Royce Special Correlations

Mutual Funds . USA . 
Fund . Royce Special Equity
RSEFX Fund  USD 15.58  0.25  1.63%   
The current 90-days correlation between Royce Special Equity and Royce Small Cap Value is 0.92 (i.e., Almost no diversification). The correlation of Royce Special 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.

Royce Special Correlation With Market

Significant diversification

The correlation between Royce Special Equity and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Royce Special Equity 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 Royce Special Equity. 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 price.

Moving together with Royce Mutual Fund

  0.82RPFFX Royce PremierPairCorr
  0.67RDVIX Royce Dividend ValuePairCorr
  0.66RYDVX Royce Dividend ValuePairCorr
  0.84RYOTX Royce Micro CapPairCorr
  0.65RYSEX Royce Special EquityPairCorr
  0.65RYTFX Royce Total ReturnPairCorr
  0.65RYTRX Royce Total ReturnPairCorr
  0.94RYVFX Royce Small CapPairCorr
  0.77RYVPX Royce Smaller CompaniesPairCorr
  0.96VSIIX Vanguard Small CapPairCorr
  0.85VISVX Vanguard Small CapPairCorr
  0.98DFSVX Us Small CapPairCorr
  0.87DFFVX Us Targeted ValuePairCorr
  0.64UBVCX Undiscovered ManagersPairCorr
  0.98UBVAX Undiscovered ManagersPairCorr
  0.87UBVSX Undiscovered ManagersPairCorr
  0.86AVFIX American Beacon SmallPairCorr
  0.73MBIRX Morgan Stanley InsightPairCorr
  0.68MGRPX Growth Portfolio ClassPairCorr
  0.73MCRTX Morgan Stanley MultiPairCorr
  0.63ONERX One Rock FundPairCorr
  0.73MSCMX Morgan Stanley MultiPairCorr
  0.85RDITX American Funds 2050PairCorr
  0.72PCN Pimco Corporate IncomePairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

There is a big difference between Royce Mutual Fund performing well and Royce Special 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 Royce Special'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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