Mid-cap 15x Correlations

RYMDX Fund  USD 120.41  0.94  0.77%   
The current 90-days correlation between Mid Cap 15x and Virtus Convertible is 0.88 (i.e., Very poor diversification). The correlation of Mid-cap 15x 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.

Mid-cap 15x Correlation With Market

Poor diversification

The correlation between Mid Cap 15x Strategy and DJI is 0.74 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mid Cap 15x Strategy 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 Mid Cap 15x Strategy. 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 unemployment.

Moving together with Mid-cap Mutual Fund

  0.87RYBKX Banking Fund ClassPairCorr
  0.89RYBHX Sp Midcap 400PairCorr
  0.98RYAKX Russell 2000 15xPairCorr
  1.0RYAHX Mid Cap 15xPairCorr
  0.91RYATX Nasdaq 100 FundPairCorr
  0.93RYANX Nova Fund ClassPairCorr
  0.95RYAZX Sp Smallcap 600PairCorr
  0.94RYAWX Sp 500 PurePairCorr
  0.97RYAVX Sp Midcap 400PairCorr
  0.82RYDHX Dow Jones IndustrialPairCorr
  1.0RYDCX Mid Cap 15xPairCorr
  0.83RYDKX Dow Jones IndustrialPairCorr
  0.68RYEAX Energy Fund Class Steady GrowthPairCorr
  0.69RYECX Energy Fund Class Steady GrowthPairCorr
  0.92RYCHX Technology Fund ClassPairCorr
  0.91RYCCX Nasdaq 100 2xPairCorr
  0.94RYCNX Transportation Fund ClassPairCorr
  0.98RYCMX Russell 2000 15xPairCorr

Moving against Mid-cap Mutual Fund

  0.98RYAFX Inverse Russell 2000PairCorr
  0.94RYARX Inverse Sp 500PairCorr
  0.92RYACX Inverse Nasdaq 100PairCorr
  0.92RYAIX Inverse Nasdaq 100PairCorr
  0.92RYALX Inverse Nasdaq 100PairCorr
  0.92RYAPX Inverse Nasdaq 100PairCorr
  0.67RYAGX Inverse Mid CapPairCorr
  0.59RYABX Government Long BondPairCorr
  0.56RYAEX Europe 125x StrategyPairCorr
  0.98RYCQX Inverse Russell 2000PairCorr
  0.93RYCBX Inverse Sp 500PairCorr
  0.91RYCDX Rydex Inverse NasdaqPairCorr
  0.85RYCWX Inverse Dow 2x Potential GrowthPairCorr
  0.85RYCZX Inverse Dow 2x Potential GrowthPairCorr
  0.61RYCLX Inverse Mid CapPairCorr
  0.59RYCGX Government Long BondPairCorr
  0.59RYGBX Government Long BondPairCorr
  0.56RYCEX Europe 125x StrategyPairCorr

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   
PCNTXVAADX
LCFYXVAADX
LCFYXPCNTX
CCDPCNTX
CCDVAADX
LCFYXCCD
  
High negative correlations   
ARBOXCCD
ARBOXPCNTX
ARBOXVAADX
ARBOXLCFYX

Risk-Adjusted Indicators

There is a big difference between Mid-cap Mutual Fund performing well and Mid-cap 15x 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 Mid-cap 15x'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.