Consumer Services Correlations

Mutual Funds . USA . 
Fund . Consumer Services Ultrasector
CYPIX Fund  USD 72.61  1.12  1.57%   
The current 90-days correlation between Consumer Services and Old Westbury Small is 0.61 (i.e., Poor diversification). The correlation of Consumer Services 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.

Consumer Services Correlation With Market

Poor diversification

The correlation between Consumer Services Ultrasector and DJI is 0.62 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Consumer Services Ultrasector and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Consumer Services Ultrasector. 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 gross domestic product.

Moving together with Consumer Mutual Fund

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  0.93UOPSX Ultranasdaq 100 ProfundPairCorr
  0.93RMQHX Monthly RebalancePairCorr
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  0.88FFEGX Fidelity Freedom IndexPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Consumer Mutual Fund performing well and Consumer Services 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 Consumer Services' 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.

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