Wireless Portfolio Correlations

FWRLX Fund

USD 11.97 0.04 0.34%

The current 90-days correlation between Wireless Portfolio and Telecommunications Portfolio Telecommunications is 0.78 (i.e., Poor diversification). The correlation of Wireless Portfolio 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.

Wireless Portfolio Correlation With Market

Poor diversification

The correlation between Wireless Portfolio Wireless and DJI is 0.76 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Wireless Portfolio Wireless and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Wireless Portfolio Wireless. 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 industry.

Related Correlations Analysis

	FSTCX	EXBAX	QIBGX	DISMX	SEVPX	CAMOX	HSTIX	AUUCX
FSTCX		0.28	0.14	0.46	0.0	0.26	0.34	0.15	FSTCX
EXBAX	0.28		0.77	0.8	0.0	0.97	0.57	0.72	EXBAX
QIBGX	0.14	0.77		0.85	0.0	0.73	0.83	0.98	QIBGX
DISMX	0.46	0.8	0.85		0.0	0.75	0.87	0.84	DISMX
SEVPX	0.0	0.0	0.0	0.0		0.0	0.0	0.0	SEVPX
CAMOX	0.26	0.97	0.73	0.75	0.0		0.52	0.68	CAMOX
HSTIX	0.34	0.57	0.83	0.87	0.0	0.52		0.87	HSTIX
AUUCX	0.15	0.72	0.98	0.84	0.0	0.68	0.87		AUUCX
	FSTCX	EXBAX	QIBGX	DISMX	SEVPX	CAMOX	HSTIX	AUUCX

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

AUUCX	+ 0.98	QIBGX
CAMOX	+ 0.97	EXBAX
HSTIX	+ 0.87	DISMX
AUUCX	+ 0.87	HSTIX
DISMX	+ 0.85	QIBGX
AUUCX	+ 0.84	DISMX

High negative correlations

AUUCX	- 0.0	SEVPX
HSTIX	- 0.0	SEVPX
CAMOX	- 0.0	SEVPX
SEVPX	- 0.0	DISMX
SEVPX	- 0.0	QIBGX
SEVPX	- 0.0	EXBAX

Risk-Adjusted Indicators

There is a big difference between Wireless Mutual Fund performing well and Wireless Portfolio 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 Wireless Portfolio'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
FSTCX	0.80	(0.10)	0.00	(0.01)	0.00	0.00	1.53	(1.81)	3.94
EXBAX	0.34	0.09	0.02	1.19	0.00	(0.47)	0.69	(0.44)	4.18
QIBGX	0.49	0.08	0.14	0.19	0.00	(0.63)	0.89	(0.73)	8.77
DISMX	0.55	0.04	0.01	0.15	0.61	(0.57)	1.18	(1.09)	2.55
SEVPX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
CAMOX	1.11	0.61	0.79	(1.37)	0.00	(1.53)	1.56	(0.92)	27.64
HSTIX	0.53	0.01	(0.02)	0.10	0.65	(0.55)	1.06	(1.15)	3.22
AUUCX	0.59	0.09	0.11	0.18	0.37	(0.68)	1.01	(0.94)	9.13

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