Telecommunications Correlations

Mutual Funds . USA . 
Fund . Telecommunications Portfolio Telecommunications
FSTCX Fund  USD 67.26  0.74  1.11%   
The current 90-days correlation between Telecommunications and Teton Westwood Mighty is 0.28 (i.e., Modest 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 unemployment.

Moving together with Telecommunications Mutual Fund

  0.83FPTKX Fidelity Freedom 2015PairCorr
  0.8FPURX Fidelity PuritanPairCorr
  0.8FPUKX Fidelity PuritanPairCorr
  0.91FPXTX Fidelity PennsylvaniaPairCorr
  0.87FQIFX Fidelity Freedom IndexPairCorr
  0.83FQIPX Fidelity Freedom IndexPairCorr
  0.77FQITX Fidelity Salem StreetPairCorr
  0.83FQLSX Fidelity Flex FreedomPairCorr
  0.86FRBDX Fidelity Freedom 2070PairCorr
  0.86FRBEX Fidelity Freedom 2070PairCorr
  0.86FRBHX Fidelity Freedom 2070PairCorr
  0.85FRBJX Fidelity Advisor FreedomPairCorr
  0.83FRBKX Fidelity Advisor FreedomPairCorr
  0.83FRBLX Fidelity Advisor FreedomPairCorr
  0.83FRBNX Fidelity Advisor FreedomPairCorr
  0.83FRBOX Fidelity Advisor FreedomPairCorr
  0.83FRBPX Fidelity Advisor FreedomPairCorr
  0.84FRBQX Fidelity Flex FreedomPairCorr
  0.83FRBUX Fidelity Freedom IndexPairCorr
  0.85FRBVX Fidelity Freedom IndexPairCorr
  0.83FRBWX Fidelity Freedom IndexPairCorr
  0.83FRBYX Fidelity Freedom BlendPairCorr
  0.84FRBZX Fidelity Freedom BlendPairCorr
  0.79FRAGX Aggressive GrowthPairCorr
  0.91FRAMX Fidelity Income ReplPairCorr
  0.91FRASX Fidelity Income ReplPairCorr
  0.85FRCFX Fidelity Freedom BlendPairCorr
  0.83FRCHX Fidelity Freedom BlendPairCorr
  0.84FRCJX Fidelity Freedom BlendPairCorr
  0.83FRCKX Fidelity Freedom BlendPairCorr
  0.82FRCLX Fidelity Freedom BlendPairCorr
  0.83FRCNX Fidelity Freedom BlendPairCorr
  0.84FRCPX Fidelity Freedom BlendPairCorr
  0.84FRCQX Fidelity SustainablePairCorr
  0.82FRCRX Fidelity SustainablePairCorr
  0.82FRCVX Fidelity SustainablePairCorr
  0.84FRCWX Fidelity SustainablePairCorr
  0.81FRCYX Fidelity SustainablePairCorr
  0.83FRDCX Fidelity SustainablePairCorr
  0.84FRDDX 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
+ 0.96
DFELX
MAPPX
+ 0.96
MPAIX
BACAX
+ 0.94
FWRLX
WEIMX
+ 0.92
WLCTX
WEIMX
+ 0.91
BACAX
MPAIX
+ 0.87
DFDPX
  

High negative correlations

BACAX
- 0.92
MAPPX
BACAX
- 0.92
MPAIX
BACAX
- 0.87
DFDPX
FWRLX
- 0.87
DFDPX
WEIMX
- 0.85
MAPPX
WEIMX
- 0.85
MPAIX

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  0.73  0.28  0.27  0.33  0.52 
(0.92)
 1.54 
(1.23)
 12.67 
DFELX  0.75  0.22  0.25  0.36  0.40 
(1.01)
 0.89 
(1.21)
 17.48 
DFDPX  0.67 (0.15) 0.00 (0.14) 0.00 
 0.00 
 1.27 
(2.00)
 5.05 
EGIIX  0.92  0.11  0.09  0.39  0.83 
(1.17)
 1.24 
(1.83)
 19.26 
FACEX  1.15  0.32  0.29  0.59  0.63 
(1.57)
 1.16 
(1.83)
 32.12 
FWRLX  0.62  0.10  0.10  0.20  0.64 
(0.68)
 1.18 
(1.02)
 3.14 
MPAIX  1.26 (0.18) 0.00 (0.11) 0.00 
 0.00 
 2.36 
(3.48)
 9.23 
MAPPX  1.29 (0.09) 0.00  0.27  0.00 
 0.00 
 2.39 
(3.50)
 9.26 
BACAX  0.90  0.36  0.30  21.30  0.67 
(1.06)
 1.95 
(1.53)
 4.45 
WEIMX  0.75  0.18  0.22  0.22  0.50 
(0.90)
 2.05 
(1.24)
 4.39 

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