Science Technology Correlations

USTCX Fund

USD 30.94 0.38 1.24%

The current 90-days correlation between Science Technology and Small Cap Stock is 0.76 (i.e., Poor diversification). The correlation of Science 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.

Science Technology Correlation With Market

Very weak diversification

The correlation between Science Technology Fund and DJI is 0.42 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Science Technology Fund 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 Science Technology 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 unemployment.

Moving together with Science Mutual Fund

0.92	RSGFX	Victory Rs Select	Pair Corr
0.67	RSFMX	Victory Floating Rate	Pair Corr
0.82	URITX	International Fund	Pair Corr
0.71	URSIX	Target Retirement 2060	Pair Corr
0.67	USBAX	Usaa Ultra Short	Pair Corr
0.69	UASBX	Short Term Bond	Pair Corr
0.79	MCISX	Victory Trivalent	Pair Corr
0.79	VFFYX	Victory Incore	Pair Corr
0.96	USWGX	World Growth	Pair Corr
0.98	MUXYX	Victory Sp 500	Pair Corr
0.67	UTESX	Tax Exempt Short	Pair Corr
0.7	RHYCX	Victory High Yield	Pair Corr

Moving against Science Mutual Fund

0.59	SBFMX	Victory Portfolios	Pair Corr
0.41	MMMMX	Victory Integrity	Pair Corr
0.41	VFFMX	Victory Incore	Pair Corr
0.36	GUTEX	Victory Tax Exempt	Pair Corr
0.38	RHMMX	Victory High Income	Pair Corr

Related Correlations Analysis

	USCAX	EKBCX	FARIX	RPFFX	QDARX	HRIDX
USCAX		0.92	0.87	0.98	0.71	0.88	USCAX
EKBCX	0.92		0.92	0.92	0.8	0.95	EKBCX
FARIX	0.87	0.92		0.87	0.79	0.92	FARIX
RPFFX	0.98	0.92	0.87		0.72	0.88	RPFFX
QDARX	0.71	0.8	0.79	0.72		0.7	QDARX
HRIDX	0.88	0.95	0.92	0.88	0.7		HRIDX
	USCAX	EKBCX	FARIX	RPFFX	QDARX	HRIDX

Risk-Adjusted Indicators

There is a big difference between Science Mutual Fund performing well and Science 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 Science 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
USCAX	0.95	0.12	0.11	0.20	0.94	(1.04)	2.03	(1.93)	6.91
EKBCX	1.01	0.18	0.14	0.26	1.03	(1.14)	1.77	(1.98)	10.58
FARIX	0.52	0.08	0.05	0.30	0.41	(0.61)	1.07	(0.95)	3.57
RPFFX	1.09	0.19	0.23	0.20	0.64	(1.32)	2.12	(1.39)	15.69
QDARX	0.06	0.02	(0.62)	0.68	0.00	(0.11)	0.16	(0.08)	0.39
HRIDX	0.66	0.10	0.10	0.20	0.58	(0.78)	1.29	(1.12)	6.08

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