Technology Munications Correlations

STPAX Fund

USD 20.38 0.02 0.1%

The current 90-days correlation between Technology Munications and Transamerica Emerging Markets is 0.23 (i.e., Modest 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

Average diversification

The correlation between Technology Munications Portfol and DJI is 0.17 (i.e., Average 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

0.91	SABAX	Salient Alternative Beta	Pair Corr
0.66	SABIX	Aggressive Balanced	Pair Corr
0.9	SABCX	Salient Alternative Beta	Pair Corr
0.66	SAMAX	Moderately Aggressive	Pair Corr
0.91	SAMCX	Salient Mlp Fund	Pair Corr
0.9	SAMIX	Moderately Aggressive	Pair Corr
0.92	SSCCX	Saratoga Small Capit	Pair Corr
0.93	SSCPX	Small Capitalization	Pair Corr
0.95	SSCYX	Small Capitalization	Pair Corr
0.91	SBCCX	Moderately Servative	Pair Corr
0.67	SBMCX	Moderate Balanced	Pair Corr
0.91	SBMIX	Moderate Balanced	Pair Corr
0.82	STPCX	Technology Munications	Pair Corr
0.9	SCAAX	Conservative Balanced	Pair Corr
0.84	SLCGX	Large Capitalization	Pair Corr
0.84	SLCVX	Large Cap Value	Pair Corr
0.97	SLVCX	Large Cap Value	Pair Corr
0.96	SLVYX	Large Cap Value	Pair Corr
0.91	SMACX	Moderately Servative	Pair Corr
0.99	SMIPX	Mid Capitalization	Pair Corr
0.91	SMPAX	Moderate Balanced	Pair Corr
0.67	LUNAX	Conservative Balanced	Pair Corr

Moving against Technology Mutual Fund

0.72	SFPIX	Financial Services	Pair Corr
0.93	SPMCX	Mid Capitalization	Pair Corr
0.7	SLGCX	Large Capitalization	Pair Corr

Related Correlations Analysis

	TEOJX	SEKRX	XEMDX	BOGSX	DEDCX	GMAQX	EMDQX	MKDCX
TEOJX		0.47	-0.01	0.81	0.02	0.52	0.03	0.5	TEOJX
SEKRX	0.47		0.64	0.59	0.52	0.67	0.53	0.93	SEKRX
XEMDX	-0.01	0.64		0.25	0.74	0.78	0.82	0.71	XEMDX
BOGSX	0.81	0.59	0.25		0.2	0.71	0.14	0.61	BOGSX
DEDCX	0.02	0.52	0.74	0.2		0.65	0.77	0.61	DEDCX
GMAQX	0.52	0.67	0.78	0.71	0.65		0.7	0.8	GMAQX
EMDQX	0.03	0.53	0.82	0.14	0.77	0.7		0.66	EMDQX
MKDCX	0.5	0.93	0.71	0.61	0.61	0.8	0.66		MKDCX
	TEOJX	SEKRX	XEMDX	BOGSX	DEDCX	GMAQX	EMDQX	MKDCX

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

MKDCX	+ 0.93	SEKRX
EMDQX	+ 0.82	XEMDX
BOGSX	+ 0.81	TEOJX
MKDCX	+ 0.8	GMAQX
GMAQX	+ 0.78	XEMDX
EMDQX	+ 0.77	DEDCX

High negative correlations

XEMDX

- 0.01

TEOJX

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
TEOJX	0.68	(0.04)	(0.05)	0.01	1.05	(0.70)	1.23	(1.50)	5.51
SEKRX	0.78	0.05	(0.01)	0.55	1.09	(0.76)	1.54	(1.20)	5.32
XEMDX	0.21	0.02	(0.17)	(0.26)	0.18	(0.24)	0.36	(0.45)	1.80
BOGSX	1.02	(0.02)	0.00	0.05	1.54	(0.98)	2.17	(2.65)	7.39
DEDCX	0.07	(0.01)	(0.33)	(0.10)	0.09	(0.14)	0.13	(0.13)	0.76
GMAQX	0.58	0.01	(0.01)	0.09	0.77	(0.63)	1.18	(1.07)	4.09
EMDQX	0.22	0.02	(0.13)	(1.97)	0.18	(0.29)	0.61	(0.41)	1.23
MKDCX	0.73	0.05	0.00	0.43	0.97	(0.78)	1.49	(1.36)	4.92

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