Technology Ultrasector Correlations

TEPIX Fund

USD 32.04 0.02 0.06%

The current 90-days correlation between Technology Ultrasector and Short Real Estate is -0.73 (i.e., Pay attention - limited upside). The correlation of Technology Ultrasector 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 Ultrasector Correlation With Market

Almost no diversification

The correlation between Technology Ultrasector Profund and DJI is 0.92 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Technology Ultrasector Profund 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 Ultrasector Profund. 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 gross domestic product.

Moving together with Technology Mutual Fund

0.94	LGPIX	Large Cap Growth	Pair Corr
0.95	MLPSX	Mid Cap Value	Pair Corr
0.89	MLPIX	Mid Cap Value	Pair Corr
0.65	ENPSX	Oil Gas Ultrasector	Pair Corr
0.98	INPIX	Internet Ultrasector	Pair Corr
0.95	INPSX	Internet Ultrasector	Pair Corr
0.87	OEPIX	Oil Equipment Services	Pair Corr
0.95	SVPIX	Small Cap Value	Pair Corr
0.97	UMPSX	Ultramid Cap Profund	Pair Corr
0.97	UMPIX	Ultramid Cap Profund	Pair Corr
1.0	UOPIX	Ultra Nasdaq 100	Pair Corr
1.0	UOPSX	Ultranasdaq 100 Profund	Pair Corr
0.98	SGPIX	Small Cap Growth	Pair Corr
0.76	RDPIX	Rising Dollar Profund	Pair Corr
0.8	FYAIX	Access Flex High	Pair Corr
0.68	REPIX	Real Estate Ultrasector Potential Growth	Pair Corr
0.89	BIPIX	Biotechnology Ultrasector	Pair Corr
0.92	MDPIX	Mid Cap Profund	Pair Corr
0.68	UUPIX	Ultraemerging Markets	Pair Corr
0.98	SMPIX	Semiconductor Ultrasector	Pair Corr
0.94	SMPSX	Semiconductor Ultrasector	Pair Corr
0.69	HCPIX	Health Care Ultrasector	Pair Corr
0.98	MGPIX	Mid Cap Growth	Pair Corr
0.93	FNPIX	Financials Ultrasector	Pair Corr
1.0	RYVYX	Nasdaq 100 2x	Pair Corr
1.0	RYVLX	Nasdaq 100 2x	Pair Corr
1.0	RYCCX	Nasdaq 100 2x	Pair Corr
1.0	RMQHX	Monthly Rebalance	Pair Corr

Moving against Technology Mutual Fund

0.98	SHPSX	Short Small Cap	Pair Corr
0.97	UIPIX	Ultrashort Mid Cap	Pair Corr
0.92	USPSX	Profunds Ultrashort	Pair Corr
0.9	UKPIX	Ultrashort Japan Profund	Pair Corr
0.86	USPIX	Profunds Ultrashort	Pair Corr
0.76	SRPIX	Short Real Estate	Pair Corr
0.97	UCPIX	Ultrashort Small Cap	Pair Corr
0.64	SNPIX	Short Oil Gas	Pair Corr

Related Correlations Analysis

	SRPIX	SRPSX	UIPIX	UIPSX	TEPIX	TEPSX	LGPIX	LGPSX	BRPIX	BRPSX
SRPIX		1.0	0.85	0.85	-0.76	-0.76	-0.74	-0.75	0.8	0.8	SRPIX
SRPSX	1.0		0.83	0.83	-0.74	-0.74	-0.71	-0.73	0.78	0.78	SRPSX
UIPIX	0.85	0.83		1.0	-0.97	-0.97	-0.91	-0.97	0.91	0.9	UIPIX
UIPSX	0.85	0.83	1.0		-0.97	-0.97	-0.91	-0.97	0.9	0.9	UIPSX
TEPIX	-0.76	-0.74	-0.97	-0.97		1.0	0.94	0.99	-0.91	-0.91	TEPIX
TEPSX	-0.76	-0.74	-0.97	-0.97	1.0		0.94	0.99	-0.91	-0.91	TEPSX
LGPIX	-0.74	-0.71	-0.91	-0.91	0.94	0.94		0.94	-0.98	-0.98	LGPIX
LGPSX	-0.75	-0.73	-0.97	-0.97	0.99	0.99	0.94		-0.9	-0.9	LGPSX
BRPIX	0.8	0.78	0.91	0.9	-0.91	-0.91	-0.98	-0.9		1.0	BRPIX
BRPSX	0.8	0.78	0.9	0.9	-0.91	-0.91	-0.98	-0.9	1.0		BRPSX
	SRPIX	SRPSX	UIPIX	UIPSX	TEPIX	TEPSX	LGPIX	LGPSX	BRPIX	BRPSX

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

SRPSX	+ 1.0	SRPIX
UIPSX	+ 1.0	UIPIX
TEPSX	+ 1.0	TEPIX
BRPSX	+ 1.0	BRPIX
LGPSX	+ 0.99	TEPIX
LGPSX	+ 0.99	TEPSX

High negative correlations

BRPSX	- 0.98	LGPIX
BRPIX	- 0.98	LGPIX
LGPSX	- 0.97	UIPSX
TEPSX	- 0.97	UIPSX
TEPIX	- 0.97	UIPSX
LGPSX	- 0.97	UIPIX

Risk-Adjusted Indicators

There is a big difference between Technology Mutual Fund performing well and Technology Ultrasector 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 Ultrasector'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
SRPIX	1.01	(0.08)	0.10	(0.01)	1.29	(1.25)	2.50	(1.98)	10.28
SRPSX	1.01	(0.09)	0.09	0.00	1.30	(1.29)	2.46	(2.03)	10.43
UIPIX	2.54	0.03	0.10	(0.14)	3.68	(2.50)	4.80	(4.89)	29.75
UIPSX	2.54	0.03	0.10	(0.14)	3.68	(2.50)	4.78	(4.88)	29.80
TEPIX	2.59	0.14	0.00	(0.06)	0.00	0.00	4.42	(6.33)	27.33
TEPSX	2.60	0.14	0.00	(0.06)	0.00	0.00	4.42	(6.33)	27.33
LGPIX	1.53	(0.11)	0.00	1.02	0.00	0.00	2.61	(3.80)	15.37
LGPSX	1.52	0.05	0.00	(0.08)	0.00	0.00	2.60	(3.78)	15.38
BRPIX	1.22	0.10	0.10	0.96	1.83	(1.53)	2.69	(2.04)	15.49
BRPSX	1.21	0.10	0.11	0.95	1.82	(1.52)	2.61	(2.00)	15.43

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