Basic Materials Correlations

RYBIX Fund

USD 98.45 5.87 5.63%

The current 90-days correlation between Basic Materials and First Trust Exchange Traded is 0.45 (i.e., Very weak diversification). 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 poor diversification

The correlation between Basic Materials Fund and DJI is 0.8 (i.e., Very poor 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 gross domestic product.

Moving together with Basic Mutual Fund

1.0	RYBCX	Basic Materials	Pair Corr
1.0	RYBAX	Basic Materials	Pair Corr
0.88	RYBKX	Banking Fund Class	Pair Corr
1.0	RYBMX	Basic Materials	Pair Corr
0.94	RYBHX	Sp Midcap 400	Pair Corr
0.94	RYBOX	Biotechnology Fund Class	Pair Corr
0.96	RYAEX	Europe 125x Strategy	Pair Corr
0.84	RYAHX	Mid Cap 15x	Pair Corr
0.89	RYATX	Nasdaq 100 Fund	Pair Corr
0.7	RYANX	Nova Fund Class	Pair Corr
0.89	RYAZX	Sp Smallcap 600	Pair Corr
0.96	RYAWX	Sp 500 Pure	Pair Corr
0.85	RYAVX	Sp Midcap 400	Pair Corr
0.88	RYDHX	Dow Jones Industrial	Pair Corr
0.92	RYDCX	Mid Cap 15x	Pair Corr
0.87	RYDKX	Dow Jones Industrial	Pair Corr
0.7	RYEAX	Energy Fund Class	Pair Corr
0.7	RYECX	Energy Fund Class	Pair Corr
0.94	RYCFX	Biotechnology Fund Class	Pair Corr
0.96	RYCEX	Europe 125x Strategy	Pair Corr
0.62	RYCHX	Technology Fund Class	Pair Corr
0.95	RYCAX	Consumer Products	Pair Corr
0.82	RYCCX	Nasdaq 100 2x	Pair Corr
0.89	RYCNX	Transportation Fund Class	Pair Corr
0.88	RYCMX	Russell 2000 15x	Pair Corr
0.7	RYCPX	Consumer Products	Pair Corr
0.91	RYCOX	Nasdaq 100 Fund	Pair Corr

Moving against Basic Mutual Fund

0.9	RYAGX	Inverse Mid Cap	Pair Corr
0.87	RYAFX	Inverse Russell 2000	Pair Corr
0.72	RYABX	Government Long Bond	Pair Corr
0.61	RYARX	Inverse Sp 500	Pair Corr
0.41	RYAUX	Utilities Fund Class	Pair Corr
0.35	RYACX	Inverse Nasdaq 100	Pair Corr
0.32	RYAIX	Inverse Nasdaq 100	Pair Corr
0.32	RYALX	Inverse Nasdaq 100	Pair Corr
0.32	RYAPX	Inverse Nasdaq 100	Pair Corr
0.89	RYCLX	Inverse Mid Cap	Pair Corr
0.85	RYCWX	Inverse Dow 2x	Pair Corr
0.85	RYCZX	Inverse Dow 2x	Pair Corr
0.72	RYGBX	Government Long Bond	Pair Corr
0.68	RYCBX	Inverse Sp 500	Pair Corr
0.44	RYCUX	Utilities Fund Class	Pair Corr
0.42	RYCDX	Rydex Inverse Nasdaq	Pair Corr

Related Correlations Analysis

	RYBAX	RYBMX	RYUIX	CVLEX	AFALX	RSJN	TGFRX	PRSD	PCIG	RSSE
RYBAX		1.0	-0.41	0.97	0.92	0.94	0.72	0.93	0.63	0.94	RYBAX
RYBMX	1.0		-0.4	0.97	0.92	0.94	0.72	0.93	0.63	0.94	RYBMX
RYUIX	-0.41	-0.4		-0.45	-0.47	-0.46	-0.49	-0.53	-0.25	-0.44	RYUIX
CVLEX	0.97	0.97	-0.45		0.94	0.97	0.73	0.93	0.69	0.96	CVLEX
AFALX	0.92	0.92	-0.47	0.94		0.97	0.77	0.95	0.59	0.97	AFALX
RSJN	0.94	0.94	-0.46	0.97	0.97		0.82	0.92	0.71	1.0	RSJN
TGFRX	0.72	0.72	-0.49	0.73	0.77	0.82		0.66	0.56	0.81	TGFRX
PRSD	0.93	0.93	-0.53	0.93	0.95	0.92	0.66		0.52	0.91	PRSD
PCIG	0.63	0.63	-0.25	0.69	0.59	0.71	0.56	0.52		0.73	PCIG
RSSE	0.94	0.94	-0.44	0.96	0.97	1.0	0.81	0.91	0.73		RSSE
	RYBAX	RYBMX	RYUIX	CVLEX	AFALX	RSJN	TGFRX	PRSD	PCIG	RSSE

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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

RYBMX	+ 1.0	RYBAX
RSSE	+ 1.0	RSJN
CVLEX	+ 0.97	RYBAX
CVLEX	+ 0.97	RYBMX
RSJN	+ 0.97	CVLEX
RSJN	+ 0.97	AFALX

High negative correlations

PRSD	- 0.53	RYUIX
TGFRX	- 0.49	RYUIX
AFALX	- 0.47	RYUIX
RSJN	- 0.46	RYUIX
CVLEX	- 0.45	RYUIX
RSSE	- 0.44	RYUIX

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	1.24	0.47	0.25	1.49	1.28	(1.43)	2.32	(2.01)	15.43
RYBMX	1.31	0.57	0.31	3.40	1.21	(1.53)	2.60	(2.01)	14.95
RYUIX	0.58	0.00	0.00	0.00	0.00	0.00	1.19	(1.12)	4.31
CVLEX	0.57	0.16	0.17	(2.91)	0.47	(0.65)	1.28	(1.27)	4.06
AFALX	0.51	0.11	0.13	(1.63)	0.34	(0.62)	1.06	(0.77)	3.36
RSJN	0.32	0.06	0.05	(1.60)	0.26	(0.37)	0.85	(0.71)	2.04
TGFRX	1.42	0.03	0.00	0.13	2.04	(1.31)	2.62	(3.12)	9.93
PRSD	0.05	0.01	(0.30)	(1.90)	0.00	(0.08)	0.12	(0.08)	0.56
PCIG	0.81	(0.06)	0.00	(0.17)	0.00	0.00	1.32	(2.00)	5.30
RSSE	0.36	0.06	0.04	(2.82)	0.30	(0.42)	0.94	(0.78)	2.04

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