Transportation Fund Correlations

RYCNX Fund

USD 40.20 0.29 0.72%

The current 90-days correlation between Transportation Fund Class and Wmcanx is 0.75 (i.e., Poor diversification). The correlation of Transportation Fund 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.

Transportation Fund Correlation With Market

Poor diversification

The correlation between Transportation Fund Class and DJI is 0.72 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Transportation Fund Class 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 Transportation Fund Class. 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 board of governors.

Moving together with Transportation Mutual Fund

0.9	J	Jacobs Solutions	Pair Corr
0.82	R	Ryder System Earnings Call This Week	Pair Corr
0.86	BV	BrightView Holdings	Pair Corr
0.86	BW	Babcock Wilcox Enter	Pair Corr
0.74	CW	Curtiss Wright	Pair Corr
0.81	DY	Dycom Industries	Pair Corr
0.9	FA	First Advantage Corp	Pair Corr
0.87	GP	GreenPower Motor	Pair Corr
0.87	HI	Hillenbrand	Pair Corr
0.86	HY	Hyster Yale Materials	Pair Corr
0.84	IR	Ingersoll Rand	Pair Corr
0.8	NX	Quanex Building Products	Pair Corr
0.91	OC	Owens Corning	Pair Corr
0.85	OP	Oceanpal	Pair Corr
0.63	PH	Parker Hannifin	Pair Corr
0.68	TE	T1 Energy Symbol Change	Pair Corr
0.61	TG	Tredegar	Pair Corr
0.8	TT	Trane Technologies plc	Pair Corr

Moving against Transportation Mutual Fund

0.64	LZ	LegalZoom	Pair Corr
0.63	EH	Ehang Holdings	Pair Corr
0.58	KC	Kingsoft Cloud Holdings	Pair Corr
0.45	G	Genpact Limited	Pair Corr
0.39	DE	Deere Company	Pair Corr
0.39	GE	GE Aerospace	Pair Corr
0.82	VCIC	Vine Hill Capital	Pair Corr
0.79	VACH	Voyager Acquisition Corp	Pair Corr
0.78	SB	Safe Bulkers	Pair Corr
0.68	PC	Premium Catering	Pair Corr
0.61	WM	Waste Management	Pair Corr
0.43	MG	Mistras Group	Pair Corr
0.39	DNOW	Now Inc	Pair Corr

Related Correlations Analysis

	WMCANX	FVKVWX	WRLDX	OPTCX	FZNOPX	ABVCX	WABMSX
WMCANX		0.61	0.53	0.01	0.74	0.89	0.99	WMCANX
FVKVWX	0.61		0.14	-0.17	0.66	0.49	0.61	FVKVWX
WRLDX	0.53	0.14		0.67	0.07	0.57	0.58	WRLDX
OPTCX	0.01	-0.17	0.67		-0.25	0.15	0.06	OPTCX
FZNOPX	0.74	0.66	0.07	-0.25		0.78	0.72	FZNOPX
ABVCX	0.89	0.49	0.57	0.15	0.78		0.88	ABVCX
WABMSX	0.99	0.61	0.58	0.06	0.72	0.88		WABMSX
	WMCANX	FVKVWX	WRLDX	OPTCX	FZNOPX	ABVCX	WABMSX

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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

WABMSX	+ 0.99	WMCANX
ABVCX	+ 0.89	WMCANX
WABMSX	+ 0.88	ABVCX
ABVCX	+ 0.78	FZNOPX
FZNOPX	+ 0.74	WMCANX
WABMSX	+ 0.72	FZNOPX

High negative correlations

FZNOPX	- 0.25	OPTCX
OPTCX	- 0.17	FVKVWX

Risk-Adjusted Indicators

There is a big difference between Transportation Mutual Fund performing well and Transportation Fund 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 Transportation Fund'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
WMCANX	0.60	0.02	0.02	0.03	0.75	(0.65)	1.37	(1.29)	3.48
FVKVWX	0.73	0.09	0.08	0.16	1.03	(0.74)	1.50	(1.67)	4.47
WRLDX	0.63	0.01	0.01	(0.04)	0.95	(0.60)	1.24	(1.68)	2.96
OPTCX	0.06	(0.01)	(0.03)	3.08	0.07	(0.18)	0.21	(0.21)	0.93
FZNOPX	0.76	0.01	0.01	0.02	0.84	(0.87)	1.55	(1.59)	3.75
ABVCX	0.68	(0.02)	0.00	(0.02)	0.00	0.00	1.38	(1.63)	3.68
WABMSX	0.61	0.03	0.03	0.04	0.78	(0.63)	1.38	(1.29)	3.66

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