Energy Fund Correlations

Mutual Funds . USA . 
Fund . Energy Fund Class
RYEAX Fund  USD 221.86  1.93  0.86%   
The current 90-days correlation between Energy Fund Class and Massmutual Retiresmart Moderate is 0.47 (i.e., Very weak 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

Very weak diversification

The correlation between Energy Fund Class and DJI is 0.42 (i.e., Very 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

  0.63RYBKX Banking Fund ClassPairCorr
  0.61RYAKX Russell 2000 15xPairCorr
  0.68RYAHX Mid Cap 15xPairCorr
  0.65RYAQX Inverse Government LongPairCorr
  0.65RYAWX Sp 500 PurePairCorr
  0.77RYAVX Sp Midcap 400PairCorr
  0.68RYDCX Mid Cap 15xPairCorr
  1.0RYECX Energy Fund ClassPairCorr

Moving against Energy Mutual Fund

  0.6RYAFX Inverse Russell 2000PairCorr
  0.57RYAGX Inverse Mid CapPairCorr
  0.54RYABX Government Long BondPairCorr
  0.54RYARX Inverse Sp 500PairCorr
  0.51RYACX Inverse Nasdaq 100PairCorr
  0.5RYAIX Inverse Nasdaq 100PairCorr
  0.5RYALX Inverse Nasdaq 100PairCorr
  0.5RYAPX Inverse Nasdaq 100PairCorr
  0.67RYCAX Consumer ProductsPairCorr
  0.67RYCPX Consumer ProductsPairCorr
  0.67RYCIX Consumer ProductsPairCorr
  0.61RYCQX Inverse Russell 2000PairCorr
  0.58RYCGX Government Long BondPairCorr
  0.56RYGBX Government Long BondPairCorr
  0.54RYCBX Inverse Sp 500PairCorr
  0.52RYCLX Inverse Mid CapPairCorr
  0.51RYCDX Rydex Inverse NasdaqPairCorr
  0.5RYCWX Inverse Dow 2xPairCorr

Related Correlations Analysis

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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.

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