Sp Midcap Correlations

RYAVX Fund

USD 83.45 1.37 1.62%

The current 90-days correlation between Sp Midcap 400 and WisdomTree High Income is 0.03 (i.e., Significant diversification). The correlation of Sp Midcap 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.

Sp Midcap Correlation With Market

Very poor diversification

The correlation between Sp Midcap 400 and DJI is 0.88 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sp Midcap 400 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 Sp Midcap 400. 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 real.

Moving together with RYAVX Mutual Fund

0.84	RYBCX	Basic Materials	Pair Corr
0.85	RYBAX	Basic Materials	Pair Corr
0.87	RYBKX	Banking Fund Class	Pair Corr
0.83	RYBMX	Basic Materials	Pair Corr
0.87	RYBHX	Sp Midcap 400	Pair Corr
0.85	RYBIX	Basic Materials	Pair Corr
0.75	RYBOX	Biotechnology Fund Class	Pair Corr
0.87	RYAKX	Russell 2000 15x	Pair Corr
0.83	RYAEX	Europe 125x Strategy	Pair Corr
0.89	RYAHX	Mid Cap 15x	Pair Corr
0.75	RYAQX	Inverse Government Long	Pair Corr
0.68	RYATX	Nasdaq 100 Fund	Pair Corr
0.66	RYANX	Nova Fund Class	Pair Corr
0.98	RYAZX	Sp Smallcap 600	Pair Corr
0.78	RYAWX	Sp 500 Pure	Pair Corr
0.89	RYDHX	Dow Jones Industrial	Pair Corr
0.94	RYDCX	Mid Cap 15x	Pair Corr
0.82	RYDKX	Dow Jones Industrial	Pair Corr
0.78	RYEAX	Energy Fund Class	Pair Corr
0.77	RYECX	Energy Fund Class	Pair Corr
0.72	RYCFX	Biotechnology Fund Class	Pair Corr
0.86	RYCEX	Europe 125x Strategy	Pair Corr
0.75	RYCAX	Consumer Products Steady Growth	Pair Corr
0.66	RYCCX	Nasdaq 100 2x	Pair Corr
0.84	RYCNX	Transportation Fund Class	Pair Corr
0.9	RYCMX	Russell 2000 15x	Pair Corr

Moving against RYAVX Mutual Fund

0.88	RYAFX	Inverse Russell 2000	Pair Corr
0.86	RYAGX	Inverse Mid Cap	Pair Corr
0.69	RYABX	Government Long Bond	Pair Corr
0.58	RYARX	Inverse Sp 500	Pair Corr
0.38	RYAUX	Utilities Fund Class	Pair Corr
0.92	RYCLX	Inverse Mid Cap	Pair Corr
0.88	RYCWX	Inverse Dow 2x	Pair Corr
0.88	RYCZX	Inverse Dow 2x	Pair Corr
0.87	RYCQX	Inverse Russell 2000	Pair Corr
0.7	RYCGX	Government Long Bond	Pair Corr
0.69	RYCBX	Inverse Sp 500 Steady Growth	Pair Corr
0.69	RYGBX	Government Long Bond	Pair Corr
0.4	RYCUX	Utilities Fund Class	Pair Corr

Related Correlations Analysis

	RYAZX	RYWAX	RYZAX	BPI	RYPIX	SGRT	RYRIX	WTMU	WTMY
RYAZX		0.95	0.96	-0.46	0.84	0.76	0.93	0.89	0.85	RYAZX
RYWAX	0.95		0.93	-0.35	0.9	0.83	0.94	0.82	0.72	RYWAX
RYZAX	0.96	0.93		-0.52	0.91	0.73	0.91	0.9	0.81	RYZAX
BPI	-0.46	-0.35	-0.52		-0.39	-0.01	-0.19	-0.5	-0.48	BPI
RYPIX	0.84	0.9	0.91	-0.39		0.78	0.87	0.75	0.62	RYPIX
SGRT	0.76	0.83	0.73	-0.01	0.78		0.85	0.7	0.62	SGRT
RYRIX	0.93	0.94	0.91	-0.19	0.87	0.85		0.8	0.72	RYRIX
WTMU	0.89	0.82	0.9	-0.5	0.75	0.7	0.8		0.95	WTMU
WTMY	0.85	0.72	0.81	-0.48	0.62	0.62	0.72	0.95		WTMY
	RYAZX	RYWAX	RYZAX	BPI	RYPIX	SGRT	RYRIX	WTMU	WTMY

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

RYZAX	+ 0.96	RYAZX
RYWAX	+ 0.95	RYAZX
WTMY	+ 0.95	WTMU
RYRIX	+ 0.94	RYWAX
RYRIX	+ 0.93	RYAZX
RYZAX	+ 0.93	RYWAX

High negative correlations

BPI	- 0.52	RYZAX
WTMU	- 0.5	BPI
WTMY	- 0.48	BPI
BPI	- 0.46	RYAZX
RYPIX	- 0.39	BPI
BPI	- 0.35	RYWAX

Risk-Adjusted Indicators

There is a big difference between RYAVX Mutual Fund performing well and Sp Midcap 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 Sp Midcap'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
RYAZX	0.99	0.15	0.15	0.15	0.84	(1.15)	2.83	(1.75)	5.76
RYWAX	0.84	0.05	0.05	0.08	0.92	(0.96)	1.87	(1.72)	4.88
RYZAX	0.66	0.13	0.15	0.20	0.56	(0.75)	1.80	(1.20)	3.60
BPI	2.28	(0.80)	0.00	(0.61)	0.00	0.00	3.18	(5.55)	12.56
RYPIX	0.95	0.10	0.09	0.12	0.99	(1.00)	1.97	(1.86)	5.52
SGRT	1.62	(0.05)	(0.01)	0.00	2.59	(1.42)	3.33	(4.05)	11.43
RYRIX	0.74	0.01	0.01	0.04	0.80	(0.84)	1.67	(1.34)	4.61
WTMU	0.07	0.02	(0.18)	0.90	0.00	(0.09)	0.15	(0.12)	0.46
WTMY	0.06	0.01	(0.21)	0.69	0.00	(0.08)	0.16	(0.12)	0.55

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