Basic Materials Correlations

RYBCX Fund

USD 65.83 1.67 2.60%

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

Weak diversification

The correlation between Basic Materials Fund and DJI is 0.35 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Basic Materials 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 Basic Materials 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 manufacturing.

Moving together with Basic Mutual Fund

1.0	RYBAX	Basic Materials	Pair Corr
0.87	RYBKX	Banking Fund Class	Pair Corr
0.97	RYBMX	Basic Materials	Pair Corr
0.7	RYBHX	Sp Midcap 400	Pair Corr
1.0	RYBIX	Basic Materials	Pair Corr
0.9	RYBOX	Biotechnology Fund Class	Pair Corr
0.85	RYAEX	Europe 125x Strategy	Pair Corr
0.71	RYAHX	Mid Cap 15x	Pair Corr
0.68	RYAQX	Inverse Government Long	Pair Corr
0.75	RYATX	Nasdaq 100 Fund	Pair Corr
0.76	RYAWX	Sp 500 Pure	Pair Corr
0.73	RYDHX	Dow Jones Industrial	Pair Corr
0.75	RYDCX	Mid Cap 15x	Pair Corr
0.73	RYDKX	Dow Jones Industrial	Pair Corr
0.94	RYCFX	Biotechnology Fund Class	Pair Corr
0.87	RYCEX	Europe 125x Strategy	Pair Corr
0.96	RYCAX	Consumer Products	Pair Corr
0.82	RYCCX	Nasdaq 100 2x	Pair Corr
0.92	RYCNX	Transportation Fund Class	Pair Corr

Moving against Basic Mutual Fund

0.65	RYABX	Government Long Bond	Pair Corr
0.55	RYAFX	Inverse Russell 2000	Pair Corr
0.51	RYAGX	Inverse Mid Cap	Pair Corr
0.65	RYAUX	Utilities Fund Class	Pair Corr
0.34	RYARX	Inverse Sp 500	Pair Corr
0.69	RYCWX	Inverse Dow 2x	Pair Corr
0.66	RYCGX	Government Long Bond	Pair Corr
0.51	RYCLX	Inverse Mid Cap	Pair Corr
0.47	RYCBX	Inverse Sp 500	Pair Corr

Related Correlations Analysis

	CSCVX	BGRWX	JMCRX	ICHKX	EMSLX	LVAMX	NOM	FSEBX	RYHHX	ZSCCX
CSCVX		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	CSCVX
BGRWX	0.0		0.87	0.23	0.34	0.83	0.87	0.68	0.77	0.85	BGRWX
JMCRX	0.0	0.87		0.19	0.46	0.87	0.76	0.66	0.86	0.87	JMCRX
ICHKX	0.0	0.23	0.19		0.56	0.27	0.21	0.51	0.22	0.27	ICHKX
EMSLX	0.0	0.34	0.46	0.56		0.24	0.38	0.59	0.39	0.44	EMSLX
LVAMX	0.0	0.83	0.87	0.27	0.24		0.72	0.67	0.81	0.86	LVAMX
NOM	0.0	0.87	0.76	0.21	0.38	0.72		0.65	0.78	0.73	NOM
FSEBX	0.0	0.68	0.66	0.51	0.59	0.67	0.65		0.78	0.72	FSEBX
RYHHX	0.0	0.77	0.86	0.22	0.39	0.81	0.78	0.78		0.78	RYHHX
ZSCCX	0.0	0.85	0.87	0.27	0.44	0.86	0.73	0.72	0.78		ZSCCX
	CSCVX	BGRWX	JMCRX	ICHKX	EMSLX	LVAMX	NOM	FSEBX	RYHHX	ZSCCX

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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

JMCRX	+ 0.87	BGRWX
NOM	+ 0.87	BGRWX
LVAMX	+ 0.87	JMCRX
ZSCCX	+ 0.87	JMCRX
RYHHX	+ 0.86	JMCRX
ZSCCX	+ 0.86	LVAMX

High negative correlations

ZSCCX	- 0.0	CSCVX
RYHHX	- 0.0	CSCVX
FSEBX	- 0.0	CSCVX
NOM	- 0.0	CSCVX
LVAMX	- 0.0	CSCVX
EMSLX	- 0.0	CSCVX

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
CSCVX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
BGRWX	0.75	0.21	0.27	0.33	0.28	(0.97)	1.22	(0.88)	14.47
JMCRX	0.90	(0.01)	0.01	0.07	0.96	(1.09)	2.28	(1.87)	4.03
ICHKX	0.74	(0.03)	(0.06)	0.03	1.03	(0.82)	1.83	(1.16)	4.79
EMSLX	0.75	0.03	0.00	0.13	1.20	(0.73)	1.64	(1.66)	5.19
LVAMX	0.49	(0.04)	(0.08)	0.02	0.70	(0.50)	1.02	(1.13)	3.78
NOM	1.05	0.11	0.03	1.30	1.12	(1.15)	2.76	(1.65)	6.54
FSEBX	0.67	(0.01)	(0.01)	0.07	0.89	(0.67)	1.28	(1.53)	3.85
RYHHX	0.16	0.00	(0.35)	0.06	0.11	(0.19)	0.38	(0.26)	1.15
ZSCCX	0.91	0.04	(0.02)	0.24	1.07	(1.01)	1.97	(1.90)	4.89

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