Basic Materials Correlations

RYBCX Fund

USD 55.34 0.42 0.76%

The current 90-days correlation between Basic Materials and Basic Materials Fund is 1.0 (i.e., No risk reduction). 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

Very weak diversification

The correlation between Basic Materials Fund and DJI is 0.44 (i.e., Very 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 main economic indicators.

Moving together with Basic Mutual Fund

1.0	RYBAX	Basic Materials	Pair Corr
1.0	RYBMX	Basic Materials	Pair Corr
0.91	RYBHX	Sp Midcap 400	Pair Corr
1.0	RYBIX	Basic Materials	Pair Corr
0.98	RYBOX	Biotechnology Fund Class	Pair Corr
0.83	RYABX	Government Long Bond	Pair Corr
0.66	RYAEX	Europe 125x Strategy	Pair Corr
0.76	RYAUX	Utilities Fund Class	Pair Corr
0.7	RYATX	Nasdaq 100 Fund	Pair Corr
0.74	RYAVX	Sp Midcap 400	Pair Corr
0.62	RYDKX	Dow Jones Industrial	Pair Corr
0.99	RYCFX	Biotechnology Fund Class	Pair Corr
0.67	RYCEX	Europe 125x Strategy	Pair Corr
0.85	RYCGX	Government Long Bond	Pair Corr
0.94	RYCAX	Consumer Products	Pair Corr

Moving against Basic Mutual Fund

0.51	RYAFX	Inverse Russell 2000	Pair Corr
0.86	RYAQX	Inverse Government Long	Pair Corr
0.54	RYCQX	Inverse Russell 2000	Pair Corr
0.45	RYCWX	Inverse Dow 2x	Pair Corr

Related Correlations Analysis

	RYBAX	RYVCX	RYECX	RYBIX	RYCCX
RYBAX		0.31	0.45	1.0	0.34	RYBAX
RYVCX	0.31		0.94	0.31	0.37	RYVCX
RYECX	0.45	0.94		0.45	0.25	RYECX
RYBIX	1.0	0.31	0.45		0.33	RYBIX
RYCCX	0.34	0.37	0.25	0.33		RYCCX
	RYBAX	RYVCX	RYECX	RYBIX	RYCCX

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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
RYBAX	0.90	(0.28)	0.00	(0.27)	0.00	0.00	1.23	(1.38)	16.71
RYVCX	1.29	0.03	0.02	0.06	1.55	(1.42)	2.33	(2.58)	13.03
RYECX	0.87	0.02	0.02	0.07	1.25	(0.83)	1.67	(2.06)	6.48
RYBIX	0.89	(0.26)	0.00	(0.26)	0.00	0.00	1.29	(1.37)	15.43
RYCCX	1.80	(0.01)	0.00	(0.02)	2.86	(1.70)	3.32	(4.84)	13.87

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