Regional Bank Correlations

Mutual Funds . USA . 
Fund . Regional Bank Fund
FRBAX Fund  USD 26.98  0.07  0.26%   
The current 90-days correlation between Regional Bank and Schwab Health Care is -0.07 (i.e., Good diversification). The correlation of Regional Bank 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.

Regional Bank Correlation With Market

Significant diversification

The correlation between Regional Bank Fund and DJI is 0.03 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Regional Bank Fund and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Regional Bank 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 nation.

Moving together with Regional Mutual Fund

  1.0FRBCX Regional BankPairCorr
  0.81JQLBX Multimanager LifestylePairCorr
  0.92JQLAX Multimanager LifestylePairCorr
  0.89JQLGX Multimanager LifestylePairCorr
  1.0JRBFX Regional BankPairCorr
  0.91JRETX J Hancock IiPairCorr
  1.0JRGRX Regional BankPairCorr
  0.85JRLQX Retirement Living ThroughPairCorr
  0.85JRLUX Multi Index 2045PairCorr
  0.88JRLWX Retirement Living ThroughPairCorr
  0.85JRLVX Retirement Living ThroughPairCorr
  0.88JRLZX Retirement Living ThroughPairCorr
  0.91JROUX J Hancock IiPairCorr
  0.88JRODX J Hancock IiPairCorr
  0.86JAAFX Jhancock Multi IndexPairCorr
  0.86JAAJX Jhancock Multi IndexPairCorr
  0.86JAAKX Jhancock Multi IndexPairCorr
  0.63JRTGX Retirement Living ThroughPairCorr
  0.64JRTIX Multi Index 2030PairCorr
  0.9JAAVX Jhancock MultimanagerPairCorr
  0.72JRTKX Retirement Living ThroughPairCorr

Related Correlations Analysis

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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   
LYFCX
+ 0.98
SCHLX
VGHCX
+ 0.91
PJHRX
LYFCX
+ 0.82
SWHFX
SCHLX
+ 0.8
SWHFX
VGHCX
+ 0.46
SWHFX
LYFCX
+ 0.45
ETAHX
  
High negative correlations   
PJHRX
- 0.07
SCHLX

Risk-Adjusted Indicators

There is a big difference between Regional Mutual Fund performing well and Regional Bank 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 Regional Bank'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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