Financial Services Correlations

RYFIX Fund

USD 103.29 0.49 0.48%

The current 90-days correlation between Financial Services and Government Long Bond is 0.1 (i.e., Average diversification). The correlation of Financial Services 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.

Financial Services Correlation With Market

Poor diversification

The correlation between Financial Services Fund and DJI is 0.77 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Financial Services Fund 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 Financial Services Fund. 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 FINANCIAL Mutual Fund

0.76	RYBKX	Banking Fund Class	Pair Corr
0.69	RYBOX	Biotechnology Fund Class	Pair Corr
0.7	RYAKX	Russell 2000 15x	Pair Corr
0.65	RYAQX	Inverse Government Long	Pair Corr
0.84	RYATX	Nasdaq 100 Fund	Pair Corr
0.82	RYANX	Nova Fund Class	Pair Corr
0.73	RYAWX	Sp 500 Pure	Pair Corr
0.78	RYDHX	Dow Jones Industrial	Pair Corr
0.65	RYDCX	Mid Cap 15x	Pair Corr
0.79	RYDKX	Dow Jones Industrial	Pair Corr
0.69	RYCFX	Biotechnology Fund Class	Pair Corr
0.76	RYCHX	Technology Fund Class	Pair Corr
0.78	RYCNX	Transportation Fund Class	Pair Corr
0.7	RYCMX	Russell 2000 15x	Pair Corr

Moving against FINANCIAL Mutual Fund

0.8	RYARX	Inverse Sp 500	Pair Corr
0.72	RYAFX	Inverse Russell 2000	Pair Corr
0.66	RYABX	Government Long Bond	Pair Corr
0.62	RYAGX	Inverse Mid Cap	Pair Corr
0.59	RYACX	Inverse Nasdaq 100	Pair Corr
0.56	RYAIX	Inverse Nasdaq 100	Pair Corr
0.56	RYALX	Inverse Nasdaq 100	Pair Corr
0.56	RYAPX	Inverse Nasdaq 100	Pair Corr
0.54	RYAUX	Utilities Fund Class	Pair Corr
0.81	RYCBX	Inverse Sp 500	Pair Corr
0.79	RYCWX	Inverse Dow 2x	Pair Corr
0.79	RYCZX	Inverse Dow 2x	Pair Corr
0.73	RYCQX	Inverse Russell 2000	Pair Corr
0.62	RYCGX	Government Long Bond	Pair Corr
0.62	RYCDX	Rydex Inverse Nasdaq	Pair Corr
0.62	RYCLX	Inverse Mid Cap	Pair Corr
0.61	RYGBX	Government Long Bond	Pair Corr

Related Correlations Analysis

	RYLCX	RYLIX	FOVAX	RYMIX	WESRX	RYEIX	RYMSX	EMQIX	EMQAX	RYHBX
RYLCX		0.91	0.66	0.26	0.51	-0.11	0.38	0.24	0.24	-0.57	RYLCX
RYLIX	0.91		0.74	0.36	0.5	-0.01	0.49	0.24	0.24	-0.56	RYLIX
FOVAX	0.66	0.74		0.71	0.72	0.53	0.76	0.5	0.5	-0.39	FOVAX
RYMIX	0.26	0.36	0.71		0.55	0.88	0.95	0.72	0.72	-0.39	RYMIX
WESRX	0.51	0.5	0.72	0.55		0.51	0.6	0.74	0.75	-0.25	WESRX
RYEIX	-0.11	-0.01	0.53	0.88	0.51		0.8	0.73	0.73	-0.18	RYEIX
RYMSX	0.38	0.49	0.76	0.95	0.6	0.8		0.72	0.72	-0.43	RYMSX
EMQIX	0.24	0.24	0.5	0.72	0.74	0.73	0.72		1.0	-0.23	EMQIX
EMQAX	0.24	0.24	0.5	0.72	0.75	0.73	0.72	1.0		-0.23	EMQAX
RYHBX	-0.57	-0.56	-0.39	-0.39	-0.25	-0.18	-0.43	-0.23	-0.23		RYHBX
	RYLCX	RYLIX	FOVAX	RYMIX	WESRX	RYEIX	RYMSX	EMQIX	EMQAX	RYHBX

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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

EMQAX	+ 1.0	EMQIX
RYMSX	+ 0.95	RYMIX
RYLIX	+ 0.91	RYLCX
RYEIX	+ 0.88	RYMIX
RYMSX	+ 0.8	RYEIX
RYMSX	+ 0.76	FOVAX

High negative correlations

RYHBX	- 0.57	RYLCX
RYHBX	- 0.56	RYLIX
RYHBX	- 0.43	RYMSX
RYHBX	- 0.39	RYMIX
RYHBX	- 0.39	FOVAX
RYHBX	- 0.25	WESRX

Risk-Adjusted Indicators

There is a big difference between FINANCIAL Mutual Fund performing well and Financial Services 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 Financial Services' 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
RYLCX	0.62	0.01	(0.06)	(0.06)	0.83	(0.65)	1.20	(1.44)	4.54
RYLIX	0.65	(0.07)	0.00	(0.02)	0.00	0.00	1.20	(1.45)	4.55
FOVAX	0.88	0.02	0.03	0.08	0.77	(1.09)	2.55	(1.55)	5.17
RYMIX	0.85	0.18	0.15	0.27	0.84	(0.96)	1.83	(1.62)	4.93
WESRX	1.04	0.18	0.10	0.96	0.99	(1.21)	2.28	(1.86)	9.42
RYEIX	1.08	0.21	0.15	0.45	1.05	(1.24)	2.69	(1.90)	5.17
RYMSX	0.26	0.03	(0.05)	0.17	0.15	(0.29)	0.53	(0.39)	1.11
EMQIX	0.69	0.22	0.17	30.35	0.46	(0.79)	1.70	(1.11)	4.76
EMQAX	0.69	0.22	0.17	30.29	0.47	(0.77)	1.72	(1.12)	4.81
RYHBX	0.48	0.00	(0.09)	0.04	0.58	(0.51)	0.93	(0.98)	2.27

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