Royce Special Correlations

Mutual Funds . USA . 
Fund . Royce Special Equity
RSEFX Fund  USD 14.01  0.21  1.48%   
The current 90-days correlation between Royce Special Equity and Royce Small Cap Value is 0.89 (i.e., Very poor diversification). The correlation of Royce Special 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 Special Correlation With Market

Poor diversification

The correlation between Royce Special Equity and DJI is 0.68 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Royce Special Equity 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 Special Equity. 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 census.

Moving together with Royce Mutual Fund

  0.8RPFFX Royce PremierPairCorr
  0.71RDVIX Royce Dividend ValuePairCorr
  0.73RVPHX Royce Smaller CompaniesPairCorr
  0.9RVVHX Royce Small CapPairCorr
  0.71RYDVX Royce Dividend ValuePairCorr
  0.82RYOFX Royce OpportunityPairCorr
  0.87RYOTX Royce Micro CapPairCorr
  0.88RYPFX Royce Pennsylvania MutualPairCorr
  0.8RYPRX Royce PremierPairCorr
  0.82RYPNX Royce OpportunityPairCorr
  1.0RYSEX Royce Special EquityPairCorr
  0.76RYTFX Royce Total ReturnPairCorr
  0.76RYTRX Royce Total ReturnPairCorr
  0.9RYVFX Royce Small CapPairCorr
  0.74RYVPX Royce Smaller CompaniesPairCorr
  0.87RMCFX Royce Micro CapPairCorr
  0.88PENNX Royce Pennsylvania MutualPairCorr
  0.78VSIIX Vanguard Small CapPairCorr
  0.78VISVX Vanguard Small CapPairCorr
  0.83DFSVX Us Small CapPairCorr
  0.8DFFVX Us Targeted ValuePairCorr
  0.74UBVCX Undiscovered ManagersPairCorr
  0.73UBVAX Undiscovered ManagersPairCorr
  0.73UBVSX Undiscovered ManagersPairCorr
  0.9AVFIX American Beacon SmallPairCorr

Moving against Royce Mutual Fund

  0.81GIOIX Guggenheim Macro OppPairCorr
  0.81PUCAX Prudential UnconstrainedPairCorr
  0.78PFN Pimco Income StrategyPairCorr
  0.72HRBDX Harbor Bond FundPairCorr
  0.7SGDLX Sprott Gold EquityPairCorr
  0.68VICSX Vanguard Intermediate-terPairCorr
  0.68VWICX Vanguard InternationalPairCorr
  0.66PCF Putnam High IncomePairCorr
  0.58XPPRX Voya Prime RatePairCorr
  0.35NXJ Nuveen New JerseyPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Royce Mutual Fund performing well and Royce Special 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 Royce Special'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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