Biotechnology Fund Correlations

RYCFX Fund

USD 42.87 0.40 0.92%

The current 90-days correlation between Biotechnology Fund Class and Scharf Balanced Opportunity is 0.06 (i.e., Significant diversification). 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

Good diversification

The correlation between Biotechnology Fund Class and DJI is -0.08 (i.e., Good 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 census.

Moving together with Biotechnology Mutual Fund

0.72	RYBCX	Basic Materials	Pair Corr
0.71	RYBAX	Basic Materials	Pair Corr
0.68	RYBKX	Banking Fund Class	Pair Corr
0.71	RYBMX	Basic Materials	Pair Corr
0.67	RYBIX	Basic Materials	Pair Corr
0.76	RYBOX	Biotechnology Fund Class	Pair Corr
0.61	RYAEX	Europe 125x Strategy	Pair Corr
0.68	RYAQX	Inverse Government Long	Pair Corr
0.64	RYATX	Nasdaq 100 Fund	Pair Corr
0.7	RYDKX	Dow Jones Industrial	Pair Corr
0.93	RYCAX	Consumer Products Potential Growth	Pair Corr
0.78	RYCCX	Nasdaq 100 2x Potential Growth	Pair Corr
0.86	RYCNX	Transportation Fund Class	Pair Corr

Moving against Biotechnology Mutual Fund

0.55	RYABX	Government Long Bond	Pair Corr
0.31	RYAFX	Inverse Russell 2000	Pair Corr
0.65	RYAUX	Utilities Fund Class	Pair Corr
0.56	RYCGX	Government Long Bond	Pair Corr
0.66	RYCWX	Inverse Dow 2x	Pair Corr
0.36	RYCBX	Inverse Sp 500	Pair Corr
0.32	RYCRX	Real Estate Fund	Pair Corr

Related Correlations Analysis

	LOGBX	FVKVWX	FUHKBX	REMVX	RPBAX	OPTCX
LOGBX		0.27	0.59	0.27	0.73	0.58	LOGBX
FVKVWX	0.27		0.71	0.73	0.61	0.82	FVKVWX
FUHKBX	0.59	0.71		0.58	0.67	0.87	FUHKBX
REMVX	0.27	0.73	0.58		0.73	0.73	REMVX
RPBAX	0.73	0.61	0.67	0.73		0.8	RPBAX
OPTCX	0.58	0.82	0.87	0.73	0.8		OPTCX
	LOGBX	FVKVWX	FUHKBX	REMVX	RPBAX	OPTCX

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
LOGBX	0.50	0.00	(0.05)	0.08	0.63	(0.55)	0.85	(0.94)	5.36
FVKVWX	0.64	0.11	0.06	0.79	0.69	(0.72)	1.49	(1.27)	3.69
FUHKBX	0.58	(0.03)	(0.06)	0.03	0.82	(0.62)	1.18	(0.97)	4.66
REMVX	0.67	0.11	0.09	0.23	0.71	(0.80)	1.47	(0.86)	4.38
RPBAX	0.43	0.09	0.08	0.25	0.28	(0.48)	0.85	(0.75)	5.17
OPTCX	0.16	0.00	(0.25)	0.05	0.13	(0.22)	0.40	(0.40)	1.01

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