Electronics Fund Correlations

RYELX Fund

USD 525.34 0.00 0.00%

The current 90-days correlation between Electronics Fund Class and T Rowe Price is -0.09 (i.e., Good diversification). The correlation of Electronics 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.

Electronics Fund Correlation With Market

Significant diversification

The correlation between Electronics Fund Class and DJI is 0.02 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Electronics 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 Electronics 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 board of governors.

Moving together with Electronics Mutual Fund

0.64	RYAEX	Europe 125x Strategy	Pair Corr
0.71	RYATX	Nasdaq 100 Fund	Pair Corr
0.84	RYANX	Nova Fund Class	Pair Corr
0.67	RYCHX	Technology Fund Class	Pair Corr
0.63	RYCCX	Nasdaq 100 2x	Pair Corr

Moving against Electronics Mutual Fund

0.58	RYALX	Inverse Nasdaq 100	Pair Corr
0.54	RYACX	Inverse Nasdaq 100	Pair Corr
0.58	RYAPX	Inverse Nasdaq 100	Pair Corr
0.39	RYARX	Inverse Sp 500	Pair Corr
0.37	RYCDX	Rydex Inverse Nasdaq	Pair Corr
0.37	RYCWX	Inverse Dow 2x	Pair Corr
0.36	RYCBX	Inverse Sp 500	Pair Corr

Related Correlations Analysis

	PAFDX	TRLUX	MTCGX	NEAMX	MXHAX	RETSX
PAFDX		0.95	0.64	0.75	0.83	0.81	PAFDX
TRLUX	0.95		0.63	0.79	0.92	0.79	TRLUX
MTCGX	0.64	0.63		0.67	0.53	0.94	MTCGX
NEAMX	0.75	0.79	0.67		0.88	0.81	NEAMX
MXHAX	0.83	0.92	0.53	0.88		0.7	MXHAX
RETSX	0.81	0.79	0.94	0.81	0.7		RETSX
	PAFDX	TRLUX	MTCGX	NEAMX	MXHAX	RETSX

Risk-Adjusted Indicators

There is a big difference between Electronics Mutual Fund performing well and Electronics 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 Electronics 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
PAFDX	0.53	(0.01)	(0.03)	0.06	0.62	(0.57)	1.05	(1.12)	3.07
TRLUX	0.52	0.02	0.01	0.09	0.55	(0.57)	0.96	(1.04)	3.00
MTCGX	0.75	(0.03)	(0.02)	0.05	1.17	(0.66)	1.72	(1.86)	4.26
NEAMX	0.52	0.05	(0.02)	0.36	0.68	(0.53)	1.06	(1.22)	3.21
MXHAX	0.52	0.07	0.02	0.46	0.55	(0.57)	1.01	(1.04)	2.98
RETSX	0.56	(0.02)	(0.02)	0.05	0.92	(0.50)	1.14	(1.45)	3.26

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