Telecommunications Correlations

RYMAX Fund

USD 69.42 1.33 1.95%

The current 90-days correlation between Telecommunications and Inverse Nasdaq 100 Strategy is -0.08 (i.e., Good diversification). The correlation of Telecommunications 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.

Telecommunications Correlation With Market

Poor diversification

The correlation between Telecommunications Fund Class and DJI is 0.76 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Telecommunications 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 Telecommunications 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 nation.

Moving together with Telecommunications Mutual Fund

0.86	RYBCX	Basic Materials	Pair Corr
0.87	RYBAX	Basic Materials	Pair Corr
0.73	RYBKX	Banking Fund Class	Pair Corr
0.87	RYBMX	Basic Materials	Pair Corr
0.87	RYBHX	Sp Midcap 400	Pair Corr
0.88	RYBIX	Basic Materials	Pair Corr
0.68	RYBOX	Biotechnology Fund Class	Pair Corr
0.72	RYAKX	Russell 2000 15x	Pair Corr
0.93	RYAEX	Europe 125x Strategy	Pair Corr
0.91	RYAHX	Mid Cap 15x	Pair Corr
0.74	RYAUX	Utilities Fund Class	Pair Corr
0.84	RYAZX	Sp Smallcap 600	Pair Corr
0.8	RYAWX	Sp 500 Pure	Pair Corr
0.85	RYAVX	Sp Midcap 400	Pair Corr
0.79	RYDHX	Dow Jones Industrial	Pair Corr
0.92	RYDCX	Mid Cap 15x	Pair Corr
0.78	RYDKX	Dow Jones Industrial	Pair Corr
0.95	RYEAX	Energy Fund Class	Pair Corr
0.94	RYECX	Energy Fund Class	Pair Corr
0.64	RYCFX	Biotechnology Fund Class	Pair Corr
0.92	RYCEX	Europe 125x Strategy	Pair Corr
0.81	RYCAX	Consumer Products	Pair Corr
0.83	RYCNX	Transportation Fund Class	Pair Corr
0.74	RYCMX	Russell 2000 15x	Pair Corr

Moving against Telecommunications Mutual Fund

0.9	RYAGX	Inverse Mid Cap	Pair Corr
0.74	RYAFX	Inverse Russell 2000	Pair Corr
0.89	RYCLX	Inverse Mid Cap	Pair Corr
0.73	RYCWX	Inverse Dow 2x	Pair Corr
0.57	RYCQX	Inverse Russell 2000	Pair Corr

Related Correlations Analysis

	RYBCX	RYBAX	RYBKX	RYBMX	RYBHX	RYBIX	RYBOX	RYABX	RYACX	RYAIX
RYBCX		1.0	0.81	0.98	0.92	1.0	0.91	0.04	0.37	0.32	RYBCX
RYBAX	1.0		0.81	0.99	0.93	1.0	0.89	0.06	0.38	0.32	RYBAX
RYBKX	0.81	0.81		0.8	0.67	0.8	0.78	-0.27	0.33	0.18	RYBKX
RYBMX	0.98	0.99	0.8		0.91	0.99	0.9	0.07	0.38	0.29	RYBMX
RYBHX	0.92	0.93	0.67	0.91		0.94	0.74	0.26	0.31	0.32	RYBHX
RYBIX	1.0	1.0	0.8	0.99	0.94		0.88	0.08	0.38	0.33	RYBIX
RYBOX	0.91	0.89	0.78	0.9	0.74	0.88		-0.12	0.25	0.19	RYBOX
RYABX	0.04	0.06	-0.27	0.07	0.26	0.08	-0.12		0.33	0.42	RYABX
RYACX	0.37	0.38	0.33	0.38	0.31	0.38	0.25	0.33		0.8	RYACX
RYAIX	0.32	0.32	0.18	0.29	0.32	0.33	0.19	0.42	0.8		RYAIX
	RYBCX	RYBAX	RYBKX	RYBMX	RYBHX	RYBIX	RYBOX	RYABX	RYACX	RYAIX

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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

RYBAX	+ 1.0	RYBCX
RYBIX	+ 1.0	RYBCX
RYBIX	+ 1.0	RYBAX
RYBMX	+ 0.99	RYBAX
RYBIX	+ 0.99	RYBMX
RYBMX	+ 0.98	RYBCX

High negative correlations

RYABX	- 0.27	RYBKX
RYABX	- 0.12	RYBOX

Risk-Adjusted Indicators

There is a big difference between Telecommunications Mutual Fund performing well and Telecommunications 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 Telecommunications' 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
RYBCX	1.32	0.58	0.27	0.73	1.40	(1.57)	2.60	(2.14)	18.07
RYBAX	1.28	0.54	0.25	0.65	1.44	(1.51)	2.61	(2.13)	15.43
RYBKX	0.94	0.00	0.03	0.00	1.34	(0.91)	2.11	(2.10)	7.01
RYBMX	1.28	0.66	0.27	(1.40)	1.44	(1.51)	2.60	(2.14)	14.95
RYBHX	0.82	0.15	0.15	0.23	0.61	(1.01)	1.90	(1.33)	5.29
RYBIX	1.26	0.51	0.24	0.61	1.45	(1.48)	2.61	(2.13)	13.81
RYBOX	1.15	0.37	0.26	(1.13)	0.65	(1.39)	2.57	(1.48)	19.38
RYABX	0.46	0.00	(0.09)	0.09	0.55	(0.49)	0.92	(0.82)	2.28
RYACX	0.67	0.05	(0.09)	0.00	0.75	(0.80)	1.94	(1.34)	4.23
RYAIX	0.72	(0.04)	0.00	(1.04)	0.00	0.00	1.95	(1.38)	4.22

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