Health Care Correlations

RYHEX Fund

USD 38.66 0.44 1.15%

The current 90-days correlation between Health Care Fund and Guggenheim High Yield is 0.26 (i.e., Modest diversification). 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

Weak diversification

The correlation between Health Care Fund and DJI is 0.35 (i.e., Weak 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.

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Health Care 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 income.

Moving together with Health Mutual Fund

1.0	RYHCX	Health Care Fund	Pair Corr
0.67	VGHAX	Vanguard Health Care	Pair Corr
0.67	VGHCX	Vanguard Health Care	Pair Corr
0.73	PRHSX	T Rowe Price	Pair Corr
0.73	THISX	T Rowe Price	Pair Corr
0.98	VHCIX	Vanguard Health Care	Pair Corr
0.87	SHISX	Blackrock Health Sciences	Pair Corr
0.8	SHSCX	Blackrock Health Sciences	Pair Corr
0.87	SHSAX	Blackrock Health Sciences	Pair Corr
0.88	SHSSX	Blackrock Health Sciences	Pair Corr
0.68	FSPHX	Health Care Portfolio	Pair Corr
0.74	BTMPX	Ishares Msci Eafe	Pair Corr
0.79	BTMKX	Blackrock International	Pair Corr
0.8	MDIIX	Blackrock Intern Index	Pair Corr
0.66	ARTNX	Artisan Select Equity	Pair Corr

Moving against Health Mutual Fund

0.64	RYWWX	Inverse Emerging Markets Downward Rally	Pair Corr
0.58	RYIHX	Inverse High Yield	Pair Corr
0.49	RYAQX	Inverse Government Long	Pair Corr
0.57	COGVX	Cognios Large Cap	Pair Corr
0.34	LFRIX	Floating Rate	Pair Corr

Related Correlations Analysis

	SHYIX	SGYAX	BUFHX	IPIMX	FHTIX	JDHYX	MRHYX	SEIYX
SHYIX		0.95	0.88	0.99	0.96	0.96	0.96	0.91	SHYIX
SGYAX	0.95		0.89	0.93	0.88	0.91	0.9	0.93	SGYAX
BUFHX	0.88	0.89		0.83	0.8	0.81	0.89	0.86	BUFHX
IPIMX	0.99	0.93	0.83		0.98	0.98	0.95	0.9	IPIMX
FHTIX	0.96	0.88	0.8	0.98		0.97	0.95	0.87	FHTIX
JDHYX	0.96	0.91	0.81	0.98	0.97		0.94	0.89	JDHYX
MRHYX	0.96	0.9	0.89	0.95	0.95	0.94		0.9	MRHYX
SEIYX	0.91	0.93	0.86	0.9	0.87	0.89	0.9		SEIYX
	SHYIX	SGYAX	BUFHX	IPIMX	FHTIX	JDHYX	MRHYX	SEIYX

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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	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
SHYIX	0.13	0.02	(0.34)	0.58	(0.23)	0.50	(0.25)	1.11
SGYAX	0.15	0.02	(0.33)	0.75	(0.26)	0.56	(0.28)	1.27
BUFHX	0.08	0.03	(0.40)	1.53	(0.13)	0.19	(0.09)	0.66
IPIMX	0.14	0.02	(0.30)	1.07	(0.19)	0.35	(0.23)	1.15
FHTIX	0.16	0.02	(0.23)	0.46	(0.27)	0.47	(0.31)	1.10
JDHYX	0.15	0.01	(0.26)	0.38	(0.22)	0.27	(0.41)	1.37
MRHYX	0.11	0.02	(0.34)	0.71	(0.16)	0.24	(0.23)	0.59
SEIYX	0.16	0.02	(0.26)	(3.66)	(0.28)	0.39	(0.20)	1.17

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