Health Care Correlations

RYHEX Fund

USD 38.40 0.03 0.08%

The current 90-days correlation between Health Care Fund and Kinetics Small Cap is 0.19 (i.e., Average 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

Poor diversification

The correlation between Health Care Fund and DJI is 0.66 (i.e., Poor 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

0.83	RYBOX	Biotechnology Fund Class Steady Growth	Pair Corr
0.84	RYABX	Government Long Bond Steady Growth	Pair Corr
0.65	RYACX	Inverse Nasdaq 100	Pair Corr
0.61	RYAIX	Inverse Nasdaq 100	Pair Corr
0.65	RYALX	Inverse Nasdaq 100	Pair Corr
0.84	RYAEX	Europe 125x Strategy	Pair Corr
0.63	RYARX	Inverse Sp 500	Pair Corr
0.65	RYAPX	Inverse Nasdaq 100	Pair Corr
0.79	RYCFX	Biotechnology Fund Class Steady Growth	Pair Corr
0.83	RYCEX	Europe 125x Strategy	Pair Corr
0.84	RYCGX	Government Long Bond	Pair Corr
0.62	RYCBX	Inverse Sp 500	Pair Corr
0.74	RYCAX	Consumer Products	Pair Corr
0.64	RYCDX	Rydex Inverse Nasdaq	Pair Corr

Moving against Health Mutual Fund

0.7	RYBKX	Banking Fund Class	Pair Corr
0.56	RYAHX	Mid Cap 15x	Pair Corr
0.51	RYBHX	Sp Midcap 400	Pair Corr
0.51	RYAKX	Russell 2000 15x Steady Growth	Pair Corr
0.31	RYBIX	Basic Materials	Pair Corr
0.85	RYAQX	Inverse Government Long	Pair Corr
0.69	RYAWX	Sp 500 Pure	Pair Corr
0.68	RYATX	Nasdaq 100 Fund	Pair Corr
0.63	RYANX	Nova Fund Class	Pair Corr
0.62	RYAVX	Sp Midcap 400	Pair Corr
0.62	RYDHX	Dow Jones Industrial	Pair Corr
0.62	RYDKX	Dow Jones Industrial	Pair Corr
0.55	RYDCX	Mid Cap 15x	Pair Corr
0.5	RYEAX	Energy Fund Class	Pair Corr
0.47	RYAUX	Utilities Fund Class	Pair Corr
0.47	RYECX	Energy Fund Class	Pair Corr
0.46	RYAZX	Sp Smallcap 600	Pair Corr
0.7	RYCNX	Transportation Fund Class	Pair Corr
0.68	RYCOX	Nasdaq 100 Fund	Pair Corr
0.66	RYCHX	Technology Fund Class	Pair Corr
0.62	RYCCX	Nasdaq 100 2x	Pair Corr
0.6	RYCYX	Dow 2x Strategy Steady Growth	Pair Corr
0.55	RYCVX	Dow 2x Strategy Steady Growth	Pair Corr
0.51	RYCMX	Russell 2000 15x	Pair Corr
0.48	RYCKX	Sp Midcap 400	Pair Corr

Related Correlations Analysis

	KSCYX	GPSCX	RTOUX	APDSX
KSCYX		0.93	0.88	0.88	KSCYX
GPSCX	0.93		0.95	0.85	GPSCX
RTOUX	0.88	0.95		0.89	RTOUX
APDSX	0.88	0.85	0.89		APDSX
	KSCYX	GPSCX	RTOUX	APDSX

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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
KSCYX	1.31	0.50	0.28	0.60	1.17	(1.50)	3.29	(2.03)	13.94
GPSCX	1.08	0.16	0.06	0.50	1.10	(1.21)	2.33	(1.84)	5.55
RTOUX	0.80	0.10	(0.01)	0.83	0.84	(0.88)	1.78	(1.45)	6.26
APDSX	0.95	0.01	0.03	0.14	1.14	(0.96)	2.03	(1.99)	5.77

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