Towpath Technology Correlations

TOWTX Fund

USD 14.40 0.02 0.14%

The current 90-days correlation between Towpath Technology and Vanguard Information Technology is 0.86 (i.e., Very poor diversification). The correlation of Towpath 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.

Towpath Technology Correlation With Market

Very poor diversification

The correlation between Towpath Technology and DJI is 0.82 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Towpath Technology 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 Towpath Technology. 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 estimate.

Moving together with Towpath Mutual Fund

0.68	VVPR	VivoPower International	Pair Corr
0.92	FARO	FARO Technologies	Pair Corr
0.82	DBD	Diebold Nixdorf,	Pair Corr
0.89	GENVR	Gen Digital Contingent	Pair Corr
0.64	BULLW	Webull Warrants Tech Boost	Pair Corr

Moving against Towpath Mutual Fund

0.77	VSTE	Vast Renewables	Pair Corr
0.65	VISL	Vislink Technologies Tech Boost	Pair Corr
0.5	EXOD	Exodus Movement,	Pair Corr
0.39	DDD	3D Systems Tech Boost	Pair Corr
0.48	APCXW	AppTech Payments Corp	Pair Corr
0.45	HOLO	MicroCloud Hologram	Pair Corr
0.35	GNSS	Genasys	Pair Corr

Related Correlations Analysis

	VITAX	CCIFX	FSPTX	FSELX	FSCSX	SLMCX	SCICX	WSTRX
VITAX		0.51	0.59	0.61	0.56	0.51	0.54	0.59	VITAX
CCIFX	0.51		0.89	0.89	0.79	1.0	0.9	0.87	CCIFX
FSPTX	0.59	0.89		1.0	0.95	0.89	1.0	1.0	FSPTX
FSELX	0.61	0.89	1.0		0.95	0.89	0.99	1.0	FSELX
FSCSX	0.56	0.79	0.95	0.95		0.79	0.95	0.96	FSCSX
SLMCX	0.51	1.0	0.89	0.89	0.79		0.9	0.88	SLMCX
SCICX	0.54	0.9	1.0	0.99	0.95	0.9		0.99	SCICX
WSTRX	0.59	0.87	1.0	1.0	0.96	0.88	0.99		WSTRX
	VITAX	CCIFX	FSPTX	FSELX	FSCSX	SLMCX	SCICX	WSTRX

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Risk-Adjusted Indicators

There is a big difference between Towpath Mutual Fund performing well and Towpath 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 Towpath 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
VITAX	0.88	0.27	0.35	0.50	0.00	(1.17)	2.53	(1.00)	6.67
CCIFX	0.83	0.19	0.17	0.48	0.17	(1.03)	2.16	(1.02)	6.83
FSPTX	0.85	0.41	0.19	(21.48)	0.22	(1.07)	2.12	(1.14)	7.18
FSELX	1.24	0.57	0.26	(17.73)	0.70	(1.55)	3.44	(1.97)	9.90
FSCSX	0.76	0.32	0.05	(1.63)	0.60	(0.95)	2.20	(1.66)	6.46
SLMCX	0.81	0.18	0.17	0.44	0.22	(0.98)	2.16	(1.02)	6.84
SCICX	0.82	0.39	0.18	68.22	0.17	(1.01)	2.14	(1.03)	6.81
WSTRX	0.81	0.42	0.21	(16.68)	0.15	(1.01)	2.49	(1.26)	6.92

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