Financial Industries Correlations

FIDAX Fund

USD 18.82 0.18 0.97%

The current 90-days correlation between Financial Industries and Ab Select Equity is 0.68 (i.e., Poor diversification). The correlation of Financial Industries 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.

Financial Industries Correlation With Market

Good diversification

The correlation between Financial Industries Fund and DJI is -0.07 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Financial Industries Fund 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 Financial Industries Fund. 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 Financial Mutual Fund

0.93	FRBAX	Regional Bank	Pair Corr
0.83	FRBCX	Regional Bank	Pair Corr
0.82	JRBFX	Regional Bank	Pair Corr
0.73	JRGRX	Regional Bank	Pair Corr

Moving against Financial Mutual Fund

0.47	JRLIX	Retirement Living Through	Pair Corr
0.47	JRLHX	Retirement Living Through	Pair Corr
0.46	JRLFX	Multi Index 2010	Pair Corr
0.45	JRLOX	Retirement Living Through	Pair Corr
0.44	JQLCX	Multimanager Lifestyle	Pair Corr
0.42	JRLKX	Multi Index 2015	Pair Corr
0.39	JQLMX	Multimanager Lifestyle	Pair Corr
0.39	JQLAX	Multimanager Lifestyle	Pair Corr
0.51	JAAPX	Alternative Asset	Pair Corr
0.5	JRLVX	Retirement Living Through	Pair Corr
0.5	JAAKX	Jhancock Multi Index	Pair Corr
0.49	JRTBX	Retirement Living Through	Pair Corr
0.48	JRLUX	Multi Index 2045	Pair Corr
0.47	JRLPX	Multi Index 2020	Pair Corr
0.44	JRLQX	Retirement Living Through	Pair Corr
0.44	JRLWX	Retirement Living Through	Pair Corr
0.44	JRLZX	Retirement Living Through	Pair Corr
0.44	JRODX	J Hancock Ii	Pair Corr
0.44	JAAFX	Jhancock Multi Index	Pair Corr
0.44	JAAJX	Jhancock Multi Index	Pair Corr
0.37	JAARX	Alternative Asset	Pair Corr
0.36	JAAIX	Alternative Asset	Pair Corr
0.53	JAASX	Alternative Asset	Pair Corr
0.5	JRTTX	Retirement Living Through	Pair Corr
0.5	JAAAX	Alternative Asset	Pair Corr
0.49	JRTGX	Retirement Living Through	Pair Corr
0.48	JRTIX	Multi Index 2030	Pair Corr
0.48	JRTMX	Multi Index 2035	Pair Corr

Related Correlations Analysis

	AUUIX	CPUCX	FANISX	FFCGX	VOLJX	FKHEMX	FZEDSX
AUUIX		0.82	0.75	0.91	0.92	0.98	0.99	AUUIX
CPUCX	0.82		0.99	0.89	0.89	0.88	0.87	CPUCX
FANISX	0.75	0.99		0.85	0.84	0.83	0.81	FANISX
FFCGX	0.91	0.89	0.85		0.98	0.92	0.93	FFCGX
VOLJX	0.92	0.89	0.84	0.98		0.94	0.94	VOLJX
FKHEMX	0.98	0.88	0.83	0.92	0.94		0.99	FKHEMX
FZEDSX	0.99	0.87	0.81	0.93	0.94	0.99		FZEDSX
	AUUIX	CPUCX	FANISX	FFCGX	VOLJX	FKHEMX	FZEDSX

Risk-Adjusted Indicators

There is a big difference between Financial Mutual Fund performing well and Financial Industries 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 Financial Industries' 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
AUUIX	0.42	0.09	(0.03)	(0.56)	0.52	(0.44)	1.01	(0.76)	3.77
CPUCX	0.19	0.01	(0.35)	0.27	0.10	(0.26)	0.44	(0.32)	0.98
FANISX	0.25	0.01	(0.32)	0.30	0.20	(0.29)	0.55	(0.40)	1.41
FFCGX	0.49	(0.01)	(0.03)	0.08	0.62	(0.51)	1.24	(0.85)	4.37
VOLJX	0.48	0.01	0.01	0.11	0.53	(0.52)	1.11	(0.88)	4.63
FKHEMX	0.53	0.12	0.01	(0.75)	0.56	(0.61)	1.24	(0.88)	4.12
FZEDSX	0.36	0.07	(0.08)	(0.71)	0.32	(0.40)	0.82	(0.63)	2.30

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