Russell 2000 Correlations

Mutual Funds . USA . 
Fund . Russell 2000 15x
RYMKX Fund  USD 64.08  0.49  0.77%   
The current 90-days correlation between Russell 2000 15x and Gmo High Yield is 0.58 (i.e., Very weak 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 0.84 (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

  0.96RYBHX Sp Midcap 400PairCorr
  1.0RYAKX Russell 2000 15xPairCorr
  0.64RYAQX Inverse Government LongPairCorr
  0.99RYAZX Sp Smallcap 600PairCorr
  0.92RYAWX Sp 500 PurePairCorr
  0.98RYAVX Sp Midcap 400PairCorr
  0.76RYEAX Energy Fund ClassPairCorr
  0.89RYCCX Nasdaq 100 2x Steady GrowthPairCorr
  1.0RYCMX Russell 2000 15xPairCorr
  0.96RYCYX Dow 2x StrategyPairCorr
  0.95RYFNX Financial ServicesPairCorr
  0.95RYFIX Financial ServicesPairCorr
  0.76RYENX Energy Fund ClassPairCorr
  0.64RYHJX Inverse Government LongPairCorr
  0.95RYKIX Banking Fund InvestorPairCorr
  0.63RYJCX Inverse Government LongPairCorr
  0.93RYMIX TelecommunicationsPairCorr
  0.96RYLDX Dow 2x StrategyPairCorr
  0.9RYOCX Nasdaq 100 FundPairCorr
  0.96RYPIX Transportation FundPairCorr
  0.81RYRIX Retailing Fund InvestorPairCorr
  0.92RYTIX Technology Fund InvestorPairCorr
  0.9RYVLX Nasdaq 100 2x Steady GrowthPairCorr
  0.9RYVYX Nasdaq 100 2x Steady GrowthPairCorr

Moving against Russell Mutual Fund

  1.0RYAFX Inverse Russell 2000PairCorr
  0.93RYCBX Inverse Sp 500PairCorr
  0.92RYARX Inverse Sp 500PairCorr
  0.88RYACX Inverse Nasdaq 100PairCorr
  0.76RYEUX Europe 125x StrategyPairCorr
  0.98RYMHX Inverse Mid CapPairCorr
  0.8RYWDX Weakening DollarPairCorr
  0.5RYHIX Health Care FundPairCorr

Related Correlations Analysis

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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.

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