Russell 2000 Correlations

Mutual Funds . USA . 
Fund . Russell 2000 15x
RYCMX Fund  USD 35.76  0.62  1.76%   
The current 90-days correlation between Russell 2000 15x and Calvert Short Duration is 0.2 (i.e., Modest diversification). The correlation of Russell 2000 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.

Russell 2000 Correlation With Market

RussellDowDiversified AwayRussellDowDiversified Away100%

Poor diversification

The correlation between Russell 2000 15x and DJI is 0.68 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Russell 2000 15x 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 Russell 2000 15x. 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 population.

Moving together with Russell Mutual Fund

  0.78RYBKX Banking Fund ClassPairCorr
  0.88RYBHX Sp Midcap 400PairCorr
  1.0RYAKX Russell 2000 15xPairCorr
  0.98RYAHX Mid Cap 15xPairCorr
  0.92RYATX Nasdaq 100 FundPairCorr
  0.89RYANX Nova Fund ClassPairCorr
  0.97RYAZX Sp Smallcap 600PairCorr
  0.85RYAWX Sp 500 PurePairCorr
  0.91RYAVX Sp Midcap 400PairCorr
  0.75RYDHX Dow Jones IndustrialPairCorr
  0.98RYDCX Mid Cap 15xPairCorr
  0.77RYDKX Dow Jones IndustrialPairCorr
  0.66RYEAX Energy Fund ClassPairCorr
  0.67RYECX Energy Fund ClassPairCorr
  0.93RYCHX Technology Fund ClassPairCorr
  0.94RYCCX Nasdaq 100 2xPairCorr
  0.95RYCNX Transportation Fund ClassPairCorr

Moving against Russell Mutual Fund

  0.99RYAFX Inverse Russell 2000PairCorr
  0.89RYACX Inverse Nasdaq 100PairCorr
  0.73RYAIX Inverse Nasdaq 100PairCorr
  0.72RYALX Inverse Nasdaq 100PairCorr
  0.72RYAPX Inverse Nasdaq 100PairCorr
  0.67RYARX Inverse Sp 500PairCorr
  0.54RYAEX Europe 125x StrategyPairCorr
  0.54RYCEX Europe 125x StrategyPairCorr
  0.52RYAGX Inverse Mid CapPairCorr
  0.34RYABX Government Long BondPairCorr
  0.99RYCQX Inverse Russell 2000PairCorr
  0.76RYCBX Inverse Sp 500 Potential GrowthPairCorr
  0.76RYCDX Rydex Inverse NasdaqPairCorr
  0.76RYCZX Inverse Dow 2xPairCorr
  0.72RYCWX Inverse Dow 2xPairCorr
  0.54RYEUX Europe 125x StrategyPairCorr
  0.44RYCLX Inverse Mid CapPairCorr
  0.33RYGBX Government Long BondPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Russell Mutual Fund performing well and Russell 2000 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 Russell 2000'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.

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