Basic Materials Correlations

BMPIX Fund

USD 137.14 1.58 1.17%

The current 90-days correlation between Basic Materials Ultr and Gabelli Convertible And is 0.2 (i.e., Modest diversification). The correlation of Basic Materials 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.

Basic Materials Correlation With Market

Very poor diversification

The correlation between Basic Materials Ultrasector and DJI is 0.84 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Basic Materials Ultrasector 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 Basic Materials Ultrasector. 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 gross domestic product.

Moving together with Basic Mutual Fund

0.91	UJPIX	Ultrajapan Profund Steady Growth	Pair Corr
0.95	MLPSX	Mid Cap Value	Pair Corr
0.95	MLPIX	Mid Cap Value	Pair Corr
0.95	ENPSX	Oil Gas Ultrasector	Pair Corr
0.95	ENPIX	Oil Gas Ultrasector	Pair Corr
0.62	PHPIX	Pharmaceuticals Ultrasector	Pair Corr
0.61	PHPSX	Pharmaceuticals Ultrasector	Pair Corr
0.65	ULPIX	Ultrabull Profund	Pair Corr
0.67	ULPSX	Ultrabull Profund	Pair Corr
0.95	OEPSX	Oil Equipment Services	Pair Corr
0.95	OEPIX	Oil Equipment Services	Pair Corr
0.94	SVPIX	Small Cap Value	Pair Corr
0.94	SVPSX	Small Cap Value	Pair Corr
0.95	UMPSX	Ultramid Cap Profund	Pair Corr
0.95	UMPIX	Ultramid Cap Profund	Pair Corr

Moving against Basic Mutual Fund

0.96	UKPSX	Ultrashort Japan Profund	Pair Corr
0.96	UKPIX	Ultrashort Japan Profund	Pair Corr
0.95	UIPIX	Ultrashort Mid Cap	Pair Corr
0.95	UIPSX	Ultrashort Mid Cap	Pair Corr
0.87	SRPSX	Short Real Estate	Pair Corr
0.82	SRPIX	Short Real Estate	Pair Corr
0.79	BTCFX	Bitcoin Strategy Profund	Pair Corr
0.87	INPIX	Internet Ultrasector	Pair Corr
0.87	INPSX	Internet Ultrasector	Pair Corr
0.41	UOPIX	Ultra Nasdaq 100	Pair Corr
0.4	UOPSX	Ultranasdaq 100 Profund	Pair Corr

Related Correlations Analysis

	MCCVX	MCFCX	PRCCX	LCFSX	ARBOX	GACCX	GCV
MCCVX		0.88	0.87	0.88	0.92	0.9	0.89	MCCVX
MCFCX	0.88		0.94	0.97	0.8	0.95	0.97	MCFCX
PRCCX	0.87	0.94		0.99	0.78	0.86	0.93	PRCCX
LCFSX	0.88	0.97	0.99		0.79	0.92	0.96	LCFSX
ARBOX	0.92	0.8	0.78	0.79		0.85	0.82	ARBOX
GACCX	0.9	0.95	0.86	0.92	0.85		0.93	GACCX
GCV	0.89	0.97	0.93	0.96	0.82	0.93		GCV
	MCCVX	MCFCX	PRCCX	LCFSX	ARBOX	GACCX	GCV

Risk-Adjusted Indicators

There is a big difference between Basic Mutual Fund performing well and Basic Materials 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 Basic Materials' 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
MCCVX	0.62	0.22	0.32	0.52	0.00	(0.76)	1.22	(0.73)	8.19
MCFCX	0.21	0.03	(0.11)	0.20	0.00	(0.29)	0.55	(0.38)	1.22
PRCCX	0.70	0.07	0.06	0.19	0.66	(0.77)	1.56	(1.37)	3.83
LCFSX	0.77	0.11	0.09	0.25	0.72	(0.83)	1.95	(1.45)	4.09
ARBOX	0.11	0.08	0.00	(3.33)	0.00	(0.20)	0.17	(0.09)	3.52
GACCX	0.43	0.12	0.15	0.32	0.14	(0.50)	0.88	(0.70)	2.47
GCV	0.71	0.14	0.13	0.46	0.49	(0.94)	2.13	(1.11)	4.09

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