Telecommunications Correlations

Mutual Funds . USA . 
Fund . Telecommunications Portfolio Telecommunications
FSTCX Fund  USD 64.79  1.26  1.98%   
The current 90-days correlation between Telecommunications and Teton Westwood Mighty is 0.18 (i.e., Average diversification). The correlation of Telecommunications 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.

Telecommunications Correlation With Market

Poor diversification

The correlation between Telecommunications Portfolio T and DJI is 0.67 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Telecommunications Portfolio T 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 Telecommunications Portfolio Telecommunications. 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 private.

Moving together with Telecommunications Mutual Fund

  0.72FPTKX Fidelity Freedom 2015PairCorr
  0.7FPURX Fidelity PuritanPairCorr
  0.7FPUKX Fidelity PuritanPairCorr
  0.7FPXTX Fidelity PennsylvaniaPairCorr
  0.74FQIFX Fidelity Freedom IndexPairCorr
  0.75FQIPX Fidelity Freedom IndexPairCorr
  0.72FQITX Fidelity Salem StreetPairCorr
  0.76FQLSX Fidelity Flex FreedomPairCorr
  0.78FRBDX Fidelity Freedom 2070PairCorr
  0.78FRBEX Fidelity Freedom 2070PairCorr
  0.78FRBHX Fidelity Freedom 2070PairCorr
  0.76FRBJX Fidelity Advisor FreedomPairCorr
  0.78FRBKX Fidelity Advisor FreedomPairCorr
  0.78FRBLX Fidelity Advisor FreedomPairCorr
  0.78FRBNX Fidelity Advisor FreedomPairCorr
  0.76FRBOX Fidelity Advisor FreedomPairCorr
  0.78FRBPX Fidelity Advisor FreedomPairCorr
  0.78FRBQX Fidelity Flex FreedomPairCorr
  0.78FRBUX Fidelity Freedom IndexPairCorr
  0.78FRBVX Fidelity Freedom IndexPairCorr
  0.78FRBWX Fidelity Freedom IndexPairCorr
  0.78FRBYX Fidelity Freedom BlendPairCorr
  0.76FRBZX Fidelity Freedom BlendPairCorr
  0.73FRAGX Aggressive GrowthPairCorr
  0.78FRAMX Fidelity Income ReplPairCorr
  0.75FRASX Fidelity Income ReplPairCorr
  0.76FRCFX Fidelity Freedom BlendPairCorr
  0.78FRCHX Fidelity Freedom BlendPairCorr
  0.76FRCJX Fidelity Freedom BlendPairCorr
  0.78FRCKX Fidelity Freedom BlendPairCorr
  0.77FRCLX Fidelity Freedom BlendPairCorr
  0.78FRCNX Fidelity Freedom BlendPairCorr
  0.76FRCPX Fidelity Freedom BlendPairCorr
  0.75FRCQX Fidelity SustainablePairCorr
  0.78FRCRX Fidelity SustainablePairCorr
  0.78FRCVX Fidelity SustainablePairCorr
  0.78FRCWX Fidelity SustainablePairCorr
  0.78FRCYX Fidelity SustainablePairCorr
  0.78FRDCX Fidelity SustainablePairCorr
  0.78FRDDX Fidelity SustainablePairCorr

Related Correlations Analysis


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

FACEX
+ 0.99
DFELX
DFELX
+ 0.94
WLCTX
WEIMX
+ 0.94
WLCTX
MAPPX
+ 0.94
MPAIX
FACEX
+ 0.9
WLCTX
WEIMX
+ 0.86
DFELX
  

High negative correlations

BACAX
- 0.8
MPAIX
BACAX
- 0.76
MAPPX
WEIMX
- 0.53
MPAIX
WEIMX
- 0.5
MAPPX
MPAIX
- 0.47
WLCTX
MAPPX
- 0.45
WLCTX

Risk-Adjusted Indicators

There is a big difference between Telecommunications Mutual Fund performing well and Telecommunications 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 Telecommunications' 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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
WLCTX  0.70  0.25  0.36  0.29  0.06 
(0.91)
 1.34 
(1.13)
 12.34 
DFELX  0.78  0.19  0.20  0.31  0.55 
(0.97)
 1.23 
(1.23)
 17.48 
DFDPX  0.66 (0.15) 0.00 (0.14) 0.00 
 0.00 
 1.25 
(1.33)
 5.05 
EGIIX  0.85  0.17  0.16  1.02  0.65 
(1.08)
 1.24 
(1.28)
 19.26 
FACEX  1.19  0.28  0.24  0.51  0.74 
(1.68)
 1.33 
(1.91)
 32.12 
FWRLX  0.66 (0.04)(0.04)(0.01) 0.89 
(0.66)
 1.12 
(1.62)
 3.14 
MPAIX  1.14 (0.44) 0.00 (0.40) 0.00 
 0.00 
 1.79 
(3.36)
 6.41 
MAPPX  1.15 (0.32) 0.00 (3.13) 0.00 
 0.00 
 1.85 
(3.21)
 6.51 
BACAX  0.85  0.24  0.21  0.79  0.74 
(0.99)
 1.94 
(1.27)
 4.45 
WEIMX  0.78  0.20  0.20  1.09  0.56 
(0.98)
 2.12 
(1.39)
 3.94 

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