Sp 500 Correlations

Mutual Funds . USA . 
Fund . Sp 500 2x
RYCTX Fund  USD 287.23  1.80  0.63%   
The current 90-days correlation between Sp 500 2x and Direxion Monthly Nasdaq 100 is 0.95 (i.e., Almost no diversification). The correlation of Sp 500 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.

Sp 500 Correlation With Market

Very poor diversification

The correlation between Sp 500 2x and DJI is 0.84 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sp 500 2x 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 Sp 500 2x. 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 estimate.

Moving together with RYCTX Mutual Fund

  0.63RYBCX Basic MaterialsPairCorr
  0.64RYBAX Basic MaterialsPairCorr
  0.71RYBKX Banking Fund ClassPairCorr
  0.64RYBMX Basic MaterialsPairCorr
  0.74RYBHX Sp Midcap 400PairCorr
  0.64RYBIX Basic MaterialsPairCorr
  0.73RYAKX Russell 2000 15xPairCorr
  0.77RYAHX Mid Cap 15xPairCorr
  0.84RYAQX Inverse Government LongPairCorr
  0.64RYAUX Utilities Fund ClassPairCorr
  0.86RYATX Nasdaq 100 FundPairCorr
  0.86RYANX Nova Fund ClassPairCorr
  0.84RYAZX Sp Smallcap 600PairCorr
  0.84RYAWX Sp 500 PurePairCorr
  0.77RYAVX Sp Midcap 400PairCorr
  0.97RYDHX Dow Jones IndustrialPairCorr
  0.77RYDCX Mid Cap 15xPairCorr
  0.97RYDKX Dow Jones IndustrialPairCorr
  0.64RYEAX Energy Fund ClassPairCorr
  0.98RYCHX Technology Fund ClassPairCorr
  0.98RYCCX Nasdaq 100 2xPairCorr
  0.91RYCNX Transportation Fund ClassPairCorr
  0.9RYCMX Russell 2000 15xPairCorr

Moving against RYCTX Mutual Fund

  0.98RYAIX Inverse Nasdaq 100PairCorr
  0.86RYACX Inverse Nasdaq 100PairCorr
  0.86RYALX Inverse Nasdaq 100PairCorr
  0.86RYARX Inverse Sp 500PairCorr
  0.85RYAPX Inverse Nasdaq 100PairCorr
  0.78RYAGX Inverse Mid CapPairCorr
  0.76RYABX Government Long BondPairCorr
  0.73RYAFX Inverse Russell 2000PairCorr
  0.68RYAEX Europe 125x StrategyPairCorr
  0.4RYBOX Biotechnology Fund ClassPairCorr
  1.0RYCBX Inverse Sp 500PairCorr
  0.86RYCDX Rydex Inverse NasdaqPairCorr
  0.83RYCGX Government Long BondPairCorr
  0.81RYCWX Inverse Dow 2xPairCorr
  0.78RYCLX Inverse Mid CapPairCorr
  0.74RYCQX Inverse Russell 2000PairCorr
  0.68RYCEX Europe 125x StrategyPairCorr
  0.59RYCPX Consumer ProductsPairCorr
  0.57RYCAX Consumer ProductsPairCorr
  0.56RYCIX Consumer ProductsPairCorr
  0.41RYCFX Biotechnology Fund ClassPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between RYCTX Mutual Fund performing well and Sp 500 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 Sp 500'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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