Sp Smallcap Correlations

RYWAX Fund

USD 59.71 0.69 1.17%

The current 90-days correlation between Sp Smallcap 600 and SMART Earnings Growth is 0.53 (i.e., Very weak diversification). The correlation of Sp Smallcap 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.

Sp Smallcap Correlation With Market

Poor diversification

The correlation between Sp Smallcap 600 and DJI is 0.77 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sp Smallcap 600 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 Sp Smallcap 600. 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 RYWAX Mutual Fund

0.89	RYBCX	Basic Materials	Pair Corr
0.9	RYBAX	Basic Materials	Pair Corr
0.9	RYBKX	Banking Fund Class	Pair Corr
0.9	RYBMX	Basic Materials	Pair Corr
0.95	RYBHX	Sp Midcap 400	Pair Corr
0.9	RYBIX	Basic Materials	Pair Corr
0.72	RYAKX	Russell 2000 15x	Pair Corr
0.69	RYAEX	Europe 125x Strategy	Pair Corr
0.98	RYAHX	Mid Cap 15x	Pair Corr
0.95	RYAZX	Sp Smallcap 600 Potential Growth	Pair Corr
0.69	RYAWX	Sp 500 Pure	Pair Corr
0.93	RYAVX	Sp Midcap 400	Pair Corr
0.94	RYDHX	Dow Jones Industrial	Pair Corr
0.75	RYDCX	Mid Cap 15x	Pair Corr
0.77	RYDKX	Dow Jones Industrial	Pair Corr
0.64	RYEAX	Energy Fund Class	Pair Corr
0.74	RYCEX	Europe 125x Strategy	Pair Corr
0.69	RYCCX	Nasdaq 100 2x	Pair Corr
0.64	RYCNX	Transportation Fund Class	Pair Corr
0.72	RYCMX	Russell 2000 15x	Pair Corr

Moving against RYWAX Mutual Fund

0.76	RYAGX	Inverse Mid Cap	Pair Corr
0.7	RYAFX	Inverse Russell 2000	Pair Corr
0.55	RYARX	Inverse Sp 500	Pair Corr
0.37	RYABX	Government Long Bond	Pair Corr
0.32	RYACX	Inverse Nasdaq 100	Pair Corr
0.78	RYCWX	Inverse Dow 2x	Pair Corr
0.76	RYCLX	Inverse Mid Cap	Pair Corr
0.71	RYCQX	Inverse Russell 2000	Pair Corr
0.65	RYCBX	Inverse Sp 500	Pair Corr
0.36	RYCDX	Rydex Inverse Nasdaq	Pair Corr

Related Correlations Analysis

	CNPIX	RYAVX	RSVIX	RYVIX	ICPY	DUMSX	WAGCX	WAISX	WTMY	SGRT
CNPIX		0.88	0.17	0.93	0.49	0.55	0.0	0.56	0.93	0.72	CNPIX
RYAVX	0.88		0.44	0.91	0.66	0.65	0.0	0.71	0.84	0.85	RYAVX
RSVIX	0.17	0.44		0.23	0.66	0.39	0.0	0.47	0.13	0.52	RSVIX
RYVIX	0.93	0.91	0.23		0.59	0.64	0.0	0.7	0.95	0.84	RYVIX
ICPY	0.49	0.66	0.66	0.59		0.87	0.0	0.72	0.53	0.69	ICPY
DUMSX	0.55	0.65	0.39	0.64	0.87		0.0	0.67	0.66	0.59	DUMSX
WAGCX	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	WAGCX
WAISX	0.56	0.71	0.47	0.7	0.72	0.67	0.0		0.66	0.8	WAISX
WTMY	0.93	0.84	0.13	0.95	0.53	0.66	0.0	0.66		0.75	WTMY
SGRT	0.72	0.85	0.52	0.84	0.69	0.59	0.0	0.8	0.75		SGRT
	CNPIX	RYAVX	RSVIX	RYVIX	ICPY	DUMSX	WAGCX	WAISX	WTMY	SGRT

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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

WTMY	+ 0.95	RYVIX
RYVIX	+ 0.93	CNPIX
WTMY	+ 0.93	CNPIX
RYVIX	+ 0.91	RYAVX
RYAVX	+ 0.88	CNPIX
DUMSX	+ 0.87	ICPY

High negative correlations

SGRT	- 0.0	WAGCX
WTMY	- 0.0	WAGCX
WAISX	- 0.0	WAGCX
WAGCX	- 0.0	DUMSX
WAGCX	- 0.0	ICPY
WAGCX	- 0.0	RYVIX

Risk-Adjusted Indicators

There is a big difference between RYWAX Mutual Fund performing well and Sp Smallcap 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 Sp Smallcap'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
CNPIX	0.95	0.36	0.33	2.10	0.42	(1.10)	2.19	(1.29)	5.05
RYAVX	0.92	0.14	0.14	0.21	0.73	(1.00)	2.67	(1.62)	5.01
RSVIX	0.52	0.02	(0.03)	0.20	0.53	(1.05)	1.71	(1.37)	5.33
RYVIX	1.44	0.47	0.28	0.50	1.31	(1.74)	4.06	(2.53)	8.92
ICPY	0.67	0.19	0.20	0.35	0.58	(0.78)	1.74	(1.28)	3.64
DUMSX	0.06	0.01	0.00	1.40	0.00	0.00	0.27	(0.09)	0.54
WAGCX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
WAISX	0.66	0.07	0.02	0.47	0.78	(0.67)	1.28	(1.47)	3.59
WTMY	0.06	0.02	(0.40)	2.78	0.00	(0.08)	0.16	(0.08)	0.55
SGRT	1.50	0.23	0.10	0.26	2.03	(1.53)	3.33	(2.94)	11.43

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