Real Estate Correlations

Mutual Funds . USA . 
Fund . Real Estate Fund
RYHRX Fund  USD 39.86  0.42  1.04%   
The current 90-days correlation between Real Estate Fund and Utilities Fund Investor is 0.57 (i.e., Very weak diversification). The correlation of Real Estate 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.

Real Estate Correlation With Market

Good diversification

The correlation between Real Estate Fund and DJI is -0.02 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Real Estate 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 Real Estate 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 metropolitan statistical area.

Moving together with Real Mutual Fund

  0.78VGSIX Vanguard Reit IndexPairCorr
  0.99VGSLX Vanguard Reit IndexPairCorr
  0.78VGSNX Vanguard Reit IndexPairCorr
  0.75DFREX Dfa Real EstatePairCorr
  0.96CSCIX Cohen Steers RealPairCorr
  0.95CSEIX Cohen Steers RealPairCorr
  0.95CSDIX Cohen Steers RealPairCorr
  0.99VRTPX Vanguard Reit IiPairCorr
  0.96CSRIX Cohen And SteersPairCorr
  0.94PIREX Real Estate SecuritiesPairCorr
  0.81FSMMX Fs Multi StrategyPairCorr
  0.66BTMPX Ishares Msci EafePairCorr
  0.65BTMKX Blackrock InternationalPairCorr
  0.66MDIIX Blackrock Intern IndexPairCorr
  0.69GIOIX Guggenheim Macro OppPairCorr
  0.63PGLSX Global Multi StrategyPairCorr
  0.74DBIWX Dws Global MacroPairCorr
  0.74TIMUX Transamerica IntermediatePairCorr
  0.68HTD John Hancock TaxPairCorr
  0.65IBM International BusinessPairCorr
  0.61MMM 3M CompanyPairCorr
  0.74CSCO Cisco SystemsPairCorr
  0.67DD Dupont De NemoursPairCorr

Moving against Real Mutual Fund

  0.32AA Alcoa CorpPairCorr

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   
RYTIX
+ 0.9
RYPIX
RYTIX
+ 0.76
RYFIX
RYFIX
+ 0.71
RYHIX
RYFIX
+ 0.56
RYPIX
RYHIX
+ 0.41
RYUIX
RYFIX
+ 0.28
RYUIX
  
High negative correlations   
RYPIX
- 0.44
RYUIX
RYTIX
- 0.14
RYUIX

Risk-Adjusted Indicators

There is a big difference between Real Mutual Fund performing well and Real Estate 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 Real Estate'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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