Russell 2000 Correlations

Mutual Funds . USA . 
Fund . Russell 2000 2x
RYRUX Fund  USD 152.15  3.24  2.18%   
The current 90-days correlation between Russell 2000 2x and Amg Managers Centersquare is 0.01 (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 weak diversification

The correlation between Russell 2000 2x and DJI is 0.57 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Russell 2000 2x 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 2x. 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 employment.

Moving together with Russell Mutual Fund

  0.88RYBCX Basic MaterialsPairCorr
  0.88RYBAX Basic MaterialsPairCorr
  0.65RYBKX Banking Fund ClassPairCorr
  0.88RYBMX Basic MaterialsPairCorr
  0.94RYBHX Sp Midcap 400PairCorr
  0.87RYBIX Basic MaterialsPairCorr
  0.87RYBOX Biotechnology Fund ClassPairCorr
  1.0RYAKX Russell 2000 15xPairCorr
  0.96RYAHX Mid Cap 15xPairCorr
  0.79RYATX Nasdaq 100 FundPairCorr
  0.94RYAZX Sp Smallcap 600PairCorr
  0.92RYAVX Sp Midcap 400PairCorr
  0.74RYDHX Dow Jones IndustrialPairCorr
  0.96RYDCX Mid Cap 15xPairCorr
  0.76RYDKX Dow Jones IndustrialPairCorr
  0.87RYCFX Biotechnology Fund ClassPairCorr
  0.84RYCHX Technology Fund ClassPairCorr
  0.63RYCGX Government Long Bond Steady GrowthPairCorr
  0.79RYCAX Consumer ProductsPairCorr
  0.77RYCCX Nasdaq 100 2xPairCorr
  0.79RYCNX Transportation Fund ClassPairCorr
  1.0RYCMX Russell 2000 15xPairCorr

Moving against Russell Mutual Fund

  0.79RYAFX Inverse Russell 2000PairCorr
  0.67RYAQX Inverse Government LongPairCorr
  0.48RYALX Inverse Nasdaq 100 Steady GrowthPairCorr
  0.42RYAGX Inverse Mid CapPairCorr
  0.83RYCQX Inverse Russell 2000PairCorr
  0.67RYCWX Inverse Dow 2xPairCorr
  0.57RYCBX Inverse Sp 500PairCorr
  0.43RYGBX Government Long BondPairCorr
  0.41RYCZX Inverse Dow 2xPairCorr
  0.32RYCLX Inverse Mid CapPairCorr

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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