Biotechnology Fund Correlations

RYCFX Fund

USD 44.49 0.08 0.18%

The current 90-days correlation between Biotechnology Fund Class and Chase Growth Fund is -0.03 (i.e., Good 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

Very poor diversification

The correlation between Biotechnology Fund Class and DJI is 0.81 (i.e., Very 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 price.

Moving together with BIOTECHNOLOGY Mutual Fund

0.95	RYBCX	Basic Materials	Pair Corr
0.94	RYBAX	Basic Materials	Pair Corr
0.93	RYBMX	Basic Materials	Pair Corr
0.94	RYBIX	Basic Materials	Pair Corr
0.75	RYAKX	Russell 2000 15x	Pair Corr
0.81	RYAHX	Mid Cap 15x	Pair Corr
0.82	RYAQX	Inverse Government Long	Pair Corr
0.92	RYAWX	Sp 500 Pure	Pair Corr
0.7	RYAVX	Sp Midcap 400	Pair Corr
0.82	RYDHX	Dow Jones Industrial	Pair Corr
0.97	RYCIX	Consumer Products	Pair Corr
0.8	RYCKX	Sp Midcap 400	Pair Corr
0.79	RYCVX	Dow 2x Strategy	Pair Corr
0.79	RYFNX	Financial Services	Pair Corr
0.77	RYFIX	Financial Services	Pair Corr
0.76	RYFCX	Financial Services	Pair Corr
0.77	RYFAX	Financial Services	Pair Corr
0.83	RYHHX	High Yield Strategy	Pair Corr
0.85	RYHGX	High Yield Strategy	Pair Corr
0.85	RYHIX	Health Care Fund	Pair Corr
0.85	RYHDX	High Yield Strategy	Pair Corr
0.89	RYHCX	Health Care Fund	Pair Corr
0.87	RYKIX	Banking Fund Investor	Pair Corr
0.85	RYMPX	Precious Metals Steady Growth	Pair Corr
0.76	RYLIX	Leisure Fund Investor	Pair Corr
0.82	RYLDX	Dow 2x Strategy	Pair Corr
0.74	RYLCX	Leisure Fund Class	Pair Corr
0.99	RYOIX	Biotechnology Fund	Pair Corr
0.62	RYNHX	Nova Fund Class	Pair Corr
0.89	RYPIX	Transportation Fund	Pair Corr

Moving against BIOTECHNOLOGY Mutual Fund

0.78	RYABX	Government Long Bond	Pair Corr
0.74	RYCQX	Inverse Russell 2000	Pair Corr
0.52	RYIHX	Inverse High Yield	Pair Corr
0.64	RYSDX	Strengthening Dollar	Pair Corr
0.55	RYUCX	Inverse Sp 500	Pair Corr
0.48	RYUIX	Utilities Fund Investor	Pair Corr
0.47	RYURX	Inverse Sp 500	Pair Corr

Related Correlations Analysis

	EIPIX	HCEGX	LWLAX	TMCAX	VASGX	LANIX	CHASX
EIPIX		0.54	0.88	0.91	0.88	0.8	0.85	EIPIX
HCEGX	0.54		0.69	0.69	0.83	0.79	0.74	HCEGX
LWLAX	0.88	0.69		0.92	0.94	0.94	0.84	LWLAX
TMCAX	0.91	0.69	0.92		0.9	0.88	0.89	TMCAX
VASGX	0.88	0.83	0.94	0.9		0.92	0.9	VASGX
LANIX	0.8	0.79	0.94	0.88	0.92		0.85	LANIX
CHASX	0.85	0.74	0.84	0.89	0.9	0.85		CHASX
	EIPIX	HCEGX	LWLAX	TMCAX	VASGX	LANIX	CHASX

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
EIPIX	0.77	0.38	0.41	17.68	0.00	(1.00)	1.28	(0.86)	15.53
HCEGX	0.55	(0.04)	(0.07)	0.04	0.75	(0.54)	1.23	(1.19)	3.61
LWLAX	0.28	0.04	(0.12)	(9.20)	0.23	(0.34)	0.59	(0.53)	2.52
TMCAX	1.01	0.27	0.26	1.21	0.42	(1.39)	2.45	(1.29)	14.19
VASGX	0.46	0.03	(0.01)	0.14	0.48	(0.51)	0.92	(0.94)	2.57
LANIX	0.55	0.03	(0.07)	(3.87)	0.71	(0.57)	1.05	(1.22)	3.20
CHASX	1.04	0.17	0.12	0.27	1.04	(1.17)	1.99	(1.95)	12.57

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