Technology Ultrasector Correlations

TEPSX Fund

USD 34.32 0.14 0.41%

The current 90-days correlation between Technology Ultrasector and T Rowe Price is 0.76 (i.e., Poor diversification). The correlation of Technology Ultrasector 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.

Technology Ultrasector Correlation With Market

Very weak diversification

The correlation between Technology Ultrasector Profund and DJI is 0.46 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Technology Ultrasector Profund 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 Technology Ultrasector Profund. 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 manufacturing.

Moving together with Technology Mutual Fund

0.65	TEPIX	Technology Ultrasector	Pair Corr
0.94	LGPIX	Large Cap Growth	Pair Corr
0.62	LGPSX	Profunds Large Cap	Pair Corr
0.64	OTPIX	Nasdaq 100 Profund	Pair Corr
0.64	UJPIX	Ultrajapan Profund	Pair Corr
0.64	OTPSX	Nasdaq 100 Profund	Pair Corr
0.66	UJPSX	Ultrajapan Profund	Pair Corr
0.8	INPIX	Internet Ultrasector	Pair Corr
0.8	INPSX	Internet Ultrasector	Pair Corr
0.91	ULPSX	Ultrabull Profund	Pair Corr
0.66	WCPIX	Mobile Telecommunicatio	Pair Corr
0.66	WCPSX	Mobile Telecommunicatio	Pair Corr

Moving against Technology Mutual Fund

0.62	UKPIX	Ultrashort Japan Profund	Pair Corr
0.61	UKPSX	Ultrashort Japan Profund	Pair Corr
0.58	UIPIX	Ultrashort Mid Cap	Pair Corr
0.56	UIPSX	Ultrashort Mid Cap	Pair Corr
0.56	BRPIX	Bear Profund Bear	Pair Corr
0.56	BRPSX	Bear Profund Bear	Pair Corr
0.58	RRPSX	Rising Rates Opportunity	Pair Corr
0.57	RRPIX	Rising Rates Opportunity	Pair Corr
0.56	RTPSX	Rising Rates Opportunity	Pair Corr

Related Correlations Analysis

	PZHEX	RTIUX	LMBMX	JULCX	GMADX	DFVEX
PZHEX		0.94	0.96	0.97	0.95	0.96	PZHEX
RTIUX	0.94		0.92	0.95	0.97	0.92	RTIUX
LMBMX	0.96	0.92		0.96	0.95	0.97	LMBMX
JULCX	0.97	0.95	0.96		0.96	0.94	JULCX
GMADX	0.95	0.97	0.95	0.96		0.96	GMADX
DFVEX	0.96	0.92	0.97	0.94	0.96		DFVEX
	PZHEX	RTIUX	LMBMX	JULCX	GMADX	DFVEX

Risk-Adjusted Indicators

There is a big difference between Technology Mutual Fund performing well and Technology Ultrasector 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 Technology Ultrasector'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
PZHEX	0.34	0.03	(0.01)	0.15	0.13	(0.41)	0.75	(0.52)	1.75
RTIUX	0.47	0.09	0.01	3.96	0.38	(0.54)	0.99	(0.82)	3.04
LMBMX	0.79	0.09	0.14	0.15	0.61	(0.90)	2.17	(1.36)	4.83
JULCX	0.16	0.04	(0.24)	1.92	0.00	(0.22)	0.33	(0.25)	0.98
GMADX	0.47	0.13	0.06	(10.70)	0.29	(0.55)	1.30	(0.86)	2.68
DFVEX	0.53	0.02	0.03	0.11	0.36	(0.64)	1.25	(0.66)	2.96

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