Global Technology Correlations

Mutual Funds . USA . 
Fund . Global Technology Portfolio
JGLTX Fund  USD 22.34  0.04  0.18%   
The current 90-days correlation between Global Technology and Calvert Conservative Allocation is 0.72 (i.e., Poor diversification). The correlation of Global 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.

Global Technology Correlation With Market

Poor diversification

The correlation between Global Technology Portfolio and DJI is 0.78 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Global Technology Portfolio and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Global Technology 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 estimate.

Moving together with Global Mutual Fund

  0.69VVPR VivoPower International Tech BoostPairCorr
  0.95DBD Diebold Nixdorf,PairCorr
  0.69GENVR Gen Digital ContingentPairCorr
  0.64CYCUW Cycurion, Warrant Symbol ChangePairCorr
  0.78BULLW Webull Warrants TrendingPairCorr
  0.71MIND Mind TechnologyPairCorr
  0.93HPE-PC Hewlett Packard EntePairCorr
  0.91CORZZ Core Scientific, TranchePairCorr
  0.74RZLVW Rezolve AI LimitedPairCorr
  0.83SATX SatixFy CommunicationsPairCorr
  0.91STRF MicroStrategy IncorporatedPairCorr
  1.0JRAAX Janus ResearchPairCorr
  1.0JRACX Janus ResearchPairCorr
  1.0JRAIX Janus ResearchPairCorr

Moving against Global Mutual Fund

  0.87VSTE Vast RenewablesPairCorr
  0.85HPAIW Helport AI LimitedPairCorr
  0.81VISL Vislink TechnologiesPairCorr
  0.65APCXW AppTech Payments CorpPairCorr
  0.57EXOD Exodus Movement, Tech BoostPairCorr
  0.38DVLT Datavault AI Symbol ChangePairCorr
  0.9SMTK SmartKem, Common StockPairCorr
  0.86NOVA Sunnova Energy InterPairCorr
  0.72APCX Apptech CorpPairCorr
  0.51ODYS Odysightai Common StockPairCorr
  0.44AXIL AXIL Brands, TrendingPairCorr
  0.42SLNHP Soluna Holdings PreferredPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Global Mutual Fund performing well and Global 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 Global 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.

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