Health Care Correlations
| RYHAX Fund | USD 105.35 0.80 0.75% |
The correlation of Health Care 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.
Health Care Correlation With Market
Good diversification
The correlation between Health Care Fund and DJI is -0.11 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Health Care Fund and DJI in the same portfolio, assuming nothing else is changed.
Health |
Moving together with Health Mutual Fund
| 0.73 | RYBCX | Basic Materials | PairCorr |
| 0.73 | RYBAX | Basic Materials | PairCorr |
| 0.63 | RYBKX | Banking Fund Class | PairCorr |
| 0.73 | RYBMX | Basic Materials | PairCorr |
| 0.73 | RYBIX | Basic Materials | PairCorr |
| 0.85 | RYBOX | Biotechnology Fund Class | PairCorr |
| 0.74 | RYDKX | Dow Jones Industrial | PairCorr |
| 0.84 | RYCFX | Biotechnology Fund Class | PairCorr |
Moving against Health Mutual Fund
| 0.44 | RYAGX | Inverse Mid Cap | PairCorr |
| 0.38 | RYAIX | Inverse Nasdaq 100 Steady Growth | PairCorr |
| 0.38 | RYALX | Inverse Nasdaq 100 Steady Growth | PairCorr |
| 0.32 | RYAFX | Inverse Russell 2000 | PairCorr |
| 0.53 | RYARX | Inverse Sp 500 | PairCorr |
| 0.46 | RYAPX | Inverse Nasdaq 100 Steady Growth | PairCorr |
| 0.64 | RYCWX | Inverse Dow 2x Steady Growth | PairCorr |
| 0.5 | RYCBX | Inverse Sp 500 Steady Growth | PairCorr |
| 0.41 | RYCDX | Rydex Inverse Nasdaq Steady Growth | PairCorr |
| 0.33 | RYCLX | Inverse Mid Cap | PairCorr |
Related Correlations Analysis
| 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | ICAXX | ||
| 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | PFCXX | ||
| 0.0 | 0.0 | 0.83 | 0.0 | 0.67 | GCFSX | ||
| 0.0 | 0.0 | 0.83 | 0.0 | 0.96 | DVFYX | ||
| 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0P000070L2 | ||
| 0.0 | 0.0 | 0.67 | 0.96 | 0.0 | FNPIX | ||
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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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Health Mutual Fund performing well and Health Care 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 Health Care'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| ICAXX | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| PFCXX | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| GCFSX | 0.73 | 0.13 | 0.13 | 0.10 | 0.90 | 1.80 | 4.68 | |||
| DVFYX | 0.81 | 0.10 | 0.08 | 0.04 | 1.13 | 1.65 | 6.47 | |||
| 0P000070L2 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| FNPIX | 1.21 | 0.10 | 0.04 | 0.01 | 1.73 | 2.66 | 9.08 |