Software And Correlations
FSCSX Fund | USD 29.30 0.22 0.76% |
The current 90-days correlation between Software And It and Technology Portfolio Technology is 0.83 (i.e., Very poor diversification). The correlation of Software And 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.
Software And Correlation With Market
Poor diversification
The correlation between Software And It and DJI is 0.69 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Software And It and DJI in the same portfolio, assuming nothing else is changed.
Software |
Moving together with Software Mutual Fund
0.7 | VVPR | VivoPower International | PairCorr |
0.93 | FARO | FARO Technologies | PairCorr |
0.86 | DBD | Diebold Nixdorf, | PairCorr |
0.91 | GENVR | Gen Digital Contingent | PairCorr |
0.69 | BULLW | Webull Warrants | PairCorr |
0.61 | NVNIW | Nvni Group Limited | PairCorr |
0.7 | LGCL | Lucas GC Limited | PairCorr |
0.84 | LSPD | Lightspeed Commerce Earnings Call This Week | PairCorr |
0.8 | LYFT | LYFT Inc | PairCorr |
0.83 | HPE-PC | Hewlett Packard Ente | PairCorr |
0.79 | AVPTW | AvePoint | PairCorr |
Moving against Software Mutual Fund
0.79 | VSTE | Vast Renewables | PairCorr |
0.68 | VISL | Vislink Technologies Tech Boost | PairCorr |
0.56 | GNSS | Genasys | PairCorr |
0.54 | EXOD | Exodus Movement, | PairCorr |
0.52 | APCXW | AppTech Payments Corp | PairCorr |
0.46 | FEBO | Fenbo Holdings | PairCorr |
0.8 | NOVA | Sunnova Energy Inter | PairCorr |
0.76 | HPAIW | Helport AI Limited | PairCorr |
0.64 | JAMF | Jamf Holding | PairCorr |
0.64 | LHSW | Lianhe Sowell Intern Trending | PairCorr |
0.52 | MASK | 3 E Network | PairCorr |
0.34 | RDZNW | Roadzen | PairCorr |
Related Correlations Analysis
1.0 | 0.9 | 0.61 | 0.54 | FSPTX | ||
1.0 | 0.88 | 0.58 | 0.51 | FSELX | ||
0.9 | 0.88 | 0.73 | 0.68 | FSRPX | ||
0.61 | 0.58 | 0.73 | 0.73 | FBSOX | ||
0.54 | 0.51 | 0.68 | 0.73 | FSMEX | ||
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Risk-Adjusted Indicators
There is a big difference between Software Mutual Fund performing well and Software And 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 Software And'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 | ||
---|---|---|---|---|---|---|---|---|---|---|
FSPTX | 0.97 | 0.32 | 0.35 | 0.54 | 0.00 | 2.85 | 7.18 | |||
FSELX | 1.36 | 0.44 | 0.39 | 0.60 | 0.55 | 4.06 | 9.90 | |||
FSRPX | 0.71 | (0.01) | 0.00 | 0.22 | 0.51 | 1.86 | 6.28 | |||
FBSOX | 0.76 | (0.08) | (0.06) | 0.16 | 1.11 | 1.71 | 6.34 | |||
FSMEX | 0.72 | (0.11) | (0.11) | 0.12 | 0.79 | 2.01 | 5.35 |