Dow Jones Correlations

Mutual Funds . USA . 
Fund . Dow Jones Industrial
RYDKX Fund  USD 93.17  1.30  1.42%   
The current 90-days correlation between Dow Jones Industrial and Franklin Adjustable Government is -0.18 (i.e., Good 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

Good diversification

The correlation between Dow Jones Industrial and DJI is -0.04 (i.e., Good 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

  0.96RYBKX Banking Fund ClassPairCorr
  0.79RYBHX Sp Midcap 400PairCorr
  0.79RYAKX Russell 2000 15xPairCorr
  0.84RYAHX Mid Cap 15xPairCorr
  0.79RYATX Nasdaq 100 FundPairCorr
  0.91RYANX Nova Fund ClassPairCorr
  0.72RYAZX Sp Smallcap 600PairCorr
  0.92RYAWX Sp 500 PurePairCorr
  0.85RYAVX Sp Midcap 400PairCorr
  1.0RYDHX Dow Jones IndustrialPairCorr
  0.83RYDCX Mid Cap 15xPairCorr
  0.81RYCHX Technology Fund ClassPairCorr
  0.77RYCCX Nasdaq 100 2xPairCorr
  0.72RYCNX Transportation Fund ClassPairCorr
  0.79RYCMX Russell 2000 15xPairCorr

Moving against Dow Mutual Fund

  0.89RYARX Inverse Sp 500PairCorr
  0.84RYAIX Inverse Nasdaq 100PairCorr
  0.84RYALX Inverse Nasdaq 100PairCorr
  0.83RYAGX Inverse Mid CapPairCorr
  0.78RYACX Inverse Nasdaq 100PairCorr
  0.78RYAFX Inverse Russell 2000PairCorr
  0.84RYAPX Inverse Nasdaq 100PairCorr
  1.0RYCWX Inverse Dow 2xPairCorr
  0.91RYCBX Inverse Sp 500PairCorr
  0.86RYCDX Rydex Inverse NasdaqPairCorr
  0.81RYCLX Inverse Mid CapPairCorr
  0.81RYCQX Inverse Russell 2000PairCorr
  0.36RYCPX Consumer ProductsPairCorr

Related Correlations Analysis

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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.

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