Tekla World Correlations

THW Fund

USD 11.82 0.13 1.09%

The current 90-days correlation between Tekla World Healthcare and Vanguard Total Stock is 0.42 (i.e., Very weak diversification). The correlation of Tekla World 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.

Tekla World Correlation With Market

Weak diversification

The correlation between Tekla World Healthcare and DJI is 0.32 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Tekla World Healthcare and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Tekla World Healthcare. Also, note that the market value of any fund could be closely tied with the direction of predictive economic indicators such as signals in rate.

Moving together with Tekla Fund

0.69	VGTSX	Vanguard Total Inter	Pair Corr
0.68	VTIAX	Vanguard Total Inter	Pair Corr

Moving against Tekla Fund

0.87	LSHAX	Horizon Spin Off Steady Growth	Pair Corr
0.87	LSHUX	Horizon Spin Off Steady Growth	Pair Corr
0.69	VIGAX	Vanguard Growth Index	Pair Corr
0.67	VITSX	Vanguard Total Stock	Pair Corr
0.65	VTSAX	Vanguard Total Stock	Pair Corr
0.65	VFIAX	Vanguard 500 Index	Pair Corr
0.65	VTSMX	Vanguard Total Stock	Pair Corr
0.65	VSTSX	Vanguard Total Stock	Pair Corr
0.65	VSMPX	Vanguard Total Stock	Pair Corr
0.65	VFINX	Vanguard 500 Index	Pair Corr
0.63	VFFSX	Vanguard 500 Index	Pair Corr
0.63	RMQAX	Monthly Rebalance	Pair Corr
0.63	RMQHX	Monthly Rebalance	Pair Corr
0.54	SMPIX	Semiconductor Ultrasector	Pair Corr
0.5	SMPSX	Semiconductor Ultrasector	Pair Corr
0.49	RSNRX	Victory Global Natural	Pair Corr
0.49	RSNYX	Victory Global Natural	Pair Corr
0.48	RGNCX	Victory Global Natural	Pair Corr
0.38	FIKGX	Fidelity Advisor Sem	Pair Corr
0.73	GRSPX	Greenspring Fund Retail	Pair Corr
0.71	LTFOX	Lord Abbett Affiliated	Pair Corr
0.68	SMERX	Invesco Small Cap	Pair Corr
0.65	RQECX	Resq Dynamic Allocation	Pair Corr
0.63	AGTHX	Growth Fund	Pair Corr
0.63	INDEX	Sp 500 Equal	Pair Corr
0.62	RCILX	Alternative Credit Income	Pair Corr
0.58	FPURX	Fidelity Puritan	Pair Corr
0.58	SCRYX	Small Cap Core	Pair Corr
0.57	WBCIX	William Blair Small	Pair Corr
0.57	RWSIX	Redwood Systematic Macro	Pair Corr
0.57	FBALX	Fidelity Balanced	Pair Corr
0.55	VWELX	Vanguard Wellington	Pair Corr
0.55	VTMFX	Vanguard Tax Managed	Pair Corr
0.53	LLPFX	Longleaf Partners	Pair Corr
0.51	GAB	Gabelli Equity Trust	Pair Corr
0.5	FEMDX	Franklin Emerging Market	Pair Corr
0.47	DPG	Duff And Phelps	Pair Corr

Related Correlations Analysis

	VTSAX	VFIAX	VTSMX	VITSX	VSTSX	VSMPX	VFINX	VFFSX	VGTSX	VTIAX
VTSAX		0.95	1.0	0.96	1.0	1.0	0.95	1.0	-0.1	-0.1	VTSAX
VFIAX	0.95		0.95	1.0	0.95	0.95	1.0	0.95	-0.12	-0.12	VFIAX
VTSMX	1.0	0.95		0.96	1.0	1.0	0.95	1.0	-0.1	-0.1	VTSMX
VITSX	0.96	1.0	0.96		0.96	0.96	1.0	0.95	-0.15	-0.15	VITSX
VSTSX	1.0	0.95	1.0	0.96		1.0	0.95	1.0	-0.1	-0.1	VSTSX
VSMPX	1.0	0.95	1.0	0.96	1.0		0.95	1.0	-0.1	-0.1	VSMPX
VFINX	0.95	1.0	0.95	1.0	0.95	0.95		0.95	-0.12	-0.12	VFINX
VFFSX	1.0	0.95	1.0	0.95	1.0	1.0	0.95		-0.07	-0.06	VFFSX
VGTSX	-0.1	-0.12	-0.1	-0.15	-0.1	-0.1	-0.12	-0.07		1.0	VGTSX
VTIAX	-0.1	-0.12	-0.1	-0.15	-0.1	-0.1	-0.12	-0.06	1.0		VTIAX
	VTSAX	VFIAX	VTSMX	VITSX	VSTSX	VSMPX	VFINX	VFFSX	VGTSX	VTIAX

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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

VTSMX	+ 1.0	VTSAX
VSTSX	+ 1.0	VTSAX
VSMPX	+ 1.0	VTSAX
VFFSX	+ 1.0	VTSAX
VITSX	+ 1.0	VFIAX
VFINX	+ 1.0	VFIAX

High negative correlations

VTIAX	- 0.15	VITSX
VGTSX	- 0.15	VITSX
VTIAX	- 0.12	VFINX
VGTSX	- 0.12	VFINX
VTIAX	- 0.12	VFIAX
VGTSX	- 0.12	VFIAX

Risk-Adjusted Indicators

There is a big difference between Tekla Fund performing well and Tekla World 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 Tekla World'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
VTSAX	0.59	0.00	0.00	0.10	0.66	(0.63)	1.29	(1.31)	4.11
VFIAX	0.57	0.09	(0.02)	(1.35)	0.68	(0.57)	1.17	(1.31)	3.84
VTSMX	0.59	0.00	0.00	0.10	0.66	(0.62)	1.29	(1.31)	4.11
VITSX	0.59	0.10	(0.01)	(1.89)	0.67	(0.62)	1.30	(1.31)	4.11
VSTSX	0.59	0.00	0.00	0.10	0.66	(0.63)	1.29	(1.31)	4.11
VSMPX	0.59	0.00	0.00	0.10	0.66	(0.63)	1.29	(1.30)	4.11
VFINX	0.57	0.09	(0.02)	(1.35)	0.68	(0.59)	1.17	(1.31)	3.84
VFFSX	0.57	0.00	(0.02)	0.10	0.68	(0.58)	1.17	(1.31)	3.84
VGTSX	0.64	(0.10)	0.00	(0.10)	0.00	0.00	1.45	(1.56)	4.09
VTIAX	0.64	(0.10)	0.00	(0.10)	0.00	0.00	1.44	(1.59)	4.11

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