Sp Midcap Correlations

RYAVX Fund

USD 78.38 1.28 1.61%

The current 90-days correlation between Sp Midcap 400 and Sp Smallcap 600 is -0.06 (i.e., Good diversification). The correlation of Sp Midcap 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.

Sp Midcap Correlation With Market

Poor diversification

The correlation between Sp Midcap 400 and DJI is 0.73 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sp Midcap 400 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 Sp Midcap 400. 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 services.

Moving together with RYAVX Mutual Fund

0.62	RYBCX	Basic Materials	Pair Corr
0.68	RYBKX	Banking Fund Class	Pair Corr
0.85	RYBHX	Sp Midcap 400	Pair Corr
0.66	RYBIX	Basic Materials	Pair Corr
0.77	RYAHX	Mid Cap 15x	Pair Corr
0.8	RYAZX	Sp Smallcap 600	Pair Corr
0.8	RYDHX	Dow Jones Industrial	Pair Corr
0.77	RYDCX	Mid Cap 15x	Pair Corr
0.73	RYCEX	Europe 125x Strategy	Pair Corr
0.64	RYCNX	Transportation Fund Class	Pair Corr
0.87	RYCMX	Russell 2000 15x	Pair Corr
0.61	RYCOX	Nasdaq 100 Fund	Pair Corr

Moving against RYAVX Mutual Fund

0.72	RYAFX	Inverse Russell 2000	Pair Corr
0.52	RYAUX	Utilities Fund Class	Pair Corr
0.5	RYALX	Inverse Nasdaq 100	Pair Corr
0.5	RYAGX	Inverse Mid Cap	Pair Corr
0.49	RYARX	Inverse Sp 500	Pair Corr
0.47	RYACX	Inverse Nasdaq 100	Pair Corr
0.43	RYABX	Government Long Bond	Pair Corr
0.81	RYCZX	Inverse Dow 2x	Pair Corr
0.74	RYCBX	Inverse Sp 500	Pair Corr
0.72	RYCQX	Inverse Russell 2000	Pair Corr
0.65	RYCLX	Inverse Mid Cap	Pair Corr
0.59	RYCWX	Inverse Dow 2x	Pair Corr
0.57	RYCDX	Rydex Inverse Nasdaq	Pair Corr
0.51	RYCUX	Utilities Fund Class	Pair Corr
0.36	RYCGX	Government Long Bond	Pair Corr
0.35	RYGBX	Government Long Bond	Pair Corr

Related Correlations Analysis

	RYAZX	RYWAX	RYZAX	BPI	RYPIX	SSETX	SGRT	RYRIX	WTMU	WTMY
RYAZX		0.79	0.83	-0.17	0.7	0.0	0.54	0.82	0.33	0.17	RYAZX
RYWAX	0.79		0.62	-0.12	0.78	0.0	0.65	0.92	0.39	0.18	RYWAX
RYZAX	0.83	0.62		-0.5	0.83	0.0	0.36	0.63	0.63	0.42	RYZAX
BPI	-0.17	-0.12	-0.5		-0.51	0.0	0.27	-0.01	-0.73	-0.64	BPI
RYPIX	0.7	0.78	0.83	-0.51		0.0	0.54	0.74	0.74	0.47	RYPIX
SSETX	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	SSETX
SGRT	0.54	0.65	0.36	0.27	0.54	0.0		0.74	0.22	0.12	SGRT
RYRIX	0.82	0.92	0.63	-0.01	0.74	0.0	0.74		0.36	0.21	RYRIX
WTMU	0.33	0.39	0.63	-0.73	0.74	0.0	0.22	0.36		0.9	WTMU
WTMY	0.17	0.18	0.42	-0.64	0.47	0.0	0.12	0.21	0.9		WTMY
	RYAZX	RYWAX	RYZAX	BPI	RYPIX	SSETX	SGRT	RYRIX	WTMU	WTMY

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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

RYRIX	+ 0.92	RYWAX
WTMY	+ 0.9	WTMU
RYZAX	+ 0.83	RYAZX
RYPIX	+ 0.83	RYZAX
RYRIX	+ 0.82	RYAZX
RYWAX	+ 0.79	RYAZX

High negative correlations

WTMU	- 0.73	BPI
WTMY	- 0.64	BPI
RYPIX	- 0.51	BPI
BPI	- 0.5	RYZAX
BPI	- 0.17	RYAZX
BPI	- 0.12	RYWAX

Risk-Adjusted Indicators

There is a big difference between RYAVX Mutual Fund performing well and Sp Midcap 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 Sp Midcap'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
RYAZX	0.94	0.08	0.03	0.55	1.11	(1.03)	2.39	(1.84)	5.39
RYWAX	0.91	(0.02)	(0.01)	0.05	1.06	(0.98)	1.60	(1.71)	4.54
RYZAX	0.64	0.12	0.07	0.75	0.71	(0.69)	1.23	(1.41)	3.59
BPI	2.10	(0.50)	0.00	(0.29)	0.00	0.00	3.52	(3.87)	10.57
RYPIX	0.95	0.09	0.08	0.13	1.11	(1.00)	1.97	(1.86)	4.62
SSETX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
SGRT	1.72	0.00	0.02	0.06	2.68	(1.49)	3.33	(4.86)	11.43
RYRIX	0.78	(0.01)	(0.01)	0.05	0.93	(0.85)	1.98	(1.25)	4.54
WTMU	0.06	0.02	(0.48)	4.76	0.00	(0.09)	0.16	(0.12)	0.43
WTMY	0.07	0.02	(0.64)	(10.74)	0.00	(0.10)	0.16	(0.08)	0.39

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