Biotechnology Fund Correlations

RYBOX Fund

USD 64.21 0.24 0.38%

The correlation of Biotechnology Fund 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.

Biotechnology Fund Correlation With Market

Poor diversification

The correlation between Biotechnology Fund Class and DJI is 0.79 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Biotechnology Fund Class 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 Biotechnology Fund Class. 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 employment.

Moving together with Biotechnology Mutual Fund

0.95	RYBCX	Basic Materials	Pair Corr
0.94	RYBAX	Basic Materials	Pair Corr
0.9	RYBKX	Banking Fund Class	Pair Corr
0.95	RYBMX	Basic Materials	Pair Corr
0.8	RYBHX	Sp Midcap 400	Pair Corr
0.94	RYBIX	Basic Materials	Pair Corr
0.7	RYAKX	Russell 2000 15x	Pair Corr
0.8	RYAHX	Mid Cap 15x	Pair Corr
0.8	RYAQX	Inverse Government Long	Pair Corr
0.84	RYATX	Nasdaq 100 Fund	Pair Corr
0.71	RYAZX	Sp Smallcap 600	Pair Corr
0.82	RYAWX	Sp 500 Pure	Pair Corr
0.7	RYAVX	Sp Midcap 400	Pair Corr
0.81	RYDHX	Dow Jones Industrial	Pair Corr
0.8	RYDCX	Mid Cap 15x	Pair Corr
0.98	RYCFX	Biotechnology Fund Class	Pair Corr
0.95	RYCAX	Consumer Products	Pair Corr
0.83	RYCCX	Nasdaq 100 2x	Pair Corr
0.9	RYCNX	Transportation Fund Class	Pair Corr
0.87	RYCOX	Nasdaq 100 Fund	Pair Corr
0.94	RYCIX	Consumer Products	Pair Corr
0.79	RYCKX	Sp Midcap 400	Pair Corr
0.76	RYCVX	Dow 2x Strategy	Pair Corr
0.81	RYCYX	Dow 2x Strategy	Pair Corr

Moving against Biotechnology Mutual Fund

0.7	RYAFX	Inverse Russell 2000	Pair Corr
0.7	RYAGX	Inverse Mid Cap	Pair Corr
0.64	RYAUX	Utilities Fund Class	Pair Corr
0.4	RYARX	Inverse Sp 500	Pair Corr
0.77	RYCWX	Inverse Dow 2x	Pair Corr
0.75	RYGBX	Government Long Bond	Pair Corr
0.69	RYCQX	Inverse Russell 2000	Pair Corr
0.65	RYCUX	Utilities Fund Class	Pair Corr
0.51	RYCBX	Inverse Sp 500	Pair Corr

Related Correlations Analysis

	FSAWX	GCV	NCIDX	LCFYX	ARBOX
FSAWX		0.9	0.92	0.94	0.82	FSAWX
GCV	0.9		0.92	0.95	0.66	GCV
NCIDX	0.92	0.92		0.94	0.69	NCIDX
LCFYX	0.94	0.95	0.94		0.67	LCFYX
ARBOX	0.82	0.66	0.69	0.67		ARBOX
	FSAWX	GCV	NCIDX	LCFYX	ARBOX

Risk-Adjusted Indicators

There is a big difference between Biotechnology Mutual Fund performing well and Biotechnology Fund 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 Biotechnology Fund'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
FSAWX	0.11	0.02	(0.19)	0.41	0.00	(0.14)	0.19	(0.09)	1.03
GCV	0.77	0.08	0.04	0.26	0.86	(0.84)	2.13	(1.44)	4.09
NCIDX	0.73	0.11	0.06	0.75	0.79	(0.75)	1.67	(1.37)	3.81
LCFYX	0.76	0.09	0.07	0.20	0.83	(0.84)	1.95	(1.78)	3.81
ARBOX	0.11	0.08	0.11	(3.84)	0.00	(0.20)	0.09	(0.09)	3.52

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