Biotechnology Fund Correlations

RYOAX Fund

USD 59.13 0.53 0.89%

The correlation of Biotechnology Fund 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.

Biotechnology Fund Correlation With Market

Poor diversification

The correlation between Biotechnology Fund Class and DJI is 0.79 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Biotechnology 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 Biotechnology 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 Biotechnology Mutual Fund

0.81	RYBOX	Biotechnology Fund Class	Pair Corr
0.66	RYAHX	Mid Cap 15x	Pair Corr
0.8	RYAQX	Inverse Government Long	Pair Corr
0.74	RYAWX	Sp 500 Pure	Pair Corr
1.0	RYCFX	Biotechnology Fund Class	Pair Corr
0.76	RYCCX	Nasdaq 100 2x	Pair Corr
0.76	RYCVX	Dow 2x Strategy	Pair Corr
0.7	RYHHX	High Yield Strategy	Pair Corr
0.93	RYHCX	Health Care Fund Potential Growth	Pair Corr
0.72	RYKIX	Banking Fund Investor	Pair Corr
0.74	RYMPX	Precious Metals	Pair Corr
0.76	RYLIX	Leisure Fund Investor	Pair Corr
0.8	RYLDX	Dow 2x Strategy	Pair Corr
0.75	RYLCX	Leisure Fund Class	Pair Corr
0.82	RYOIX	Biotechnology Fund	Pair Corr
0.74	RYPMX	Precious Metals	Pair Corr
0.74	RYSVX	Sp Smallcap 600	Pair Corr
0.63	RYRCX	Retailing Fund Class	Pair Corr
0.63	RYRLX	Russell 2000 2x	Pair Corr
0.63	RYRSX	Russell 2000 2x	Pair Corr
0.65	RYVCX	Energy Services	Pair Corr

Moving against Biotechnology Mutual Fund

0.61	RYAGX	Inverse Mid Cap	Pair Corr
0.59	RYAFX	Inverse Russell 2000	Pair Corr
0.54	RYIHX	Inverse High Yield	Pair Corr
0.51	RYCBX	Inverse Sp 500	Pair Corr
0.43	RYARX	Inverse Sp 500	Pair Corr

Related Correlations Analysis

	RPFFX	SIGWX	GSQTX	USCAX	PRSVX	INDZX	HIIDX	DIFIX
RPFFX		0.97	0.84	0.98	1.0	0.99	0.93	0.9	RPFFX
SIGWX	0.97		0.83	0.98	0.98	0.98	0.88	0.9	SIGWX
GSQTX	0.84	0.83		0.85	0.84	0.82	0.78	0.7	GSQTX
USCAX	0.98	0.98	0.85		0.99	0.98	0.91	0.89	USCAX
PRSVX	1.0	0.98	0.84	0.99		0.99	0.91	0.89	PRSVX
INDZX	0.99	0.98	0.82	0.98	0.99		0.93	0.9	INDZX
HIIDX	0.93	0.88	0.78	0.91	0.91	0.93		0.93	HIIDX
DIFIX	0.9	0.9	0.7	0.89	0.89	0.9	0.93		DIFIX
	RPFFX	SIGWX	GSQTX	USCAX	PRSVX	INDZX	HIIDX	DIFIX

Risk-Adjusted Indicators

There is a big difference between Biotechnology Mutual Fund performing well and Biotechnology Fund 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 Biotechnology Fund'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
RPFFX	1.09	0.29	0.33	0.20	0.49	(1.39)	2.53	(1.47)	16.04
SIGWX	0.77	0.07	0.09	0.10	0.69	(0.97)	1.91	(1.32)	6.82
GSQTX	1.41	0.61	0.63	0.97	0.00	(1.85)	2.28	(1.45)	31.54
USCAX	0.87	0.14	0.13	0.18	0.79	(1.02)	2.07	(1.87)	7.96
PRSVX	0.96	0.22	0.25	0.18	0.60	(1.17)	2.21	(1.47)	14.38
INDZX	0.65	0.15	0.23	0.18	0.40	(0.80)	1.26	(0.93)	9.06
HIIDX	0.67	0.16	0.20	0.25	0.53	(0.77)	1.35	(1.13)	6.31
DIFIX	0.19	0.02	(0.04)	0.12	0.15	(0.22)	0.40	(0.32)	1.12

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