Royce Micro Correlations

RMT Stock

USD 8.58 0.12 1.38%

The current 90-days correlation between Royce Micro Cap and Tekla Healthcare Investors is 0.49 (i.e., Very weak diversification). The correlation of Royce Micro 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 Micro Correlation With Market

Significant diversification

The correlation between Royce Micro Cap and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Royce Micro Cap 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 Micro Cap. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in population.

Moving together with Royce Stock

0.81	MC	Moelis	Pair Corr
0.84	MS	Morgan Stanley	Pair Corr
0.82	AXP	American Express	Pair Corr
0.63	COF	Capital One Financial	Pair Corr
0.82	PYPL	PayPal Holdings Aggressive Push	Pair Corr
0.61	ALLY	Ally Financial Normal Trading	Pair Corr
0.91	SOFI	SoFi Technologies Aggressive Push	Pair Corr
0.7	UPST	Upstart Holdings	Pair Corr
0.67	C	Citigroup Aggressive Push	Pair Corr
0.94	AX	Axos Financial	Pair Corr
0.89	BN	Brookfield Corp	Pair Corr
0.92	BX	Blackstone Group Normal Trading	Pair Corr
0.81	BY	Byline Bancorp	Pair Corr
0.93	CG	Carlyle Group Normal Trading	Pair Corr
0.92	CM	Canadian Imperial Bank	Pair Corr
0.63	FG	FG Annuities Life	Pair Corr
0.74	GS	Goldman Sachs Group	Pair Corr

Moving against Royce Stock

0.87	CB	Chubb	Pair Corr
0.61	TWO	Two Harbors Investments	Pair Corr
0.6	FORLU	Four Leaf Acquisition	Pair Corr
0.56	MFA	MFA Financial	Pair Corr
0.56	BBUC	Brookfield Business Corp	Pair Corr
0.51	VEL	Velocity Financial Llc	Pair Corr
0.31	L	Loews Corp	Pair Corr
0.78	DB	Deutsche Bank AG	Pair Corr
0.74	TW	Tradeweb Markets Normal Trading	Pair Corr
0.73	LU	Lufax Holding Downward Rally	Pair Corr
0.71	HG	Hamilton Insurance Group,	Pair Corr
0.66	LX	Lexinfintech Holdings	Pair Corr
0.62	WU	Western Union	Pair Corr
0.6	VBFC	Village Bank	Pair Corr
0.58	TECTP	Tectonic Financial	Pair Corr

Related Correlations Analysis

	HQH	NIE	RQI	RNP	RSF	JEQ	PUYI	CBH	CXH	MUI
HQH		0.37	0.76	0.65	0.48	0.02	0.0	0.0	0.65	-0.69	HQH
NIE	0.37		0.11	-0.09	-0.14	-0.63	0.0	0.0	0.01	0.13	NIE
RQI	0.76	0.11		0.89	0.55	0.21	0.0	0.0	0.75	-0.72	RQI
RNP	0.65	-0.09	0.89		0.69	0.52	0.0	0.0	0.67	-0.75	RNP
RSF	0.48	-0.14	0.55	0.69		0.48	0.0	0.0	0.6	-0.53	RSF
JEQ	0.02	-0.63	0.21	0.52	0.48		0.0	0.0	0.09	-0.31	JEQ
PUYI	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	PUYI
CBH	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	CBH
CXH	0.65	0.01	0.75	0.67	0.6	0.09	0.0	0.0		-0.63	CXH
MUI	-0.69	0.13	-0.72	-0.75	-0.53	-0.31	0.0	0.0	-0.63		MUI
	HQH	NIE	RQI	RNP	RSF	JEQ	PUYI	CBH	CXH	MUI

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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

RNP	+ 0.89	RQI
RQI	+ 0.76	HQH
CXH	+ 0.75	RQI
RSF	+ 0.69	RNP
CXH	+ 0.67	RNP
RNP	+ 0.65	HQH

High negative correlations

MUI	- 0.75	RNP
MUI	- 0.72	RQI
MUI	- 0.69	HQH
MUI	- 0.63	CXH
JEQ	- 0.63	NIE
MUI	- 0.53	RSF

Risk-Adjusted Indicators

There is a big difference between Royce Stock performing well and Royce Micro 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 Micro'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
HQH	0.81	0.09	0.16	0.44	0.81	(0.92)	1.62	(1.37)	3.79
NIE	0.85	(0.05)	0.00	(0.15)	0.00	0.00	1.51	(2.46)	7.23
RQI	0.79	0.13	0.13	0.12	1.01	(0.80)	1.81	(1.93)	4.73
RNP	0.68	0.13	0.18	0.18	0.81	(0.73)	1.46	(1.55)	4.54
RSF	0.37	0.03	0.23	(0.77)	0.36	(0.45)	0.95	(0.72)	2.89
JEQ	0.80	0.34	0.38	1.02	0.64	(0.99)	1.74	(1.22)	8.02
PUYI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
CBH	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
CXH	0.36	0.04	0.16	1.45	0.50	(0.37)	0.76	(0.75)	2.37
MUI	0.46	(0.02)	0.00	(0.24)	0.00	0.00	0.73	(1.40)	3.95

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