Global Technology Correlations

JGLTX Fund

USD 21.49 0.28 1.32%

The current 90-days correlation between Global Technology and T Rowe Price is 0.66 (i.e., Poor diversification). The correlation of Global Technology 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.

Global Technology Correlation With Market

Average diversification

The correlation between Global Technology Portfolio and DJI is 0.13 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Global Technology Portfolio 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 Global Technology Portfolio. 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 Global Mutual Fund

0.78

FUJIY

FUJIFILM Holdings Corp

Pair Corr

Moving against Global Mutual Fund

0.62	EVOL	Evolving Systems	Pair Corr
0.6	FOXX	Foxx Development Holdings Downward Rally	Pair Corr
0.58	FAASW	DigiAsia Corp Symbol Change	Pair Corr
0.55	DLPX	Delphax Technologies	Pair Corr
0.48	VHAI	VHAI	Pair Corr
0.46	VIDE	Video Display Earnings Call This Week	Pair Corr
0.39	VEEA	Veea Inc Symbol Change	Pair Corr
0.31	SBIGW	SpringBig Holdings	Pair Corr
0.63	WCT	Wellchange Holdings	Pair Corr
0.58	VEEAW	Veea Inc Symbol Change	Pair Corr
0.54	MINM	Minim Inc	Pair Corr
0.5	GETR	Getaround	Pair Corr
0.39	KBNT	Kubient	Pair Corr
0.37	ZPTAW	Zapata Computing Holdings	Pair Corr
0.37	ZPTA	Zapata Computing Holdings Symbol Change	Pair Corr

Related Correlations Analysis

	PRNHX	AGTFX	LGLSX	ARTSX	SRGAX	HGOFX	UPDDX
PRNHX		0.83	0.48	0.89	0.77	0.3	0.26	PRNHX
AGTFX	0.83		0.09	0.84	0.98	-0.03	0.01	AGTFX
LGLSX	0.48	0.09		0.2	0.04	0.95	0.79	LGLSX
ARTSX	0.89	0.84	0.2		0.83	0.04	0.16	ARTSX
SRGAX	0.77	0.98	0.04	0.83		-0.05	0.02	SRGAX
HGOFX	0.3	-0.03	0.95	0.04	-0.05		0.85	HGOFX
UPDDX	0.26	0.01	0.79	0.16	0.02	0.85		UPDDX
	PRNHX	AGTFX	LGLSX	ARTSX	SRGAX	HGOFX	UPDDX

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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

SRGAX	+ 0.98	AGTFX
HGOFX	+ 0.95	LGLSX
ARTSX	+ 0.89	PRNHX
UPDDX	+ 0.85	HGOFX
ARTSX	+ 0.84	AGTFX
AGTFX	+ 0.83	PRNHX

High negative correlations

HGOFX	- 0.05	SRGAX
HGOFX	- 0.03	AGTFX

Risk-Adjusted Indicators

There is a big difference between Global Mutual Fund performing well and Global Technology 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 Global Technology's 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
PRNHX	0.85	0.01	0.00	0.03	1.20	(0.85)	1.69	(1.60)	7.56
AGTFX	0.52	(0.04)	0.00	(0.09)	0.00	0.00	0.98	(0.99)	4.38
LGLSX	1.05	0.17	0.10	0.35	1.33	(1.04)	2.43	(2.37)	7.49
ARTSX	1.05	(0.01)	(0.01)	(0.01)	1.72	(0.94)	2.14	(2.17)	8.55
SRGAX	0.44	(0.04)	0.00	(0.12)	0.00	0.00	0.81	(1.03)	4.19
HGOFX	0.89	0.09	0.06	0.28	1.21	(0.86)	1.92	(1.93)	5.92
UPDDX	1.29	0.11	0.06	0.73	1.45	(1.41)	2.81	(2.59)	8.50

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