Science Technology Correlations

USSCX Fund

USD 33.00 0.58 1.79%

The current 90-days correlation between Science Technology and Goldman Sachs Smallmid is 0.41 (i.e., Very weak diversification). The correlation of Science Technology 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.

Science Technology Correlation With Market

Very weak diversification

The correlation between Science Technology Fund and DJI is 0.51 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Science Technology Fund 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 Science Technology 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 world development indicators.

Moving together with Science Mutual Fund

0.84	MMECX	Victory Integrity	Pair Corr
0.68	MMEAX	Victory Integrity	Pair Corr
0.77	MNNAX	Victory Munder Multi	Pair Corr
0.9	RSDGX	Victory Rs Select	Pair Corr
0.78	RSGRX	Victory Rs Growth	Pair Corr
0.88	RSSYX	Victory Rs Select	Pair Corr
0.7	RSVAX	Victory Rs Value	Pair Corr
0.69	RSVYX	Victory Rs Value	Pair Corr
0.64	RCOCX	Victory Rs Large	Pair Corr
0.75	VDSCX	Victory Diversified Stock	Pair Corr
0.94	USAAX	Growth Fund Growth	Pair Corr

Moving against Science Mutual Fund

0.35

USAGX

Precious Metals And

Pair Corr

Related Correlations Analysis

	GTMUX	TEGIX	PREFX	HCKAX	IBALX	HILVX	JDHCX	JHYFX
GTMUX		0.8	0.49	0.15	0.26	0.04	0.06	0.14	GTMUX
TEGIX	0.8		0.47	-0.16	-0.02	-0.26	-0.27	-0.25	TEGIX
PREFX	0.49	0.47		0.5	0.8	0.23	0.45	0.51	PREFX
HCKAX	0.15	-0.16	0.5		0.73	0.46	0.7	0.7	HCKAX
IBALX	0.26	-0.02	0.8	0.73		0.56	0.69	0.8	IBALX
HILVX	0.04	-0.26	0.23	0.46	0.56		0.71	0.75	HILVX
JDHCX	0.06	-0.27	0.45	0.7	0.69	0.71		0.91	JDHCX
JHYFX	0.14	-0.25	0.51	0.7	0.8	0.75	0.91		JHYFX
	GTMUX	TEGIX	PREFX	HCKAX	IBALX	HILVX	JDHCX	JHYFX

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

JHYFX	+ 0.91	JDHCX
TEGIX	+ 0.8	GTMUX
IBALX	+ 0.8	PREFX
JHYFX	+ 0.8	IBALX
JHYFX	+ 0.75	HILVX
IBALX	+ 0.73	HCKAX

High negative correlations

JDHCX	- 0.27	TEGIX
HILVX	- 0.26	TEGIX
JHYFX	- 0.25	TEGIX
HCKAX	- 0.16	TEGIX
IBALX	- 0.02	TEGIX

Risk-Adjusted Indicators

There is a big difference between Science Mutual Fund performing well and Science Technology 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 Science Technology'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
GTMUX	1.11	(0.23)	0.00	(0.22)	0.00	0.00	1.79	(1.94)	16.01
TEGIX	0.94	(0.23)	0.00	(0.29)	0.00	0.00	1.22	(2.04)	10.24
PREFX	0.76	(0.05)	(0.04)	0.00	1.18	(0.71)	1.61	(1.81)	4.38
HCKAX	0.45	(0.06)	0.00	(0.44)	0.00	0.00	0.84	(0.84)	1.95
IBALX	0.35	(0.01)	(0.07)	0.03	0.49	(0.33)	0.77	(0.74)	2.10
HILVX	0.57	(0.03)	(0.05)	0.02	0.71	(0.63)	1.21	(1.11)	3.45
JDHCX	0.15	0.00	(0.25)	(0.18)	0.14	(0.25)	0.41	(0.27)	1.07
JHYFX	0.15	0.00	(0.19)	0.03	0.11	(0.26)	0.41	(0.27)	1.07

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