Biotechnology Fund Correlations

RYOIX Fund

USD 66.43 1.31 1.93%

The current 90-days correlation between Biotechnology Fund and Health Care Fund is -0.27 (i.e., Very good diversification). The correlation of Biotechnology Fund 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.

Biotechnology Fund Correlation With Market

Very weak diversification

The correlation between Biotechnology Fund Investor and DJI is 0.46 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Biotechnology Fund Investor 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 Biotechnology Fund Investor. 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 gross domestic product.

Moving together with Biotechnology Mutual Fund

0.73	RYBCX	Basic Materials	Pair Corr
0.74	RYBAX	Basic Materials	Pair Corr
0.74	RYBMX	Basic Materials	Pair Corr
0.73	RYBIX	Basic Materials	Pair Corr
1.0	RYBOX	Biotechnology Fund Class	Pair Corr
0.63	RYAEX	Europe 125x Strategy Potential Growth	Pair Corr
1.0	RYCFX	Biotechnology Fund Class	Pair Corr
0.63	RYCEX	Europe 125x Strategy Potential Growth	Pair Corr

Moving against Biotechnology Mutual Fund

0.35	RYAQX	Inverse Government Long	Pair Corr
0.43	RYCWX	Inverse Dow 2x	Pair Corr

Related Correlations Analysis

	RYHIX	RYSIX	RYTIX	RYFIX	RYVIX
RYHIX		-0.12	0.23	0.72	0.06	RYHIX
RYSIX	-0.12		0.88	0.4	0.87	RYSIX
RYTIX	0.23	0.88		0.73	0.82	RYTIX
RYFIX	0.72	0.4	0.73		0.5	RYFIX
RYVIX	0.06	0.87	0.82	0.5		RYVIX
	RYHIX	RYSIX	RYTIX	RYFIX	RYVIX

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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	+ 0.88	RYSIX
RYVIX	+ 0.87	RYSIX
RYVIX	+ 0.82	RYTIX
RYFIX	+ 0.73	RYTIX
RYFIX	+ 0.72	RYHIX
RYVIX	+ 0.5	RYFIX

High negative correlations

RYSIX

- 0.12

RYHIX

Risk-Adjusted Indicators

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

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
RYHIX	0.67	0.04	0.05	(0.44)	0.65	(0.75)	1.41	(1.17)	3.28
RYSIX	1.82	(0.18)	0.00	(0.13)	0.00	0.00	2.77	(4.59)	12.49
RYTIX	1.33	(0.12)	0.00	(0.09)	0.00	0.00	2.12	(3.41)	6.87
RYFIX	0.81	0.00	0.00	0.23	1.11	(0.86)	1.95	(2.55)	5.12
RYVIX	1.29	(0.06)	0.00	(0.19)	0.00	0.00	2.71	(2.90)	8.26

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