Russell 2000 Correlations

RYMKX Fund  USD 63.59  1.21  1.87%   
The current 90-days correlation between Russell 2000 15x and T Rowe Price is 0.09 (i.e., Significant diversification). The correlation of Russell 2000 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.

Russell 2000 Correlation With Market

Very poor diversification

The correlation between Russell 2000 15x and DJI is 0.85 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Russell 2000 15x 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 Russell 2000 15x. 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 industry.

Moving together with Russell Mutual Fund

  0.9RYBKX Banking Fund Class Potential GrowthPairCorr
  0.92RYBHX Sp Midcap 400PairCorr
  1.0RYAKX Russell 2000 15xPairCorr
  0.99RYAHX Mid Cap 15xPairCorr
  0.68RYAQX Inverse Government LongPairCorr
  0.85RYATX Nasdaq 100 FundPairCorr
  0.99RYAZX Sp Smallcap 600PairCorr
  0.91RYAWX Sp 500 PurePairCorr
  0.98RYAVX Sp Midcap 400PairCorr
  0.77RYECX Energy Fund ClassPairCorr
  0.89RYCCX Nasdaq 100 2x Steady GrowthPairCorr
  0.96RYCVX Dow 2x StrategyPairCorr
  0.91RYCYX Dow 2x StrategyPairCorr
  0.92RYCSX TelecommunicationsPairCorr
  0.95RYFNX Financial ServicesPairCorr
  0.95RYFIX Financial ServicesPairCorr
  0.78RYEIX Energy Fund InvestorPairCorr
  0.85RYHOX Nasdaq 100 FundPairCorr
  0.68RYHJX Inverse Government LongPairCorr
  0.9RYKAX Banking Fund Class Potential GrowthPairCorr
  0.9RYKIX Banking Fund Investor Potential GrowthPairCorr
  0.92RYINX Internet Fund ClassPairCorr
  0.89RYMAX TelecommunicationsPairCorr

Moving against Russell Mutual Fund

  0.98RYAGX Inverse Mid CapPairCorr
  0.92RYARX Inverse Sp 500PairCorr
  0.92RYCBX Inverse Sp 500PairCorr
  0.88RYAIX Inverse Nasdaq 100PairCorr
  0.77RYEUX Europe 125x StrategyPairCorr
  0.98RYMHX Inverse Mid CapPairCorr
  0.92RYURX Inverse Sp 500PairCorr
  0.52RYHCX Health Care FundPairCorr
  0.51RYHIX Health Care FundPairCorr
  0.51RYHEX Health Care FundPairCorr
  0.37RYJTX Japan 2x Strategy Steady GrowthPairCorr
  0.37RYJHX Japan 2x Strategy Steady GrowthPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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   
DFVEXHCEGX
SPRDXPAEIX
DFVEXLOGRX
HCEGXLOGRX
QDIBXPAEIX
QDIBXSPRDX
  
High negative correlations   
DFVEXQDIBX
HCEGXQDIBX
DFVEXSPRDX
HCEGXSPRDX
DFVEXPAEIX
LOGRXSPRDX

Risk-Adjusted Indicators

There is a big difference between Russell Mutual Fund performing well and Russell 2000 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 Russell 2000'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.