Technology Portfolio Correlations

Mutual Funds . USA . 
Fund . Technology Portfolio Technology
FSPTX Fund  USD 43.78  0.15  0.34%   
The current 90-days correlation between Technology Portfolio and Invesco American Franchise is 0.93 (i.e., Almost no diversification). The correlation of Technology 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.

Technology Portfolio Correlation With Market

Good diversification

The correlation between Technology Portfolio Technolog and DJI is -0.15 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Technology Portfolio Technolog 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 Technology Portfolio 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 manufacturing.

Moving together with Technology Mutual Fund

  0.89FPTKX Fidelity Freedom 2015PairCorr
  0.9FPUKX Fidelity PuritanPairCorr
  0.88FPXTX Fidelity PennsylvaniaPairCorr
  0.91FQIFX Fidelity Freedom IndexPairCorr
  0.92FQIPX Fidelity Freedom IndexPairCorr
  0.64FQITX Fidelity Salem StreetPairCorr
  0.92FQLSX Fidelity Flex FreedomPairCorr
  0.92FRBDX Fidelity Freedom 2070PairCorr
  0.88FRBEX Fidelity Freedom 2070PairCorr
  0.92FRBHX Fidelity Freedom 2070PairCorr
  0.91FRBJX Fidelity Advisor FreedomPairCorr
  0.88FRBKX Fidelity Advisor FreedomPairCorr
  0.91FRBLX Fidelity Advisor FreedomPairCorr
  0.91FRBOX Fidelity Advisor FreedomPairCorr
  0.91FRBPX Fidelity Advisor FreedomPairCorr
  0.88FRBQX Fidelity Flex FreedomPairCorr
  0.92FRBUX Fidelity Freedom IndexPairCorr
  0.92FRBVX Fidelity Freedom IndexPairCorr
  0.92FRBWX Fidelity Freedom IndexPairCorr
  0.92FRBYX Fidelity Freedom BlendPairCorr
  0.84FRBZX Fidelity Freedom BlendPairCorr
  0.92FRAGX Aggressive GrowthPairCorr
  0.87FRAMX Fidelity Income ReplPairCorr
  0.88FRASX Fidelity Income ReplPairCorr
  0.84FRCFX Fidelity Freedom BlendPairCorr
  0.92FRCHX Fidelity Freedom BlendPairCorr
  0.89FRCKX Fidelity Freedom BlendPairCorr
  0.88FRCLX Fidelity Freedom BlendPairCorr
  0.9FRCNX Fidelity Freedom BlendPairCorr
  0.92FRCPX Fidelity Freedom BlendPairCorr
  0.92FRCQX Fidelity SustainablePairCorr
  0.93FRCRX Fidelity SustainablePairCorr
  0.85FRCVX Fidelity SustainablePairCorr
  0.89FRCWX Fidelity SustainablePairCorr
  0.92FRCYX Fidelity SustainablePairCorr
  0.89FRDCX Fidelity SustainablePairCorr
  0.92FRDDX Fidelity SustainablePairCorr
  0.89FRDEX Fidelity SustainablePairCorr
  0.88FRGAX Growth Allocation IndexPairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

There is a big difference between Technology Mutual Fund performing well and Technology 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 Technology 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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
VAFIX  0.73  0.11  0.04 (0.29) 0.99 
(0.73)
 1.46 
(1.47)
 5.68 
DFSTX  0.77  0.07  0.01 (0.23) 0.81 
(0.93)
 1.99 
(1.30)
 6.64 
WCMRX  0.55  0.03 (0.04)(0.09) 0.69 
(0.62)
 1.38 
(0.91)
 4.22 
DFSVX  0.84  0.03 (0.03)(0.13) 0.96 
(1.21)
 2.02 
(1.58)
 7.92 
FSELX  1.27  0.27  0.10 (0.65) 1.63 
(1.30)
 2.84 
(2.71)
 9.46 
TEPLX  0.52  0.06  0.00 (0.22) 0.63 
(0.55)
 1.23 
(0.74)
 4.25 
FZTKX  0.45  0.09  0.05 (0.39) 0.51 
(0.52)
 1.20 
(0.63)
 4.15 
TWCGX  0.65  0.13  0.07 (0.36) 0.83 
(0.69)
 1.38 
(1.18)
 5.33 
OTCIX  0.64  0.00  0.00  0.03  0.00 
 0.00 
 1.30 
(1.10)
 4.42 
GQGPX  0.41  0.05 (0.01)(0.32) 0.49 
(0.44)
 1.00 
(0.63)
 2.77 

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