Energy Fund Correlations

Mutual Funds . USA . 
Fund . Energy Fund Investor
RYEIX Fund  USD 253.46  5.58  2.15%   
The current 90-days correlation between Energy Fund Investor and Vanguard Energy Index is 0.97 (i.e., Almost no diversification). The correlation of Energy 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.

Energy Fund Correlation With Market

Average diversification

The correlation between Energy Fund Investor and DJI is 0.19 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Energy Fund Investor 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 Energy Fund Investor. 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 gross domestic product.

Moving together with Energy Mutual Fund

  0.71RYBKX Banking Fund ClassPairCorr
  0.68RYAHX Mid Cap 15xPairCorr
  0.69RYAVX Sp Midcap 400PairCorr
  0.68RYDCX Mid Cap 15xPairCorr
  1.0RYECX Energy Fund ClassPairCorr
  0.65RYFIX Financial ServicesPairCorr

Moving against Energy Mutual Fund

  0.34RYARX Inverse Sp 500PairCorr
  0.57RYCQX Inverse Russell 2000PairCorr
  0.56RYCWX Inverse Dow 2xPairCorr
  0.56RYCZX Inverse Dow 2xPairCorr
  0.44RYCLX Inverse Mid CapPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Energy Mutual Fund performing well and Energy 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 Energy 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.

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