Royce Global Correlations

RGT Stock

USD 10.87 0.11 1.02%

The current 90-days correlation between Royce Global Value and RiverNorth Flexible Municipalome is 0.08 (i.e., Significant diversification). The correlation of Royce Global 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.

Royce Global Correlation With Market

Modest diversification

The correlation between Royce Global Value and DJI is 0.26 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Royce Global Value 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 Royce Global Value. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in price.

Moving together with Royce Stock

0.64	ALLY	Ally Financial Fiscal Year End 17th of January 2025	Pair Corr
0.62	APAM	Artisan Partners Asset Fiscal Year End 4th of February 2025	Pair Corr

Moving against Royce Stock

0.58	PFX	Phenixfin	Pair Corr
0.34	CWD	CaliberCos Class A	Pair Corr

Related Correlations Analysis

	RFM	KTF	CBH	PUYI	CXH	EOT	FMN	NXC	MHN
RFM		0.83	-0.71	-0.38	0.69	0.87	0.78	0.71	0.88	RFM
KTF	0.83		-0.36	-0.36	0.79	0.66	0.5	0.4	0.78	KTF
CBH	-0.71	-0.36		0.46	-0.26	-0.77	-0.83	-0.91	-0.61	CBH
PUYI	-0.38	-0.36	0.46		-0.17	-0.44	-0.19	-0.53	-0.33	PUYI
CXH	0.69	0.79	-0.26	-0.17		0.64	0.48	0.33	0.85	CXH
EOT	0.87	0.66	-0.77	-0.44	0.64		0.69	0.78	0.82	EOT
FMN	0.78	0.5	-0.83	-0.19	0.48	0.69		0.85	0.81	FMN
NXC	0.71	0.4	-0.91	-0.53	0.33	0.78	0.85		0.7	NXC
MHN	0.88	0.78	-0.61	-0.33	0.85	0.82	0.81	0.7		MHN
	RFM	KTF	CBH	PUYI	CXH	EOT	FMN	NXC	MHN

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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

MHN	+ 0.88	RFM
EOT	+ 0.87	RFM
MHN	+ 0.85	CXH
NXC	+ 0.85	FMN
KTF	+ 0.83	RFM
MHN	+ 0.82	EOT

High negative correlations

NXC	- 0.91	CBH
FMN	- 0.83	CBH
EOT	- 0.77	CBH
CBH	- 0.71	RFM
MHN	- 0.61	CBH
NXC	- 0.53	PUYI

Risk-Adjusted Indicators

There is a big difference between Royce Stock performing well and Royce Global Company 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 Royce Global'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
RFM	0.41	(0.11)	0.00	(2.83)	0.00	0.00	0.75	(1.09)	2.51
KTF	0.48	(0.05)	0.00	(0.44)	0.00	0.00	1.13	(1.11)	3.43
CBH	0.13	0.04	0.12	1.28	0.00	(0.18)	0.22	(0.22)	0.78
PUYI	3.18	0.26	0.04	0.89	3.94	(5.27)	9.80	(9.58)	28.16
CXH	0.41	(0.03)	0.00	(0.46)	0.00	0.00	0.75	(1.00)	3.29
EOT	0.41	(0.10)	0.00	(2.33)	0.00	0.00	0.86	(1.02)	2.87
FMN	0.52	(0.19)	0.00	(0.96)	0.00	0.00	0.99	(1.50)	2.68
NXC	0.47	(0.11)	0.00	(0.63)	0.00	0.00	0.81	(1.15)	4.03
MHN	0.48	(0.08)	0.00	(0.59)	0.00	0.00	0.95	(1.22)	2.44

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