Ultrasector	Pair Corr
0.89	UAPIX	Ultrasmall Cap Profund	Pair Corr
0.9	SLPIX	Small Cap Profund	Pair Corr
0.61	HCPIX	Health Care Ultrasector	Pair Corr
0.78	FNPIX	Financials Ultrasector	Pair Corr
0.64	RYCCX	Nasdaq 100 2x	Pair Corr
0.75	RMQHX	Monthly Rebalance	Pair Corr
0.75	RMQAX	Monthly Rebalance	Pair Corr
0.75	RMQCX	Monthly Rebalance	Pair Corr
0.67	LIIAX	Columbia Porate Income	Pair Corr
0.66	SRINX	Columbia Porate Income	Pair Corr
0.67	WRHIX	Ivy High Income	Pair Corr
0.68	WHIAX	Ivy High Income	Pair Corr
0.68	IHIFX	Ivy High Income	Pair Corr
0.68	IVHIX	Ivy High Income	Pair Corr

Moving against Banks Mutual Fund

0.91	SRPIX	Short Real Estate	Pair Corr
0.35	SPPIX	Short Precious Metals	Pair Corr
0.69	RYIFX	Guggenheim Managed	Pair Corr
0.49	PYLMX	Payden Limited Maturity	Pair Corr
0.32	RULFX	Rbc Ultra Short	Pair Corr

Related Correlations Analysis

	MBSAX	MFIRX	BXDCX	ARTFX	SWSFX	TSDCX	BUFHX	GHVIX
MBSAX		0.76	0.63	0.7	0.51	0.47	0.58	0.88	MBSAX
MFIRX	0.76		0.93	0.91	0.89	0.86	0.93	0.92	MFIRX
BXDCX	0.63	0.93		0.95	0.9	0.96	0.94	0.85	BXDCX
ARTFX	0.7	0.91	0.95		0.84	0.93	0.94	0.92	ARTFX
SWSFX	0.51	0.89	0.9	0.84		0.9	0.93	0.75	SWSFX
TSDCX	0.47	0.86	0.96	0.93	0.9		0.94	0.76	TSDCX
BUFHX	0.58	0.93	0.94	0.94	0.93	0.94		0.87	BUFHX
GHVIX	0.88	0.92	0.85	0.92	0.75	0.76	0.87		GHVIX
	MBSAX	MFIRX	BXDCX	ARTFX	SWSFX	TSDCX	BUFHX	GHVIX

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Risk-Adjusted Indicators

There is a big difference between Banks Mutual Fund performing well and Banks 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 Banks 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
MBSAX	0.19	0.02	0.05	(0.46)	0.19	(0.21)	0.37	(0.30)	1.34
MFIRX	0.11	0.03	0.08	0.62	0.00	(0.21)	0.19	(0.19)	0.76
BXDCX	0.08	0.01	0.05	(0.30)	0.00	(0.15)	0.22	(0.11)	0.65
ARTFX	0.11	0.02	0.07	(1.24)	0.00	(0.20)	0.44	(0.22)	1.22
SWSFX	0.05	0.01	0.00	(0.84)	0.00	0.00	0.10	0.00	0.69
TSDCX	0.05	0.01	0.00	(1.52)	0.00	0.00	0.11	(0.11)	0.66
BUFHX	0.08	0.00	0.14	0.00	0.00	(0.12)	0.19	(0.09)	0.57
GHVIX	0.14	0.02	0.08	(1.97)	0.00	(0.17)	0.30	(0.24)	0.90

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