Banks Ultrasector Correlations

BKPSX Fund

USD 57.76 1.12 1.98%

The current 90-days correlation between Banks Ultrasector Profund and Glg Intl Small is 0.33 (i.e., Weak 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

Modest diversification

The correlation between Banks Ultrasector Profund and DJI is 0.21 (i.e., Modest 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

0.97	MLPSX	Mid Cap Value	Pair Corr
0.97	MLPIX	Mid Cap Value	Pair Corr
0.69	ENPSX	Oil Gas Ultrasector Steady Growth	Pair Corr
0.69	ENPIX	Oil Gas Ultrasector Steady Growth	Pair Corr
0.79	ULPIX	Ultrabull Profund	Pair Corr
0.79	ULPSX	Ultrabull Profund	Pair Corr
0.66	OEPSX	Oil Equipment Services Steady Growth	Pair Corr
0.66	OEPIX	Oil Equipment Services Steady Growth	Pair Corr
0.96	SVPIX	Small Cap Value	Pair Corr
0.94	UMPSX	Ultramid Cap Profund Steady Growth	Pair Corr
0.94	UMPIX	Ultramid Cap Profund Steady Growth	Pair Corr

Moving against Banks Mutual Fund

0.96	UIPIX	Ultrashort Mid Cap	Pair Corr
0.96	UIPSX	Ultrashort Mid Cap	Pair Corr
0.77	BRPSX	Bear Profund Bear	Pair Corr
0.76	BRPIX	Bear Profund Bear	Pair Corr
0.45	SRPSX	Short Real Estate	Pair Corr
0.44	SRPIX	Short Real Estate	Pair Corr
0.4	RRPSX	Rising Rates Opportunity Potential Growth	Pair Corr
0.39	RRPIX	Rising Rates Opportunity Potential Growth	Pair Corr
0.77	URPIX	Ultrabear Profund	Pair Corr
0.77	URPSX	Ultrabear Profund	Pair Corr

Related Correlations Analysis

	GLVIX	PSBMX	DFDSX	VYRDX	NESGX	QUAZX
GLVIX		0.38	0.46	0.36	0.83	0.58	GLVIX
PSBMX	0.38		0.95	0.96	0.49	0.92	PSBMX
DFDSX	0.46	0.95		0.97	0.54	0.95	DFDSX
VYRDX	0.36	0.96	0.97		0.51	0.94	VYRDX
NESGX	0.83	0.49	0.54	0.51		0.71	NESGX
QUAZX	0.58	0.92	0.95	0.94	0.71		QUAZX
	GLVIX	PSBMX	DFDSX	VYRDX	NESGX	QUAZX

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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
GLVIX	0.75	0.01	0.00	0.08	1.02	(0.80)	1.35	(1.73)	5.26
PSBMX	0.86	(0.01)	(0.01)	0.00	1.22	(0.85)	1.48	(1.54)	9.63
DFDSX	0.76	(0.02)	(0.03)	(0.02)	1.01	(0.81)	1.57	(1.40)	8.01
VYRDX	0.80	0.02	0.01	0.06	1.04	(0.89)	1.66	(1.51)	10.40
NESGX	1.22	0.07	0.05	0.14	1.36	(1.35)	2.41	(2.29)	7.89
QUAZX	1.00	0.03	0.01	0.06	1.35	(0.99)	1.93	(2.08)	9.06

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