Telecommunications Correlations

Mutual Funds . USA . 
Fund . Telecommunications Portfolio Fidelity
FTUTX Fund  USD 53.90  0.72  1.35%   
The current 90-days correlation between Telecommunications and Multisector Bond Sma is 0.38 (i.e., Weak 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

Very weak diversification

The correlation between Telecommunications Portfolio F and DJI is 0.4 (i.e., Very weak 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

  0.78FPTKX Fidelity Freedom 2015PairCorr
  0.65FPURX Fidelity PuritanPairCorr
  0.64FPUKX Fidelity PuritanPairCorr
  0.76FPXTX Fidelity PennsylvaniaPairCorr
  0.82FQIFX Fidelity Freedom IndexPairCorr
  0.7FQIPX Fidelity Freedom IndexPairCorr
  0.81FQLSX Fidelity Flex FreedomPairCorr
  0.66FRAGX Aggressive GrowthPairCorr
  0.75FRAMX Fidelity Income ReplPairCorr
  0.76FRASX Fidelity Income ReplPairCorr
  0.68FRGAX Growth Allocation IndexPairCorr
  0.75FRESX Fidelity Real EstatePairCorr
  0.77FRIFX Fidelity Real EstatePairCorr
  0.75FRIMX Fidelity Income ReplPairCorr
  0.76FRINX Fidelity Real EstatePairCorr
  0.75FRIOX Fidelity Real EstatePairCorr
  0.77FRIQX Fidelity Real EstatePairCorr
  0.74FRHMX Fidelity Managed RetPairCorr
  0.74FRKMX Fidelity Managed RetPairCorr
  0.77FRIRX Fidelity Real EstatePairCorr
  0.69FRLPX Fidelity Freedom IndexPairCorr
  0.77FROGX Fidelity Municipal IncomePairCorr
  0.74FRQHX Fidelity Managed RetPairCorr
  0.75FRQIX Fidelity Income ReplPairCorr
  0.75FRQKX Fidelity Managed RetPairCorr
  0.75FRQAX Fidelity Income ReplPairCorr
  0.83FAASX Fidelity Asset ManagerPairCorr
  0.83FAAIX Fidelity Asset ManagerPairCorr
  0.81FACVX Fidelity ConvertiblePairCorr
  0.67FACTX Fidelity Advisor HealthPairCorr
  0.79FACNX Fidelity CanadaPairCorr
  0.74FACFX Fidelity Advisor FreedomPairCorr
  0.67FACDX Fidelity Advisor HealthPairCorr
  0.68FADTX Fidelity Advisor TecPairCorr

Moving against Telecommunications Mutual Fund

  0.45FRPCX Fidelity Sai AlternativePairCorr

Related Correlations Analysis

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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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