Energy Fund Correlations

Mutual Funds . USA . 
Fund . Energy Fund Investor
RYEIX Fund  USD 257.01  3.80  1.50%   
The current 90-days correlation between Energy Fund Investor and Energy Services Fund is 0.91 (i.e., Almost no 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 Investor 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 Investor 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 Investor. 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 gross domestic product.

Moving together with Energy Mutual Fund

  0.63RYBKX Banking Fund ClassPairCorr
  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
  1.0RYEAX Energy Fund ClassPairCorr
  1.0RYECX Energy Fund ClassPairCorr

Moving against Energy Mutual Fund

  0.6RYAFX Inverse Russell 2000PairCorr
  0.56RYAGX Inverse Mid CapPairCorr
  0.54RYABX Government Long BondPairCorr
  0.53RYARX Inverse Sp 500PairCorr
  0.5RYACX 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
  0.6RYCQX Inverse Russell 2000PairCorr
  0.57RYCGX Government Long BondPairCorr
  0.55RYGBX 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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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   
RYFIX
+ 0.71
RYHIX
RYFIX
+ 0.54
RYBIX
RYPMX
+ 0.54
RYHIX
RYFIX
+ 0.51
RYVIX
RYHIX
+ 0.46
RYBIX
RYPMX
+ 0.41
RYBIX
  
High negative correlations   
RYPMX
- 0.4
RYVIX

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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