Automotive Portfolio Correlations

FSAVX Fund

USD 56.74 0.41 0.73%

The current 90-days correlation between Automotive Portfolio and Consumer Discretionary Portfolio is 0.11 (i.e., Average diversification). The correlation of Automotive 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.

Automotive Portfolio Correlation With Market

Good diversification

The correlation between Automotive Portfolio Automotiv and DJI is -0.02 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Automotive Portfolio Automotiv 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 Automotive Portfolio Automotive. 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 real.

Moving together with Automotive Mutual Fund

0.87	OI	O I Glass	Pair Corr
0.61	SW	Smurfit WestRock plc	Pair Corr
0.72	DRVN	Driven Brands Holdings	Pair Corr
0.81	WBUY	WEBUY GLOBAL LTD	Pair Corr
0.66	AVY	Avery Dennison Corp	Pair Corr
0.85	CCK	Crown Holdings	Pair Corr
0.76	HNI	HNI Corp	Pair Corr
0.79	KAR	KAR Auction Services	Pair Corr
0.66	KFS	Kingsway Financial	Pair Corr
0.83	KRT	Karat Packaging	Pair Corr
0.9	MLR	Miller Industries	Pair Corr
0.68	MYE	Myers Industries	Pair Corr

Moving against Automotive Mutual Fund

0.71	VIRC	Virco Manufacturing	Pair Corr
0.59	GPK	Graphic Packaging Holding	Pair Corr
0.64	FATBP	FAT Brands	Pair Corr
0.57	NCI	Neo Concept Internat	Pair Corr
0.42	VRM	Vroom, Common Stock	Pair Corr
0.37	JWN	Nordstrom	Pair Corr

Related Correlations Analysis

	FSCPX	FSHOX	FSLEX	FSRFX	FDLSX
FSCPX		0.81	0.97	0.8	0.81	FSCPX
FSHOX	0.81		0.82	0.82	0.96	FSHOX
FSLEX	0.97	0.82		0.8	0.84	FSLEX
FSRFX	0.8	0.82	0.8		0.87	FSRFX
FDLSX	0.81	0.96	0.84	0.87		FDLSX
	FSCPX	FSHOX	FSLEX	FSRFX	FDLSX

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Risk-Adjusted Indicators

There is a big difference between Automotive Mutual Fund performing well and Automotive 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 Automotive 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
FSCPX	1.60	0.13	0.02	(0.60)	2.02	(1.68)	3.23	(3.15)	15.48
FSHOX	1.24	0.08	0.00	(1.17)	1.54	(1.41)	2.74	(2.33)	10.25
FSLEX	1.37	0.22	0.07	(1.28)	1.83	(1.46)	2.71	(2.50)	15.38
FSRFX	1.36	0.07	0.00	(0.59)	1.88	(1.63)	2.15	(2.74)	14.65
FDLSX	1.11	0.12	0.03	(1.79)	1.68	(1.11)	2.24	(2.80)	12.21

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