Sp 500 Correlations

Mutual Funds . USA . 
Fund . Sp 500 2x
RYCTX Fund  USD 238.40  4.99  2.14%   
The current 90-days correlation between Sp 500 2x and Schwab Global Real is -0.1 (i.e., Good diversification). The correlation of Sp 500 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.

Sp 500 Correlation With Market

Poor diversification

The correlation between Sp 500 2x and DJI is 0.67 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sp 500 2x 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 Sp 500 2x. 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 estimate.

Moving together with RYCTX Mutual Fund

  0.88RYBKX Banking Fund ClassPairCorr
  0.78RYBHX Sp Midcap 400PairCorr
  0.94RYAKX Russell 2000 15xPairCorr
  0.93RYAHX Mid Cap 15xPairCorr
  0.98RYATX Nasdaq 100 FundPairCorr
  0.98RYANX Nova Fund ClassPairCorr
  0.86RYAZX Sp Smallcap 600PairCorr
  0.93RYAWX Sp 500 PurePairCorr
  0.89RYAVX Sp Midcap 400PairCorr
  0.87RYDHX Dow Jones IndustrialPairCorr
  0.93RYDCX Mid Cap 15xPairCorr
  0.89RYDKX Dow Jones IndustrialPairCorr
  0.63RYEAX Energy Fund ClassPairCorr
  0.98RYCHX Technology Fund ClassPairCorr
  0.98RYCCX Nasdaq 100 2xPairCorr
  0.9RYCNX Transportation Fund ClassPairCorr
  0.94RYCMX Russell 2000 15xPairCorr

Moving against RYCTX Mutual Fund

  0.95RYACX Inverse Nasdaq 100PairCorr
  0.94RYAFX Inverse Russell 2000PairCorr
  0.87RYAIX Inverse Nasdaq 100PairCorr
  0.86RYALX Inverse Nasdaq 100PairCorr
  0.86RYAPX Inverse Nasdaq 100PairCorr
  0.74RYARX Inverse Sp 500PairCorr
  0.57RYAGX Inverse Mid CapPairCorr
  0.39RYAEX Europe 125x StrategyPairCorr
  0.39RYCEX Europe 125x StrategyPairCorr
  0.31RYABX Government Long BondPairCorr
  0.9RYCBX Inverse Sp 500PairCorr
  0.9RYCDX Rydex Inverse NasdaqPairCorr
  0.88RYCZX Inverse Dow 2xPairCorr
  0.87RYCQX Inverse Russell 2000PairCorr
  0.86RYCWX Inverse Dow 2xPairCorr
  0.51RYCLX Inverse Mid CapPairCorr
  0.39RYEUX Europe 125x StrategyPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between RYCTX Mutual Fund performing well and Sp 500 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 Sp 500'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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