Technology Munications Correlations

STPAX Fund

USD 22.51 0.06 0.27%

The current 90-days correlation between Technology Munications and Morningstar Municipal Bond is -0.01 (i.e., Good diversification). The correlation of Technology Munications 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 Munications Correlation With Market

Poor diversification

The correlation between Technology Munications Portfol and DJI is 0.74 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Technology Munications Portfol and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Technology Munications 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 nation.

Moving together with Technology Mutual Fund

0.67	DBD	Diebold Nixdorf,	Pair Corr
0.65	GENVR	Gen Digital Contingent	Pair Corr
0.68	JNPR	Juniper Networks	Pair Corr
0.63	CORZZ	Core Scientific, Tranche	Pair Corr
0.89	STRF	MicroStrategy Incorporated	Pair Corr
0.99	SABAX	Salient Alternative Beta	Pair Corr
0.83	SABCX	Salient Alternative Beta	Pair Corr

Moving against Technology Mutual Fund

0.62	VISL	Vislink Technologies	Pair Corr
0.61	VSTE	Vast Renewables	Pair Corr
0.51	APCXW	AppTech Payments Corp	Pair Corr
0.47	EXOD	Exodus Movement, Tech Boost	Pair Corr
0.4	DVLT	Datavault AI Symbol Change	Pair Corr
0.38	BULLZ	Webull Incentive	Pair Corr
0.67	AXIL	AXIL Brands, Tech Boost	Pair Corr
0.6	SMTK	SmartKem, Common Stock Buyout Trend	Pair Corr
0.57	HPAIW	Helport AI Limited	Pair Corr
0.55	APCX	Apptech Corp	Pair Corr
0.48	NOVA	Sunnova Energy Inter	Pair Corr

Related Correlations Analysis

	MSTPX	TWTIX	PCMNX	SMAAX	TIMTX	FCSCX	BBINX
MSTPX		0.92	0.97	0.92	0.98	0.81	0.95	MSTPX
TWTIX	0.92		0.94	0.93	0.91	0.86	0.94	TWTIX
PCMNX	0.97	0.94		0.98	0.96	0.87	0.99	PCMNX
SMAAX	0.92	0.93	0.98		0.91	0.89	0.99	SMAAX
TIMTX	0.98	0.91	0.96	0.91		0.83	0.95	TIMTX
FCSCX	0.81	0.86	0.87	0.89	0.83		0.91	FCSCX
BBINX	0.95	0.94	0.99	0.99	0.95	0.91		BBINX
	MSTPX	TWTIX	PCMNX	SMAAX	TIMTX	FCSCX	BBINX

Click cells to compare fundamentals

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Risk-Adjusted Indicators

There is a big difference between Technology Mutual Fund performing well and Technology Munications 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 Munications' 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
MSTPX	0.13	0.01	(0.42)	(0.02)	0.19	(0.18)	0.31	(0.21)	1.15
TWTIX	0.13	0.02	(0.65)	0.55	0.00	(0.18)	0.38	(0.19)	0.97
PCMNX	0.13	0.02	(0.46)	(0.27)	0.14	(0.16)	0.26	(0.17)	1.02
SMAAX	0.12	0.03	(0.43)	(1.37)	0.00	(0.17)	0.30	(0.20)	0.92
TIMTX	0.15	0.01	(0.47)	(0.06)	0.20	(0.19)	0.29	(0.29)	1.17
FCSCX	0.06	0.00	(1.03)	0.32	0.00	(0.19)	0.13	(0.13)	0.53
BBINX	0.13	0.02	(0.53)	(0.42)	0.10	(0.16)	0.30	(0.20)	0.90

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