Financial Industries Correlations
| FIDAX Fund | USD 13.75 0.12 0.88% |
The current 90-days correlation between Financial Industries and Nuveen Short Term is 0.04 (i.e., Significant 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
Average diversification
The correlation between Financial Industries Fund and DJI is 0.13 (i.e., Average 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.
Financial |
Moving against Financial Mutual Fund
| 0.61 | JRBFX | Regional Bank | PairCorr |
| 0.53 | FRBCX | Regional Bank | PairCorr |
| 0.52 | JRGRX | Regional Bank | PairCorr |
| 0.49 | FRBAX | Regional Bank | PairCorr |
| 0.39 | JAACX | Alternative Asset | PairCorr |
| 0.38 | PZFVX | Classic Value | PairCorr |
Related Correlations Analysis
| 0.76 | 0.75 | 0.94 | 0.8 | 0.88 | 0.74 | FSHAX | ||
| 0.76 | 0.84 | 0.81 | 0.55 | 0.71 | 0.97 | TAAQX | ||
| 0.75 | 0.84 | 0.75 | 0.69 | 0.72 | 0.86 | CIABX | ||
| 0.94 | 0.81 | 0.75 | 0.75 | 0.91 | 0.8 | RSDIX | ||
| 0.8 | 0.55 | 0.69 | 0.75 | 0.74 | 0.59 | LCCMX | ||
| 0.88 | 0.71 | 0.72 | 0.91 | 0.74 | 0.75 | HYSZX | ||
| 0.74 | 0.97 | 0.86 | 0.8 | 0.59 | 0.75 | CDICX | ||
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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| FSHAX | 0.02 | (0.01) | 0.00 | (0.34) | 0.00 | 0.10 | 0.41 | |||
| TAAQX | 0.06 | 0.00 | (0.53) | 0.05 | 0.00 | 0.10 | 0.51 | |||
| CIABX | 0.04 | 0.00 | 0.00 | (0.43) | 0.00 | 0.20 | 0.40 | |||
| RSDIX | 0.06 | 0.00 | (0.41) | 0.00 | 0.00 | 0.10 | 0.62 | |||
| LCCMX | 0.14 | 0.02 | (0.18) | 1.42 | 0.00 | 0.12 | 2.58 | |||
| HYSZX | 0.09 | 0.00 | (0.33) | 0.02 | 0.00 | 0.12 | 0.71 | |||
| CDICX | 0.08 | 0.00 | (0.59) | 0.06 | 0.00 | 0.13 | 0.45 |