Financial Industries Correlations

JFIFX Fund

USD 21.28 0.02 0.09%

The current 90-days correlation between Financial Industries and T Rowe Price is -0.14 (i.e., Good 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

Very poor diversification

The correlation between Financial Industries Fund and DJI is 0.85 (i.e., Very poor 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 Risk vs Return Analysis 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 census.

Moving together with FINANCIAL Mutual Fund

0.94	FRBAX	Regional Bank	Pair Corr
0.97	FRBCX	Regional Bank	Pair Corr
0.61	JQLBX	Multimanager Lifestyle	Pair Corr
0.75	JQLAX	Multimanager Lifestyle	Pair Corr
0.7	JQLGX	Multimanager Lifestyle	Pair Corr
0.97	JRBFX	Regional Bank	Pair Corr
0.8	JRETX	J Hancock Ii	Pair Corr
0.94	JRGRX	Regional Bank	Pair Corr
0.74	JRLQX	Retirement Living Through	Pair Corr
0.73	JRLUX	Multi Index 2045	Pair Corr
0.74	JRLWX	Retirement Living Through	Pair Corr
0.74	JRLVX	Retirement Living Through	Pair Corr
0.74	JRLZX	Retirement Living Through	Pair Corr
0.8	JROUX	J Hancock Ii	Pair Corr
0.76	JRODX	J Hancock Ii	Pair Corr
0.77	JAAFX	Jhancock Multi Index	Pair Corr
0.76	JAAJX	Jhancock Multi Index	Pair Corr
0.62	JAAIX	Alternative Asset	Pair Corr
0.77	JAAKX	Jhancock Multi Index	Pair Corr
0.66	JAARX	Alternative Asset	Pair Corr
0.63	JAASX	Alternative Asset	Pair Corr
0.8	JAAVX	Jhancock Multimanager	Pair Corr
0.61	JRTKX	Retirement Living Through	Pair Corr

Related Correlations Analysis

	TFIFX	RPFGX	444859BR2	AQUI	BRRAY	MSTSX	LBHIX	ABHYX	SCAXF
TFIFX		0.97	-0.72	0.0	-0.07	0.43	0.53	-0.17	-0.68	TFIFX
RPFGX	0.97		-0.69	0.0	-0.04	0.48	0.53	-0.17	-0.66	RPFGX
444859BR2	-0.72	-0.69		0.0	0.22	-0.53	-0.54	-0.03	0.41	444859BR2
AQUI	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	AQUI
BRRAY	-0.07	-0.04	0.22	0.0		-0.45	-0.35	-0.4	-0.04	BRRAY
MSTSX	0.43	0.48	-0.53	0.0	-0.45		0.67	0.34	-0.02	MSTSX
LBHIX	0.53	0.53	-0.54	0.0	-0.35	0.67		0.51	-0.29	LBHIX
ABHYX	-0.17	-0.17	-0.03	0.0	-0.4	0.34	0.51		-0.05	ABHYX
SCAXF	-0.68	-0.66	0.41	0.0	-0.04	-0.02	-0.29	-0.05		SCAXF
	TFIFX	RPFGX	444859BR2	AQUI	BRRAY	MSTSX	LBHIX	ABHYX	SCAXF

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

RPFGX	+ 0.97	TFIFX
LBHIX	+ 0.67	MSTSX
LBHIX	+ 0.53	TFIFX
LBHIX	+ 0.53	RPFGX
ABHYX	+ 0.51	LBHIX
MSTSX	+ 0.48	RPFGX

High negative correlations

444859BR2	- 0.72	TFIFX
444859BR2	- 0.69	RPFGX
SCAXF	- 0.68	TFIFX
SCAXF	- 0.66	RPFGX
LBHIX	- 0.54	444859BR2
MSTSX	- 0.53	444859BR2

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
TFIFX	0.80	0.25	0.14	(2.17)	0.53	(0.94)	1.68	(1.29)	8.41
RPFGX	0.80	0.05	0.11	0.16	0.51	(1.00)	1.85	(1.40)	7.59
444859BR2	1.35	(0.09)	0.00	(0.14)	0.00	0.00	5.93	(5.79)	16.62
AQUI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
BRRAY	1.27	(0.13)	0.00	0.01	0.00	0.00	0.00	(2.98)	34.02
MSTSX	0.49	(0.04)	(0.13)	0.06	0.52	(0.61)	1.21	(1.02)	2.80
LBHIX	0.11	0.01	(0.42)	0.38	0.00	(0.29)	0.24	(0.24)	0.96
ABHYX	0.17	0.00	(0.24)	0.19	0.25	(0.24)	0.34	(0.33)	1.91
SCAXF	0.70	(0.41)	0.00	(0.98)	0.00	0.00	0.00	0.00	23.47

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