Royce Micro Correlations

RMT Stock

USD 11.89 0.12 1.02%

The current 90-days correlation between Royce Micro Cap and Gabelli Utility Closed is 0.03 (i.e., Significant diversification). The correlation of Royce Micro 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 Micro Correlation With Market

Almost no diversification

The correlation between Royce Micro Cap and DJI is 0.93 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Royce Micro Cap and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Royce Stock

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Royce Micro Cap. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in industry.

Moving together with Royce Stock

0.88	LBS	Life Banc Split	Pair Corr
0.92	DFN	Dividend 15 Split	Pair Corr
0.78	CSOC-A	Canso Select Opportu	Pair Corr
0.93	DGS	Dividend Growth Split	Pair Corr
0.92	ASA	ASA Gold	Pair Corr
0.79	HRZN	Horizon Technology	Pair Corr
0.91	SBC	Brompton Split Banc	Pair Corr
0.82	URB-A	Urbana	Pair Corr
0.87	LCS	Brompton Lifeco Split Split	Pair Corr
0.77	URB	Urbana	Pair Corr
0.68	CGL	CATLIN GROUP	Pair Corr
0.82	BBDC	Barings BDC	Pair Corr
0.81	PWI	Sustainable Power	Pair Corr
0.94	TRIN	Trinity Capital	Pair Corr
0.66	CGBD	Carlyle Secured Lending	Pair Corr
0.94	CSWC	Capital Southwest	Pair Corr
0.77	IRNRF	Iron Road Limited	Pair Corr
0.8	JNJ	Johnson Johnson	Pair Corr

Moving against Royce Stock

0.4	NMFC	New Mountain Finance	Pair Corr
0.34	EPGG	Empire Global Gaming	Pair Corr
0.32	MFIC	MidCap Financial Inv	Pair Corr
0.71	MSFT	Microsoft	Pair Corr
0.42	MMM	3M Company	Pair Corr
0.33	GBHPF	Global Hemp Group	Pair Corr
0.33	NVNIW	Nvni Group Limited	Pair Corr

Related Correlations Analysis

	GUT	ANTUX	CRMMX	RSIGX	GUBGX	TCVAX	BLW	FTHY	VGM	SVOAX
GUT		0.66	0.66	0.71	0.71	0.65	0.61	0.72	0.7	0.65	GUT
ANTUX	0.66		0.9	0.96	0.96	0.95	0.69	0.85	0.8	0.95	ANTUX
CRMMX	0.66	0.9		0.89	0.89	0.96	0.53	0.81	0.89	0.85	CRMMX
RSIGX	0.71	0.96	0.89		1.0	0.94	0.74	0.92	0.77	0.87	RSIGX
GUBGX	0.71	0.96	0.89	1.0		0.94	0.74	0.92	0.77	0.87	GUBGX
TCVAX	0.65	0.95	0.96	0.94	0.94		0.61	0.84	0.84	0.88	TCVAX
BLW	0.61	0.69	0.53	0.74	0.74	0.61		0.82	0.37	0.64	BLW
FTHY	0.72	0.85	0.81	0.92	0.92	0.84	0.82		0.7	0.77	FTHY
VGM	0.7	0.8	0.89	0.77	0.77	0.84	0.37	0.7		0.79	VGM
SVOAX	0.65	0.95	0.85	0.87	0.87	0.88	0.64	0.77	0.79		SVOAX
	GUT	ANTUX	CRMMX	RSIGX	GUBGX	TCVAX	BLW	FTHY	VGM	SVOAX

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Risk-Adjusted Indicators

There is a big difference between Royce Stock performing well and Royce Micro Company 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 Micro'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
GUT	0.65	0.01	(0.06)	0.20	0.93	(0.70)	1.18	(1.00)	5.23
ANTUX	0.71	0.29	0.33	0.64	0.00	(0.94)	1.68	(1.12)	8.50
CRMMX	0.87	0.22	0.28	0.27	0.44	(1.08)	2.24	(1.27)	9.54
RSIGX	0.66	0.09	0.08	0.19	0.65	(0.70)	1.32	(1.43)	3.54
GUBGX	0.67	0.09	0.08	0.19	0.66	(0.73)	1.30	(1.46)	3.59
TCVAX	0.69	0.19	0.23	0.28	0.34	(0.81)	1.80	(1.12)	5.13
BLW	0.27	(0.01)	(0.22)	0.01	0.28	(0.32)	0.45	(0.52)	1.33
FTHY	0.25	0.01	(0.14)	0.10	0.28	(0.27)	0.51	(0.57)	1.90
VGM	0.34	0.04	(0.08)	3.08	0.39	(0.37)	0.68	(0.60)	2.24
SVOAX	0.75	0.35	0.54	1.50	0.00	(0.99)	1.18	(0.68)	19.62

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