Telecommunications Correlations

Mutual Funds USA . 
Fund . Telecommunications Portfolio Fidelity
FTUTX Fund  USD 56.95  0.28  0.49%   
The current 90-days correlation between Telecommunications and Advent Claymore Convertible is 0.11 (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

Average diversification

The correlation between Telecommunications Portfolio F and DJI is 0.11 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Telecommunications Portfolio F 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 Fidelity. 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 estimate.

Moving together with Telecommunications Mutual Fund

  0.92FPURX Fidelity PuritanPairCorr
  0.92FPUKX Fidelity PuritanPairCorr
  0.73FQIPX Fidelity Freedom IndexPairCorr
  0.75FQLSX Fidelity Flex FreedomPairCorr
  0.82FRAGX Aggressive GrowthPairCorr
  0.78FRGAX Growth Allocation IndexPairCorr
  0.76FRLPX Fidelity Freedom IndexPairCorr
  0.79FRPCX Fidelity Sai AlternativePairCorr
  0.75FAASX Fidelity Asset ManagerPairCorr
  0.76FAAIX Fidelity Asset ManagerPairCorr
  0.74FABLX Fidelity Advisor BalancedPairCorr
  0.72FABCX Fidelity Advisor BalancedPairCorr
  0.93FACVX Fidelity ConvertiblePairCorr
  0.92FACPX Fidelity Advisor SumerPairCorr
  0.84FACNX Fidelity CanadaPairCorr
  0.9FACGX Fidelity Advisor GrowthPairCorr

Moving against Telecommunications Mutual Fund

  0.66FQITX Fidelity Salem StreetPairCorr
  0.6FAERX Fidelity Advisor OverseasPairCorr
  0.45FADCX Fidelity Advisor DivPairCorr
  0.44FADIX Fidelity Advisor DivPairCorr
  0.35FACTX Fidelity Advisor HealthPairCorr
  0.34FACDX Fidelity Advisor HealthPairCorr

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   
VAADX
+ 0.99
LCFYX
CSFYX
+ 0.99
VAADX
CSFYX
+ 0.98
LCFYX
CSFYX
+ 0.92
ARBOX
VAADX
+ 0.9
ARBOX
LCFYX
+ 0.89
ARBOX
  
High negative correlations   
GCV
- 0.52
CCD
CCD
- 0.2
AVK
GCV
- 0.08
ARBOX

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.

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