Financial Services Correlations

RYFAX Fund

USD 82.23 0.11 0.13%

The current 90-days correlation between Financial Services and William Blair Small is 0.04 (i.e., Significant diversification). The correlation of Financial Services 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.

Financial Services Correlation With Market

Significant diversification

The correlation between Financial Services Fund and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Financial Services Fund 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 Financial Services Fund. 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 Financial Mutual Fund

0.88	RYBKX	Banking Fund Class	Pair Corr
0.82	RYAKX	Russell 2000 15x	Pair Corr
0.83	RYAHX	Mid Cap 15x	Pair Corr
0.78	RYATX	Nasdaq 100 Fund	Pair Corr
0.86	RYANX	Nova Fund Class	Pair Corr
0.83	RYAZX	Sp Smallcap 600	Pair Corr
0.87	RYAWX	Sp 500 Pure	Pair Corr
0.74	RYAVX	Sp Midcap 400	Pair Corr
0.87	RYDHX	Dow Jones Industrial	Pair Corr
0.83	RYDCX	Mid Cap 15x	Pair Corr
0.8	RYDKX	Dow Jones Industrial	Pair Corr
0.82	RYCHX	Technology Fund Class	Pair Corr
0.79	RYCCX	Nasdaq 100 2x	Pair Corr
0.91	RYCNX	Transportation Fund Class	Pair Corr
0.81	RYCMX	Russell 2000 15x	Pair Corr

Moving against Financial Mutual Fund

0.81	RYAFX	Inverse Russell 2000 Steady Growth	Pair Corr
0.67	RYAEX	Europe 125x Strategy	Pair Corr
0.65	RYCEX	Europe 125x Strategy	Pair Corr
0.59	RYAIX	Inverse Nasdaq 100 Steady Growth	Pair Corr
0.58	RYALX	Inverse Nasdaq 100 Steady Growth	Pair Corr
0.58	RYARX	Inverse Sp 500 Steady Growth	Pair Corr
0.58	RYAPX	Inverse Nasdaq 100 Steady Growth	Pair Corr
0.55	RYABX	Government Long Bond	Pair Corr
0.55	RYACX	Inverse Nasdaq 100 Steady Growth	Pair Corr
0.52	RYAGX	Inverse Mid Cap	Pair Corr
0.89	RYCWX	Inverse Dow 2x Steady Growth	Pair Corr
0.85	RYCZX	Inverse Dow 2x Steady Growth	Pair Corr
0.79	RYCQX	Inverse Russell 2000 Steady Growth	Pair Corr
0.75	RYCBX	Inverse Sp 500 Steady Growth	Pair Corr
0.67	RYCDX	Rydex Inverse Nasdaq Steady Growth	Pair Corr
0.66	RYEUX	Europe 125x Strategy	Pair Corr
0.54	RYGBX	Government Long Bond	Pair Corr
0.53	RYCGX	Government Long Bond	Pair Corr

Related Correlations Analysis

	WBVNX	FISVX	HRVIX	VISVX	AFDVX	VVSCX	SCYVX	RYOFX
WBVNX		0.92	0.92	0.97	0.93	0.98	0.93	0.91	WBVNX
FISVX	0.92		1.0	0.92	0.96	0.92	0.98	0.93	FISVX
HRVIX	0.92	1.0		0.92	0.97	0.92	0.98	0.93	HRVIX
VISVX	0.97	0.92	0.92		0.91	0.99	0.94	0.9	VISVX
AFDVX	0.93	0.96	0.97	0.91		0.91	0.96	0.93	AFDVX
VVSCX	0.98	0.92	0.92	0.99	0.91		0.92	0.88	VVSCX
SCYVX	0.93	0.98	0.98	0.94	0.96	0.92		0.96	SCYVX
RYOFX	0.91	0.93	0.93	0.9	0.93	0.88	0.96		RYOFX
	WBVNX	FISVX	HRVIX	VISVX	AFDVX	VVSCX	SCYVX	RYOFX

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Risk-Adjusted Indicators

There is a big difference between Financial Mutual Fund performing well and Financial Services 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 Financial Services' 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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
WBVNX	0.91	(0.13)	(0.07)	1.72	(1.63)	10.23
FISVX	0.89	(0.03)	(0.12)	1.90	(1.57)	10.76
HRVIX	0.82	(0.04)	(0.16)	1.60	(1.58)	10.64
VISVX	0.70	(0.04)	(0.01)	1.50	(1.25)	8.26
AFDVX	0.78	(0.05)	(0.16)	1.53	(1.36)	9.23
VVSCX	0.87	(0.08)	(0.03)	1.72	(1.55)	10.88
SCYVX	0.93	(0.04)	(0.14)	1.79	(1.46)	10.44
RYOFX	1.08	(0.06)	(0.17)	2.24	(1.64)	14.17

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