Consumer Discretionary Correlations

Mutual Funds . USA . 
Fund . Consumer Discretionary Portfolio
FSCPX Fund  USD 66.67  0.40  0.60%   
The current 90-days correlation between Consumer Discretionary and Industrials Portfolio Industrials is 0.81 (i.e., Very poor diversification). The correlation of Consumer Discretionary 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 Discretionary Correlation With Market

Very poor diversification

The correlation between Consumer Discretionary Portfol 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 Consumer Discretionary Portfol 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 Consumer Discretionary Portfolio. 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 american community survey.

Moving together with Consumer Mutual Fund

  0.71IP International PaperPairCorr
  0.68MB MasterBeef Group OrdinaryPairCorr
  0.88OI O I Glass Earnings Call Next WeekPairCorr
  0.82SW Smurfit WestRock plc Potential GrowthPairCorr
  0.71DRVN Driven Brands HoldingsPairCorr
  0.65EFOI Energy FocuPairCorr
  0.66F-PB Ford MotorPairCorr
  0.78F-PC Ford MotorPairCorr
  0.72F-PD F PDPairCorr
  0.87WBUY WEBUY GLOBAL LTD Downward RallyPairCorr
  0.83EVRI Everi HoldingsPairCorr
  0.77FIGS Figs IncPairCorr
  0.68AGS PlayAGSPairCorr
  0.84AIN Albany International Earnings Call This WeekPairCorr
  0.88AVY Avery Dennison Corp Earnings Call TomorrowPairCorr
  0.91CCK Crown HoldingsPairCorr
  0.77CYD China Yuchai InternaPairCorr
  0.76GEF Greif BrosPairCorr
  0.95HNI HNI Corp Earnings Call This WeekPairCorr
  0.93KAR KAR Auction ServicesPairCorr
  0.83KFS Kingsway FinancialPairCorr
  0.7KRT Karat PackagingPairCorr
  0.78MED MEDIFAST INCPairCorr
  0.84MLR Miller IndustriesPairCorr
  0.66MRM Medirom HealthcarePairCorr
  0.89MYE Myers IndustriesPairCorr
  0.69BC-PA Brunswick CorpPairCorr
  0.77BC-PC Brunswick CorpPairCorr
  0.75PKG Packaging CorpPairCorr

Moving against Consumer Mutual Fund

  0.82VIRC Virco ManufacturingPairCorr
  0.62GPK Graphic Packaging Holding Earnings Call This WeekPairCorr
  0.45CHA Chagee HoldingsPairCorr
  0.4DSS DSS IncPairCorr
  0.86FATBP FAT Brands Earnings Call Next WeekPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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

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