Royce Dividend Correlations

RDVIX Fund

USD 6.13 0.08 1.32%

The current 90-days correlation between Royce Dividend Value and Old Westbury Municipal is 0.14 (i.e., Average diversification). The correlation of Royce Dividend 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.

Royce Dividend Correlation With Market

Average diversification

The correlation between Royce Dividend Value 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 Royce Dividend Value and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Royce Dividend Value. 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 Royce Mutual Fund

0.99	RPFFX	Royce Premier	Pair Corr
0.99	RSEFX	Royce Special Equity	Pair Corr
0.66	RVPHX	Royce Smaller Companies	Pair Corr
0.93	RVVHX	Royce Small Cap	Pair Corr
1.0	RYDVX	Royce Dividend Value	Pair Corr
0.7	RYIPX	Royce International	Pair Corr
0.82	RYOFX	Royce Opportunity	Pair Corr
0.93	RYOTX	Royce Micro Cap	Pair Corr
0.98	RYPFX	Royce Pennsylvania Mutual	Pair Corr
0.99	RYPRX	Royce Premier	Pair Corr
0.82	RYPNX	Royce Opportunity	Pair Corr
0.99	RYSEX	Royce Special Equity	Pair Corr
0.81	RYTFX	Royce Total Return	Pair Corr
0.81	RYTRX	Royce Total Return	Pair Corr
0.94	RYVFX	Royce Small Cap	Pair Corr
0.66	RYVPX	Royce Smaller Companies	Pair Corr
0.69	RIPNX	Royce International	Pair Corr
0.7	RIPIX	Royce International	Pair Corr
0.93	RMCFX	Royce Micro Cap	Pair Corr
0.98	PENNX	Royce Pennsylvania Mutual	Pair Corr
0.79	RSNYX	Victory Global Natural	Pair Corr
0.79	RSNRX	Victory Global Natural	Pair Corr
0.82	RMQAX	Monthly Rebalance	Pair Corr

Moving against Royce Mutual Fund

0.63	BFGFX	Baron Focused Growth	Pair Corr
0.54	QSPRX	Aqr Style Premia	Pair Corr
0.37	DXNLX	Direxion Monthly Nasdaq	Pair Corr

Related Correlations Analysis

	OWMBX	JAFLX	TTRBX	ACITX	SNCAX
OWMBX		0.81	0.85	0.66	0.95	OWMBX
JAFLX	0.81		0.87	0.92	0.84	JAFLX
TTRBX	0.85	0.87		0.73	0.79	TTRBX
ACITX	0.66	0.92	0.73		0.67	ACITX
SNCAX	0.95	0.84	0.79	0.67		SNCAX
	OWMBX	JAFLX	TTRBX	ACITX	SNCAX

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Royce Mutual Fund performing well and Royce Dividend 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 Royce Dividend'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
OWMBX	0.12	0.00	(0.28)	0.25	0.15	(0.16)	0.26	(0.35)	1.05
JAFLX	0.24	(0.02)	(0.30)	(0.10)	0.28	(0.32)	0.61	(0.61)	1.74
TTRBX	0.15	(0.01)	(0.48)	(0.11)	0.14	(0.20)	0.41	(0.30)	1.01
ACITX	0.19	(0.02)	0.00	(0.18)	0.00	0.00	0.38	(0.48)	1.15
SNCAX	0.13	(0.01)	(0.35)	(0.10)	0.19	(0.14)	0.29	(0.29)	0.94

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC