Banks Ultrasector Correlations

Mutual Funds . USA . 
Fund . Banks Ultrasector Profund
BKPIX Fund  USD 67.06  4.38  6.99%   
The current 90-days correlation between Banks Ultrasector Profund and Qs Global Equity is 0.67 (i.e., Poor diversification). The correlation of Banks 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.

Banks Ultrasector Correlation With Market

Very poor diversification

The correlation between Banks Ultrasector Profund and DJI is 0.83 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Banks Ultrasector Profund and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Banks 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 inflation.

Moving together with Banks Mutual Fund

  0.84TEPIX Technology UltrasectorPairCorr
  0.84TEPSX Technology UltrasectorPairCorr
  0.82LGPIX Large Cap GrowthPairCorr
  0.83INPIX Internet UltrasectorPairCorr
  0.83INPSX Internet UltrasectorPairCorr
  0.97UMPIX Ultramid Cap ProfundPairCorr
  0.84UOPIX Ultra Nasdaq 100PairCorr
  0.84UOPSX Ultranasdaq 100 ProfundPairCorr
  0.96SGPIX Small Cap GrowthPairCorr
  0.85FYAIX Access Flex HighPairCorr
  0.82BIPIX Biotechnology UltrasectorPairCorr
  0.94UAPIX Ultrasmall Cap ProfundPairCorr
  0.8UUPIX Ultraemerging MarketsPairCorr
  0.8SMPIX Semiconductor UltrasectorPairCorr
  0.96UDPIX Ultradow 30 ProfundPairCorr
  0.96UDPSX Ultradow 30 ProfundPairCorr
  0.91MGPIX Mid Cap GrowthPairCorr
  0.94FNPIX Financials UltrasectorPairCorr
  0.84RYVYX Nasdaq 100 2xPairCorr
  0.84RYVLX Nasdaq 100 2xPairCorr
  0.84RYCCX Nasdaq 100 2xPairCorr
  0.84RMQHX Monthly RebalancePairCorr
  0.84RMQAX Monthly RebalancePairCorr
  0.84RMQCX Monthly RebalancePairCorr
  0.84DXQLX Direxion Monthly NasdaqPairCorr
  0.7FSMMX Fs Multi StrategyPairCorr
  0.75BTMPX Ishares Msci EafePairCorr
  0.75BTMKX Blackrock InternationalPairCorr
  0.75MDIIX Blackrock Intern IndexPairCorr

Moving against Banks Mutual Fund

  0.54SNPIX Short Oil GasPairCorr
  0.5SPPIX Short Precious MetalsPairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

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

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