Russell 2000 Correlations

Mutual Funds . USA . 
Fund . Russell 2000 Fund
RYRHX Fund  USD 58.46  1.04  1.81%   
The current 90-days correlation between Russell 2000 and Sp 500 Fund is 0.79 (i.e., Poor diversification). The correlation of Russell 2000 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.

Russell 2000 Correlation With Market

Very poor diversification

The correlation between Russell 2000 Fund and DJI is 0.88 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Russell 2000 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 Russell 2000 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 rate.

Moving together with Russell Mutual Fund

  0.92RYBKX Banking Fund ClassPairCorr
  0.94RYBHX Sp Midcap 400PairCorr
  1.0RYAKX Russell 2000 15xPairCorr
  0.98RYAHX Mid Cap 15xPairCorr
  0.74RYAQX Inverse Government LongPairCorr
  0.89RYATX Nasdaq 100 FundPairCorr
  0.91RYANX Nova Fund ClassPairCorr
  0.97RYAZX Sp Smallcap 600PairCorr
  0.87RYAWX Sp 500 PurePairCorr
  0.98RYAVX Sp Midcap 400PairCorr
  0.92RYDHX Dow Jones IndustrialPairCorr
  0.98RYDCX Mid Cap 15xPairCorr
  0.92RYDKX Dow Jones IndustrialPairCorr
  0.69RYEAX Energy Fund ClassPairCorr
  0.68RYECX Energy Fund ClassPairCorr
  0.89RYCHX Technology Fund ClassPairCorr
  0.89RYCCX Nasdaq 100 2xPairCorr
  0.92RYCNX Transportation Fund ClassPairCorr
  1.0RYCMX Russell 2000 15xPairCorr

Moving against Russell Mutual Fund

  1.0RYAFX Inverse Russell 2000PairCorr
  0.98RYAGX Inverse Mid CapPairCorr
  0.9RYARX Inverse Sp 500PairCorr
  0.88RYACX Inverse Nasdaq 100PairCorr
  0.88RYAIX Inverse Nasdaq 100PairCorr
  0.88RYALX Inverse Nasdaq 100PairCorr
  0.73RYABX Government Long BondPairCorr
  0.7RYAEX Europe 125x StrategyPairCorr
  0.88RYAPX Inverse Nasdaq 100PairCorr
  0.73RYCGX Government Long BondPairCorr
  0.7RYCEX Europe 125x StrategyPairCorr
  1.0RYCQX Inverse Russell 2000PairCorr
  0.98RYCLX Inverse Mid CapPairCorr
  0.92RYCWX Inverse Dow 2xPairCorr
  0.9RYCBX Inverse Sp 500PairCorr
  0.88RYCDX Rydex Inverse NasdaqPairCorr
  0.53RYCPX Consumer ProductsPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Russell Mutual Fund performing well and Russell 2000 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 Russell 2000'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.

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