Dow Jones Correlations

RYDKX Fund

USD 95.44 0.34 0.36%

The current 90-days correlation between Dow Jones Industrial and Highland Longshort Healthcare is 0.6 (i.e., Poor diversification). The correlation of Dow Jones 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.

Dow Jones Correlation With Market

Poor diversification

The correlation between Dow Jones Industrial and DJI is 0.69 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Dow Jones Industrial 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 Dow Jones Industrial. 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 industry.

Moving together with Dow Mutual Fund

0.73	RYBCX	Basic Materials	Pair Corr
0.75	RYBAX	Basic Materials	Pair Corr
0.93	RYBKX	Banking Fund Class	Pair Corr
0.75	RYBMX	Basic Materials	Pair Corr
0.67	RYBHX	Sp Midcap 400	Pair Corr
0.74	RYBIX	Basic Materials	Pair Corr
0.72	RYBOX	Biotechnology Fund Class	Pair Corr
0.79	RYAKX	Russell 2000 15x	Pair Corr
0.85	RYAHX	Mid Cap 15x	Pair Corr
0.74	RYAUX	Utilities Fund Class	Pair Corr
0.78	RYATX	Nasdaq 100 Fund	Pair Corr
0.75	RYANX	Nova Fund Class	Pair Corr
0.61	RYAZX	Sp Smallcap 600	Pair Corr
0.67	RYAWX	Sp 500 Pure	Pair Corr
0.83	RYAVX	Sp Midcap 400	Pair Corr
1.0	RYDHX	Dow Jones Industrial	Pair Corr
0.84	RYDCX	Mid Cap 15x	Pair Corr
0.69	RYCFX	Biotechnology Fund Class	Pair Corr
0.74	RYCHX	Technology Fund Class	Pair Corr
0.69	RYCCX	Nasdaq 100 2x	Pair Corr
0.79	RYCMX	Russell 2000 15x	Pair Corr

Moving against Dow Mutual Fund

0.63	RYAQX	Inverse Government Long	Pair Corr
0.49	RYAGX	Inverse Mid Cap Steady Growth	Pair Corr
0.43	RYCLX	Inverse Mid Cap Steady Growth	Pair Corr

Related Correlations Analysis

	HHCZX	SHSSX	JAFKX	RAGHX	SCHLX
HHCZX		0.5	0.66	0.77	0.67	HHCZX
SHSSX	0.5		0.91	0.81	0.9	SHSSX
JAFKX	0.66	0.91		0.91	0.86	JAFKX
RAGHX	0.77	0.81	0.91		0.9	RAGHX
SCHLX	0.67	0.9	0.86	0.9		SCHLX
	HHCZX	SHSSX	JAFKX	RAGHX	SCHLX

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Risk-Adjusted Indicators

There is a big difference between Dow Mutual Fund performing well and Dow Jones 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 Dow Jones' 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
HHCZX	0.14	(0.01)	0.00	(0.11)	0.00	0.00	0.30	(0.30)	0.91
SHSSX	0.65	0.00	(0.01)	0.17	1.13	(0.63)	1.21	(1.24)	6.17
JAFKX	0.72	0.00	0.00	0.01	0.93	(0.75)	1.28	(1.46)	4.10
RAGHX	0.64	0.04	0.04	0.10	0.76	(0.64)	1.23	(1.25)	3.32
SCHLX	0.60	0.04	0.05	(0.76)	0.65	(0.67)	1.27	(1.17)	3.10

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