Energy Fund Correlations

RYEAX Fund

USD 219.04 3.93 1.76%

The current 90-days correlation between Energy Fund Class and Manning Napier Diversified is 0.05 (i.e., Significant diversification). The correlation of Energy 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.

Energy Fund Correlation With Market

Weak diversification

The correlation between Energy Fund Class and DJI is 0.31 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Energy 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 Energy 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 nation.

Moving together with Energy Mutual Fund

0.63	RYAHX	Mid Cap 15x	Pair Corr
0.63	RYAUX	Utilities Fund Class	Pair Corr
0.69	RYAVX	Sp Midcap 400	Pair Corr
0.62	RYDCX	Mid Cap 15x	Pair Corr
1.0	RYECX	Energy Fund Class	Pair Corr

Moving against Energy Mutual Fund

0.45	RYAGX	Inverse Mid Cap Steady Growth	Pair Corr
0.41	RYCLX	Inverse Mid Cap Steady Growth	Pair Corr

Related Correlations Analysis

	MNDWX	CAARX	DLTZX	MDBSX	HIIDX	SRDAX	PGBAX	TFCAX
MNDWX		0.9	0.47	0.93	0.87	-0.27	0.82	0.16	MNDWX
CAARX	0.9		0.55	0.9	0.92	-0.09	0.92	0.29	CAARX
DLTZX	0.47	0.55		0.5	0.57	0.65	0.78	0.88	DLTZX
MDBSX	0.93	0.9	0.5		0.85	-0.13	0.87	0.27	MDBSX
HIIDX	0.87	0.92	0.57	0.85		-0.08	0.88	0.33	HIIDX
SRDAX	-0.27	-0.09	0.65	-0.13	-0.08		0.21	0.83	SRDAX
PGBAX	0.82	0.92	0.78	0.87	0.88	0.21		0.58	PGBAX
TFCAX	0.16	0.29	0.88	0.27	0.33	0.83	0.58		TFCAX
	MNDWX	CAARX	DLTZX	MDBSX	HIIDX	SRDAX	PGBAX	TFCAX

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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

MDBSX	+ 0.93	MNDWX
HIIDX	+ 0.92	CAARX
PGBAX	+ 0.92	CAARX
CAARX	+ 0.9	MNDWX
MDBSX	+ 0.9	CAARX
TFCAX	+ 0.88	DLTZX

High negative correlations

SRDAX	- 0.27	MNDWX
SRDAX	- 0.13	MDBSX
SRDAX	- 0.09	CAARX
SRDAX	- 0.08	HIIDX

Risk-Adjusted Indicators

There is a big difference between Energy Mutual Fund performing well and Energy 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 Energy 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
MNDWX	0.12	0.01	0.01	0.21	0.11	(0.16)	0.29	(0.29)	0.97
CAARX	0.26	0.02	0.04	(0.33)	0.34	(0.27)	0.67	(0.45)	2.05
DLTZX	0.08	0.01	0.04	1.13	0.00	(0.19)	0.26	(0.13)	0.64
MDBSX	0.22	0.02	0.05	(0.34)	0.14	(0.31)	0.75	(0.38)	1.38
HIIDX	0.52	0.04	0.05	0.10	0.65	(0.55)	1.14	(0.95)	3.01
SRDAX	0.14	0.02	0.05	2.15	0.00	(0.19)	0.29	(0.37)	0.95
PGBAX	0.14	0.02	0.07	(0.60)	0.00	(0.19)	0.34	(0.25)	0.93
TFCAX	0.03	0.00	0.00	(0.51)	0.00	0.00	0.10	0.00	0.40

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