Financial Industries Correlations

FIDCX Fund

USD 15.96 0.03 0.19%

The current 90-days correlation between Financial Industries and Tfa Quantitative is 0.33 (i.e., Weak diversification). The correlation of Financial Industries 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.

Financial Industries Correlation With Market

Average diversification

The correlation between Financial Industries Fund and DJI is 0.17 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Financial Industries Fund 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 Financial Industries Fund. 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 main economic indicators.

Moving together with Financial Mutual Fund

0.95	FRBAX	Regional Bank	Pair Corr
0.99	FRBCX	Regional Bank	Pair Corr
0.73	JQLMX	Multimanager Lifestyle	Pair Corr
0.74	JQLBX	Multimanager Lifestyle	Pair Corr
0.81	JQLAX	Multimanager Lifestyle	Pair Corr
0.71	JQLCX	Multimanager Lifestyle	Pair Corr
0.79	JQLGX	Multimanager Lifestyle	Pair Corr
0.95	JRBFX	Regional Bank	Pair Corr
0.79	JRETX	J Hancock Ii	Pair Corr
0.99	JRGRX	Regional Bank	Pair Corr
0.76	JRLDX	Retirement Living Through	Pair Corr
0.75	JRLFX	Multi Index 2010	Pair Corr
0.77	JRLIX	Retirement Living Through	Pair Corr
0.76	JRLHX	Retirement Living Through	Pair Corr
0.77	JRLKX	Multi Index 2015	Pair Corr
0.77	JRLOX	Retirement Living Through	Pair Corr
0.65	JRLQX	Retirement Living Through	Pair Corr
0.77	JRLPX	Multi Index 2020	Pair Corr
0.65	JRLUX	Multi Index 2045	Pair Corr
0.62	JRLWX	Retirement Living Through	Pair Corr
0.62	JRLZX	Retirement Living Through	Pair Corr
0.63	JRODX	J Hancock Ii	Pair Corr
0.78	JAAFX	Jhancock Multi Index	Pair Corr
0.78	JAAJX	Jhancock Multi Index	Pair Corr
0.78	JAAKX	Jhancock Multi Index	Pair Corr
0.77	JRTAX	Retirement Living Through	Pair Corr
0.78	JRTDX	Multi Index 2025	Pair Corr
0.75	JRTGX	Retirement Living Through	Pair Corr
0.77	JRTFX	Retirement Living Through	Pair Corr
0.75	JRTIX	Multi Index 2030	Pair Corr
0.78	JAAVX	Jhancock Multimanager	Pair Corr
0.74	JRTJX	Retirement Living Through	Pair Corr
0.79	JAAWX	Jhancock Multimanager	Pair Corr
0.73	JRTMX	Multi Index 2035	Pair Corr
0.78	JAAZX	Jhancock Multimanager	Pair Corr
0.72	JRTNX	Retirement Living Through	Pair Corr

Related Correlations Analysis

	TFAQX	LANIX	GQESX	PRNHX	URNQX	BXDYX	CHICX
TFAQX		0.46	0.25	0.37	0.75	0.39	0.31	TFAQX
LANIX	0.46		0.84	0.77	0.58	-0.3	-0.44	LANIX
GQESX	0.25	0.84		0.74	0.35	-0.25	-0.45	GQESX
PRNHX	0.37	0.77	0.74		0.24	-0.41	-0.47	PRNHX
URNQX	0.75	0.58	0.35	0.24		0.46	0.32	URNQX
BXDYX	0.39	-0.3	-0.25	-0.41	0.46		0.93	BXDYX
CHICX	0.31	-0.44	-0.45	-0.47	0.32	0.93		CHICX
	TFAQX	LANIX	GQESX	PRNHX	URNQX	BXDYX	CHICX

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

CHICX	+ 0.93	BXDYX
GQESX	+ 0.84	LANIX
PRNHX	+ 0.77	LANIX
URNQX	+ 0.75	TFAQX
PRNHX	+ 0.74	GQESX
URNQX	+ 0.58	LANIX

High negative correlations

CHICX	- 0.47	PRNHX
CHICX	- 0.45	GQESX
CHICX	- 0.44	LANIX
BXDYX	- 0.41	PRNHX
BXDYX	- 0.3	LANIX
BXDYX	- 0.25	GQESX

Risk-Adjusted Indicators

There is a big difference between Financial Mutual Fund performing well and Financial Industries 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 Financial Industries' 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
TFAQX	0.80	0.06	0.01	0.24	1.04	(0.87)	1.51	(1.78)	5.95
LANIX	0.61	0.01	(0.05)	0.16	1.16	(0.57)	1.24	(1.43)	6.18
GQESX	0.56	0.01	(0.05)	0.29	1.11	(0.49)	1.23	(1.52)	5.13
PRNHX	0.86	0.04	0.01	0.16	1.19	(0.88)	1.80	(1.60)	7.56
URNQX	0.90	0.10	0.02	(1.47)	1.13	(0.99)	1.87	(2.37)	6.37
BXDYX	0.09	0.01	(0.54)	(0.52)	0.00	(0.18)	0.33	(0.11)	0.65
CHICX	0.10	0.02	(0.17)	0.68	0.00	(0.32)	0.63	(0.16)	1.27

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC