Computers Portfolio Correlations

FDCPX Fund

USD 157.14 3.68 2.40%

The current 90-days correlation between Computers Portfolio and Goldman Sachs Nasdaq 100 is 0.76 (i.e., Poor diversification). The correlation of Computers Portfolio 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.

Computers Portfolio Correlation With Market

Poor diversification

The correlation between Computers Portfolio Puters and DJI is 0.7 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Computers Portfolio Puters and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Computers Portfolio Puters. 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 metropolitan statistical area.

Moving together with Computers Mutual Fund

0.92	FPTKX	Fidelity Freedom 2015	Pair Corr
0.91	FPURX	Fidelity Puritan	Pair Corr
0.91	FPUKX	Fidelity Puritan	Pair Corr
0.95	FPXTX	Fidelity Pennsylvania	Pair Corr
0.96	FQIFX	Fidelity Freedom Index	Pair Corr
0.93	FQIPX	Fidelity Freedom Index	Pair Corr
0.87	FQITX	Fidelity Salem Street	Pair Corr
0.93	FQLSX	Fidelity Flex Freedom	Pair Corr
0.92	FRBDX	Fidelity Freedom 2070	Pair Corr
0.92	FRBEX	Fidelity Freedom 2070	Pair Corr
0.92	FRBHX	Fidelity Freedom 2070	Pair Corr
0.91	FRBJX	Fidelity Advisor Freedom	Pair Corr
0.91	FRBKX	Fidelity Advisor Freedom	Pair Corr
0.91	FRBLX	Fidelity Advisor Freedom	Pair Corr
0.91	FRBNX	Fidelity Advisor Freedom	Pair Corr
0.91	FRBOX	Fidelity Advisor Freedom	Pair Corr
0.91	FRBPX	Fidelity Advisor Freedom	Pair Corr
0.92	FRBQX	Fidelity Flex Freedom	Pair Corr
0.91	FRBUX	Fidelity Freedom Index	Pair Corr
0.9	FRBVX	Fidelity Freedom Index	Pair Corr
0.93	FRBWX	Fidelity Freedom Index	Pair Corr
0.92	FRBYX	Fidelity Freedom Blend	Pair Corr
0.92	FRBZX	Fidelity Freedom Blend	Pair Corr
0.88	FRAGX	Aggressive Growth	Pair Corr
0.95	FRAMX	Fidelity Income Repl	Pair Corr
0.97	FRASX	Fidelity Income Repl	Pair Corr
0.93	FRCFX	Fidelity Freedom Blend	Pair Corr
0.91	FRCHX	Fidelity Freedom Blend	Pair Corr
0.91	FRCJX	Fidelity Freedom Blend	Pair Corr
0.91	FRCKX	Fidelity Freedom Blend	Pair Corr
0.92	FRCLX	Fidelity Freedom Blend	Pair Corr
0.92	FRCNX	Fidelity Freedom Blend	Pair Corr
0.92	FRCPX	Fidelity Freedom Blend	Pair Corr
0.9	FRCQX	Fidelity Sustainable	Pair Corr
0.9	FRCRX	Fidelity Sustainable	Pair Corr
0.9	FRCVX	Fidelity Sustainable	Pair Corr
0.9	FRCWX	Fidelity Sustainable	Pair Corr
0.9	FRCYX	Fidelity Sustainable	Pair Corr
0.89	FRDCX	Fidelity Sustainable	Pair Corr
0.9	FRDDX	Fidelity Sustainable	Pair Corr

Related Correlations Analysis

	FBSOX	FDFAX	FIDSX	FEDDX	FCYIX	FHKCX	DFGX	GPIQ
FBSOX		-0.96	0.46	-0.9	0.0	-0.83	-0.9	0.31	FBSOX
FDFAX	-0.96		-0.27	0.94	0.04	0.89	0.89	-0.24	FDFAX
FIDSX	0.46	-0.27		-0.14	0.26	-0.1	-0.39	0.31	FIDSX
FEDDX	-0.9	0.94	-0.14		0.17	0.97	0.89	0.0	FEDDX
FCYIX	0.0	0.04	0.26	0.17		0.28	0.02	0.29	FCYIX
FHKCX	-0.83	0.89	-0.1	0.97	0.28		0.85	0.09	FHKCX
DFGX	-0.9	0.89	-0.39	0.89	0.02	0.85		-0.15	DFGX
GPIQ	0.31	-0.24	0.31	0.0	0.29	0.09	-0.15		GPIQ
	FBSOX	FDFAX	FIDSX	FEDDX	FCYIX	FHKCX	DFGX	GPIQ

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

FHKCX	+ 0.97	FEDDX
FEDDX	+ 0.94	FDFAX
FHKCX	+ 0.89	FDFAX
DFGX	+ 0.89	FDFAX
DFGX	+ 0.89	FEDDX
DFGX	+ 0.85	FHKCX

High negative correlations

FDFAX	- 0.96	FBSOX
DFGX	- 0.9	FBSOX
FEDDX	- 0.9	FBSOX
FHKCX	- 0.83	FBSOX
DFGX	- 0.39	FIDSX
FIDSX	- 0.27	FDFAX

Risk-Adjusted Indicators

There is a big difference between Computers Mutual Fund performing well and Computers Portfolio 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 Computers Portfolio'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
FBSOX	1.03	(0.25)	0.00	(0.16)	0.00	0.00	2.01	(2.77)	8.15
FDFAX	0.65	0.13	0.15	1.55	0.51	(0.75)	1.30	(1.10)	4.03
FIDSX	0.84	(0.03)	(0.02)	0.01	1.21	(0.84)	1.74	(1.82)	6.16
FEDDX	0.51	0.13	0.10	0.44	0.72	(0.55)	1.11	(0.76)	5.01
FCYIX	0.51	(0.01)	(0.04)	(0.15)	0.64	(0.85)	1.57	(1.10)	4.14
FHKCX	0.92	0.20	0.12	(6.47)	1.05	(1.01)	1.81	(1.54)	5.04
DFGX	0.14	0.00	(0.15)	0.05	0.16	(0.13)	0.24	(0.30)	0.84
GPIQ	0.63	(0.01)	(0.02)	0.02	0.88	(0.62)	1.22	(1.54)	3.93

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