Technology Ultrasector Correlations

TEPSX Fund

USD 31.36 0.02 0.06%

The current 90-days correlation between Technology Ultrasector and Ab E Opportunities is 0.08 (i.e., Significant 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

Poor diversification

The correlation between Technology Ultrasector Profund and DJI is 0.68 (i.e., Poor 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 state.

Moving together with Technology Mutual Fund

0.67	LGPSX	Profunds Large Cap	Pair Corr
0.99	OTPIX	Nasdaq 100 Profund	Pair Corr
0.62	INPSX	Internet Ultrasector	Pair Corr
0.66	UOPIX	Ultra Nasdaq 100	Pair Corr
0.66	UOPSX	Ultranasdaq 100 Profund	Pair Corr
0.64	UAPIX	Ultrasmall Cap Profund	Pair Corr
0.73	SMPIX	Semiconductor Ultrasector Steady Growth	Pair Corr
0.74	SMPSX	Semiconductor Ultrasector Steady Growth	Pair Corr
0.66	RYVYX	Nasdaq 100 2x	Pair Corr
0.68	RYVLX	Nasdaq 100 2x	Pair Corr
0.66	RYCCX	Nasdaq 100 2x	Pair Corr
1.0	RMQHX	Monthly Rebalance	Pair Corr
1.0	RMQAX	Monthly Rebalance	Pair Corr
0.99	RMQCX	Monthly Rebalance	Pair Corr
0.65	DXQLX	Direxion Monthly Nasdaq	Pair Corr
0.99	VMCIX	Vanguard Mid Cap	Pair Corr
0.8	PYSIX	Payden Strategic Income	Pair Corr
0.81	AAAPX	Deutsche Real Assets	Pair Corr
0.99	CHYDX	Calamos High Income	Pair Corr
0.84	HILTX	Hartford International	Pair Corr
0.98	PISHX	Cohen Steers Preferred	Pair Corr
0.62	JGMRX	Janus Triton	Pair Corr
0.83	PCGQX	Prudential Income Builder	Pair Corr
0.99	BCMPX	Blackrock Moderate	Pair Corr
0.63	STSEX	Blackrock Exchange	Pair Corr
0.79	RYPIX	Transportation Fund	Pair Corr

Moving against Technology Mutual Fund

0.52

SPPIX

Short Precious Metals

Pair Corr

Related Correlations Analysis

	ADGAX	BOGSX	SEDAX	REMVX	QNZIX	PCEMX	SMPIX	GQESX
ADGAX		0.99	0.96	0.98	0.95	0.98	0.98	0.98	ADGAX
BOGSX	0.99		0.95	0.99	0.96	0.98	0.97	0.98	BOGSX
SEDAX	0.96	0.95		0.96	0.95	0.97	0.96	0.95	SEDAX
REMVX	0.98	0.99	0.96		0.95	0.99	0.97	0.97	REMVX
QNZIX	0.95	0.96	0.95	0.95		0.96	0.95	0.95	QNZIX
PCEMX	0.98	0.98	0.97	0.99	0.96		0.98	0.98	PCEMX
SMPIX	0.98	0.97	0.96	0.97	0.95	0.98		0.96	SMPIX
GQESX	0.98	0.98	0.95	0.97	0.95	0.98	0.96		GQESX
	ADGAX	BOGSX	SEDAX	REMVX	QNZIX	PCEMX	SMPIX	GQESX

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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
ADGAX	0.68	0.25	0.12	(2.78)	0.52	(0.79)	1.77	(1.34)	4.76
BOGSX	0.84	0.33	0.17	(2.53)	0.61	(1.07)	2.32	(1.46)	5.78
SEDAX	0.19	0.09	(0.14)	1.41	0.00	(0.27)	0.45	(0.33)	1.25
REMVX	0.61	0.33	0.27	(8.57)	0.00	(0.86)	1.76	(0.94)	4.92
QNZIX	0.45	0.09	0.00	0.44	0.26	(0.52)	0.96	(0.75)	2.56
PCEMX	0.48	0.22	0.20	0.92	0.00	(0.61)	1.48	(0.92)	3.46
SMPIX	2.19	0.71	0.31	0.51	1.96	(2.59)	5.81	(3.47)	12.76
GQESX	0.63	0.04	0.03	0.18	0.53	(0.73)	1.82	(1.22)	4.29

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