Government Long Correlations

RYCGX Fund

USD 20.82 0.02 0.1%

The current 90-days correlation between Government Long Bond and Georgia Tax Free Bond is 0.62 (i.e., Poor diversification). The correlation of Government Long 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.

Government Long Correlation With Market

Average diversification

The correlation between Government Long Bond and DJI is 0.14 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Government Long Bond 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 Government Long Bond. 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 Government Mutual Fund

0.85	RYBCX	Basic Materials	Pair Corr
0.85	RYBAX	Basic Materials	Pair Corr
0.85	RYBMX	Basic Materials	Pair Corr
0.8	RYBHX	Sp Midcap 400	Pair Corr
0.85	RYBIX	Basic Materials	Pair Corr
0.87	RYBOX	Biotechnology Fund Class	Pair Corr
0.95	RYABX	Government Long Bond	Pair Corr
0.69	RYAEX	Europe 125x Strategy	Pair Corr
0.73	RYAUX	Utilities Fund Class	Pair Corr
0.71	RYATX	Nasdaq 100 Fund	Pair Corr
0.67	RYAVX	Sp Midcap 400	Pair Corr
0.62	RYDHX	Dow Jones Industrial	Pair Corr
0.64	RYDKX	Dow Jones Industrial	Pair Corr
0.87	RYCFX	Biotechnology Fund Class	Pair Corr
0.7	RYCEX	Europe 125x Strategy	Pair Corr
0.92	RYCAX	Consumer Products	Pair Corr

Moving against Government Mutual Fund

0.95	RYAQX	Inverse Government Long	Pair Corr
0.5	RYAFX	Inverse Russell 2000	Pair Corr
0.33	RYAGX	Inverse Mid Cap	Pair Corr
0.5	RYCQX	Inverse Russell 2000	Pair Corr
0.49	RYCWX	Inverse Dow 2x	Pair Corr
0.48	RYCZX	Inverse Dow 2x	Pair Corr

Related Correlations Analysis

	TBGAX	TIMTX	FMFXX	TTRBX	MDMTX	TFBIX	ANBIX
TBGAX		0.98	0.0	0.73	0.97	1.0	0.47	TBGAX
TIMTX	0.98		0.0	0.83	0.99	0.99	0.59	TIMTX
FMFXX	0.0	0.0		0.0	0.0	0.0	0.0	FMFXX
TTRBX	0.73	0.83	0.0		0.83	0.76	0.78	TTRBX
MDMTX	0.97	0.99	0.0	0.83		0.98	0.58	MDMTX
TFBIX	1.0	0.99	0.0	0.76	0.98		0.49	TFBIX
ANBIX	0.47	0.59	0.0	0.78	0.58	0.49		ANBIX
	TBGAX	TIMTX	FMFXX	TTRBX	MDMTX	TFBIX	ANBIX

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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

TFBIX	+ 1.0	TBGAX
MDMTX	+ 0.99	TIMTX
TFBIX	+ 0.99	TIMTX
TIMTX	+ 0.98	TBGAX
TFBIX	+ 0.98	MDMTX
MDMTX	+ 0.97	TBGAX

High negative correlations

ANBIX	- 0.0	FMFXX
TFBIX	- 0.0	FMFXX
MDMTX	- 0.0	FMFXX
TTRBX	- 0.0	FMFXX
FMFXX	- 0.0	TIMTX
FMFXX	- 0.0	TBGAX

Risk-Adjusted Indicators

There is a big difference between Government Mutual Fund performing well and Government Long 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 Government Long'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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
TBGAX	0.22	(0.02)	(0.38)	0.46	(0.55)	1.75
TIMTX	0.20	(0.02)	(0.48)	0.38	(0.47)	1.50
FMFXX	0.00	0.00	0.00	0.00	0.00	0.00
TTRBX	0.16	(0.02)	(0.46)	0.41	(0.30)	1.01
MDMTX	0.21	(0.02)	(0.27)	0.48	(0.57)	1.72
TFBIX	0.20	(0.02)	(0.42)	0.40	(0.50)	1.59
ANBIX	0.14	(0.02)	(3.86)	0.29	(0.29)	0.78

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