Royce Premier Correlations

RPRCX Fund

USD 9.54 0.13 1.38%

The current 90-days correlation between Royce Premier and Royce Opportunity Fund is 0.94 (i.e., Almost no diversification). The correlation of Royce Premier 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 Premier Correlation With Market

Significant diversification

The correlation between Royce Premier Fund and DJI is 0.03 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Royce Premier Fund 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 Premier 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 main economic indicators.

Moving together with Royce Mutual Fund

0.95	ROFCX	Royce Opportunity	Pair Corr
0.88	ROFIX	Royce Opportunity	Pair Corr
0.87	ROFRX	Royce Opportunity	Pair Corr
0.9	RPFIX	Royce Premier	Pair Corr
0.89	RPMIX	Royce Pennsylvania Mutual	Pair Corr
0.91	RSEIX	Royce Special Equity	Pair Corr
0.9	RTRRX	Royce Total Return	Pair Corr
0.9	RTRIX	Royce Total Return	Pair Corr
0.89	RVPIX	Royce Smaller Companies	Pair Corr
0.86	RYMCX	Royce Micro Cap	Pair Corr
0.88	RYPCX	Royce Pennsylvania Mutual	Pair Corr
0.9	RYTCX	Royce Total Return	Pair Corr
0.93	VSMAX	Vanguard Small Cap	Pair Corr
0.88	VSCIX	Vanguard Small Cap	Pair Corr
0.93	VSCPX	Vanguard Small Cap	Pair Corr
0.88	NAESX	Vanguard Small Cap	Pair Corr
0.97	FSSNX	Fidelity Small Cap	Pair Corr
0.9	DFSTX	Us Small Cap	Pair Corr
0.95	PASVX	T Rowe Price	Pair Corr
0.95	PRVIX	T Rowe Price	Pair Corr
0.95	TRZVX	T Rowe Price	Pair Corr
0.95	PRSVX	T Rowe Price	Pair Corr
0.75	MLPNX	Oppenheimer Steelpath Mlp	Pair Corr
0.75	MLPLX	Oppenheimer Steelpath Mlp	Pair Corr
0.75	MLPMX	Oppenheimer Steelpath Mlp	Pair Corr
0.8	LSHAX	Horizon Spin Off Downward Rally	Pair Corr
0.75	OSPPX	Oppenheimer Steelpath Mlp	Pair Corr
0.75	SPMPX	Invesco Steelpath Mlp	Pair Corr
0.67	SMPSX	Semiconductor Ultrasector	Pair Corr
0.75	SPMJX	Invesco Steelpath Mlp	Pair Corr
0.88	GRSPX	Greenspring Fund Retail	Pair Corr
0.86	FBALX	Fidelity Balanced	Pair Corr
0.85	VFINX	Vanguard 500 Index	Pair Corr
0.88	VWELX	Vanguard Wellington	Pair Corr
0.81	VIGAX	Vanguard Growth Index	Pair Corr
0.81	INDEX	Sp 500 Equal	Pair Corr
0.81	AGTHX	Growth Fund	Pair Corr

Moving against Royce Mutual Fund

0.34

TGLDX

Tocqueville Gold

Pair Corr

Related Correlations Analysis

	ROFCX	ROFIX	ROFRX	RPRCX	RSEIX	RSQCX	RTRRX	RTRIX
ROFCX		0.91	0.91	0.95	0.85	0.8	0.89	0.89	ROFCX
ROFIX	0.91		1.0	0.88	0.94	0.88	0.96	0.96	ROFIX
ROFRX	0.91	1.0		0.87	0.94	0.89	0.96	0.95	ROFRX
RPRCX	0.95	0.88	0.87		0.91	0.81	0.9	0.9	RPRCX
RSEIX	0.85	0.94	0.94	0.91		0.9	0.97	0.97	RSEIX
RSQCX	0.8	0.88	0.89	0.81	0.9		0.85	0.85	RSQCX
RTRRX	0.89	0.96	0.96	0.9	0.97	0.85		1.0	RTRRX
RTRIX	0.89	0.96	0.95	0.9	0.97	0.85	1.0		RTRIX
	ROFCX	ROFIX	ROFRX	RPRCX	RSEIX	RSQCX	RTRRX	RTRIX

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Risk-Adjusted Indicators

There is a big difference between Royce Mutual Fund performing well and Royce Premier 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 Premier'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
ROFCX	1.05	0.14	0.03	0.88	1.07	(1.25)	2.42	(1.62)	7.58
ROFIX	1.02	(0.06)	0.01	0.08	1.08	(1.15)	2.29	(1.63)	7.44
ROFRX	1.02	(0.06)	0.01	0.08	1.11	(1.15)	2.34	(1.65)	7.47
RPRCX	0.84	0.10	(0.01)	2.62	0.95	(0.91)	2.06	(1.42)	5.88
RSEIX	0.76	(0.06)	(0.03)	0.07	0.79	(0.83)	1.68	(1.26)	7.59
RSQCX	0.77	(0.03)	(0.01)	0.09	0.78	(0.88)	1.73	(1.27)	7.49
RTRRX	0.90	(0.01)	0.05	0.11	0.81	(1.20)	2.32	(1.67)	7.23
RTRIX	0.90	(0.01)	0.05	0.11	0.78	(1.20)	2.25	(1.68)	7.18

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