Energy Services Correlations

RYVIX Fund

USD 249.91 3.38 1.37%

The current 90-days correlation between Energy Services and Vanguard Energy Index is 0.91 (i.e., Almost no diversification). The correlation of Energy Services 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.

Energy Services Correlation With Market

Very weak diversification

The correlation between Energy Services Fund and DJI is 0.59 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Energy Services 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 Energy Services 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 gross domestic product.

For more information on how to buy Energy Mutual Fund please use our How to Invest in Energy Services guide.

Moving together with Energy Mutual Fund

0.85	RYEAX	Energy Fund Class	Pair Corr
0.75	RYECX	Energy Fund Class	Pair Corr

Moving against Energy Mutual Fund

0.5	RYAFX	Inverse Russell 2000	Pair Corr
0.49	RYAGX	Inverse Mid Cap	Pair Corr
0.33	RYAIX	Inverse Nasdaq 100	Pair Corr
0.31	RYACX	Inverse Nasdaq 100	Pair Corr
0.31	RYALX	Inverse Nasdaq 100	Pair Corr
0.31	RYAPX	Inverse Nasdaq 100	Pair Corr
0.49	RYCQX	Inverse Russell 2000	Pair Corr
0.48	RYCLX	Inverse Mid Cap	Pair Corr
0.34	RYCZX	Inverse Dow 2x	Pair Corr

Related Correlations Analysis

	VENAX	FSENX	FNRCX	FANAX	FAGNX	FANIX	FNARX
VENAX		0.82	0.81	0.82	0.91	0.92	0.57	VENAX
FSENX	0.82		1.0	1.0	0.9	0.9	0.85	FSENX
FNRCX	0.81	1.0		1.0	0.9	0.9	0.85	FNRCX
FANAX	0.82	1.0	1.0		0.9	0.9	0.85	FANAX
FAGNX	0.91	0.9	0.9	0.9		1.0	0.76	FAGNX
FANIX	0.92	0.9	0.9	0.9	1.0		0.75	FANIX
FNARX	0.57	0.85	0.85	0.85	0.76	0.75		FNARX
	VENAX	FSENX	FNRCX	FANAX	FAGNX	FANIX	FNARX

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Risk-Adjusted Indicators

There is a big difference between Energy Mutual Fund performing well and Energy Services 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 Energy Services' 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
VENAX	0.94	0.07	0.04	0.18	1.15	(0.93)	1.82	(2.09)	5.16
FSENX	0.94	0.06	(0.02)	2.29	1.26	(0.89)	2.07	(2.13)	5.82
FNRCX	0.94	0.06	(0.03)	2.20	1.29	(0.91)	2.04	(2.12)	5.83
FANAX	0.94	0.06	(0.02)	2.47	1.29	(0.89)	2.06	(2.13)	5.83
FAGNX	0.96	0.00	(0.01)	0.11	1.28	(0.92)	2.05	(2.12)	5.82
FANIX	0.96	0.01	(0.01)	0.11	1.28	(0.92)	2.07	(2.13)	5.83
FNARX	0.87	0.00	(0.07)	0.03	1.31	(0.78)	1.75	(1.60)	5.80

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