Consumer Goods Correlations

Mutual Funds . USA . 
Fund . Consumer Goods Ultrasector
CNPSX Fund  USD 70.10  0.48  0.69%   
The current 90-days correlation between Consumer Goods Ultra and Consumer Goods Ultrasector is 1.0 (i.e., No risk reduction). The correlation of Consumer Goods 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.

Consumer Goods Correlation With Market

Average diversification

The correlation between Consumer Goods Ultrasector and DJI is 0.14 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Consumer Goods Ultrasector 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 Consumer Goods Ultrasector. 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 Consumer Mutual Fund

  0.86GVPIX Us Government PlusPairCorr
  0.86GVPSX Us Government PlusPairCorr
  0.66UKPSX Ultrashort Japan ProfundPairCorr
  0.66UKPIX Ultrashort Japan ProfundPairCorr

Moving against Consumer Mutual Fund

  0.79SRPIX Short Real EstatePairCorr
  0.65SRPSX Short Real EstatePairCorr
  0.65LGPIX Large Cap GrowthPairCorr
  0.65LGPSX Profunds Large CapPairCorr
  0.65OTPIX Nasdaq 100 ProfundPairCorr
  0.64OTPSX Nasdaq 100 ProfundPairCorr
  0.6PHPIX Pharmaceuticals UltrasectorPairCorr
  0.59TEPIX Technology UltrasectorPairCorr
  0.58TEPSX Technology UltrasectorPairCorr
  0.58UJPIX Ultrajapan ProfundPairCorr
  0.55UJPSX Ultrajapan ProfundPairCorr
  0.55ENPIX Oil Gas UltrasectorPairCorr
  0.54ENPSX Oil Gas UltrasectorPairCorr
  0.52MLPSX Mid Cap ValuePairCorr
  0.52MLPIX Mid Cap ValuePairCorr
  0.51BTCFX Bitcoin Strategy ProfundPairCorr
  0.86RRPSX Rising Rates OpportunityPairCorr
  0.86RRPIX Rising Rates OpportunityPairCorr
  0.82RTPSX Rising Rates OpportunityPairCorr
  0.68WCPIX Mobile TelecommunicatioPairCorr
  0.68WCPSX Mobile TelecommunicatioPairCorr
  0.66INPIX Internet UltrasectorPairCorr
  0.64INPSX Internet UltrasectorPairCorr
  0.63UOPIX Ultra Nasdaq 100PairCorr
  0.63UOPSX Ultranasdaq 100 ProfundPairCorr
  0.6PHPSX Pharmaceuticals UltrasectorPairCorr
  0.58ULPIX Ultrabull ProfundPairCorr
  0.57ULPSX Ultrabull ProfundPairCorr
  0.54CYPIX Consumer Services Steady GrowthPairCorr
  0.53CYPSX Consumer Services Steady GrowthPairCorr
  0.47UMPSX Ultramid Cap Profund Steady GrowthPairCorr
  0.47UMPIX Ultramid Cap Profund Steady GrowthPairCorr

Related Correlations Analysis

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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   
INPSX
+ 0.94
CYPSX
INPSX
+ 0.93
UMPSX
UOPSX
+ 0.93
INPSX
UOPSX
+ 0.9
UMPSX
UMPSX
+ 0.89
CYPSX
UOPSX
+ 0.84
CYPSX
  
High negative correlations   
INPSX
- 0.63
CNPIX
UOPSX
- 0.62
CNPIX
CYPSX
- 0.51
CNPIX
UMPSX
- 0.45
CNPIX

Risk-Adjusted Indicators

There is a big difference between Consumer Mutual Fund performing well and Consumer Goods 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 Consumer Goods' 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.

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