Sp Midcap Correlations

RYCKX Fund

USD 39.12 0.01 0.03%

The current 90-days correlation between Sp Midcap 400 and Basic Materials Fund is 0.53 (i.e., Very weak 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 0.77 (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 bureau of economic analysis.

Moving together with RYCKX Mutual Fund

0.81	RYBKX	Banking Fund Class	Pair Corr
1.0	RYBHX	Sp Midcap 400	Pair Corr
0.74	RYAKX	Russell 2000 15x	Pair Corr
0.85	RYAHX	Mid Cap 15x	Pair Corr
0.83	RYANX	Nova Fund Class	Pair Corr
0.8	RYAZX	Sp Smallcap 600	Pair Corr
0.73	RYAVX	Sp Midcap 400	Pair Corr
0.91	RYDHX	Dow Jones Industrial	Pair Corr
0.69	RYDCX	Mid Cap 15x	Pair Corr
0.88	RYDKX	Dow Jones Industrial	Pair Corr
0.81	RYCNX	Transportation Fund Class	Pair Corr
0.73	RYCMX	Russell 2000 15x	Pair Corr

Moving against RYCKX Mutual Fund

0.85	RYARX	Inverse Sp 500	Pair Corr
0.81	RYACX	Inverse Nasdaq 100	Pair Corr
0.79	RYAIX	Inverse Nasdaq 100	Pair Corr
0.78	RYAFX	Inverse Russell 2000 Potential Growth	Pair Corr
0.75	RYALX	Inverse Nasdaq 100	Pair Corr
0.56	RYAGX	Inverse Mid Cap	Pair Corr
0.33	RYABX	Government Long Bond	Pair Corr
0.75	RYAPX	Inverse Nasdaq 100	Pair Corr
0.57	RYAUX	Utilities Fund Class	Pair Corr
0.35	RYCGX	Government Long Bond	Pair Corr
0.89	RYCBX	Inverse Sp 500	Pair Corr
0.85	RYCWX	Inverse Dow 2x	Pair Corr
0.81	RYCDX	Rydex Inverse Nasdaq	Pair Corr
0.75	RYCQX	Inverse Russell 2000	Pair Corr
0.55	RYCLX	Inverse Mid Cap	Pair Corr
0.49	RYCAX	Consumer Products	Pair Corr

Related Correlations Analysis

	RYBCX	RYBAX	RYBKX	RYBMX	RYBHX	RYBIX	RYBOX	RYABX	RYACX	RYAIX
RYBCX		0.98	0.34	0.97	0.28	0.93	0.42	0.02	0.02	-0.03	RYBCX
RYBAX	0.98		0.47	1.0	0.41	0.99	0.37	-0.09	-0.1	-0.13	RYBAX
RYBKX	0.34	0.47		0.5	0.81	0.55	0.2	-0.71	-0.5	-0.46	RYBKX
RYBMX	0.97	1.0	0.5		0.44	0.99	0.35	-0.11	-0.12	-0.14	RYBMX
RYBHX	0.28	0.41	0.81	0.44		0.5	0.24	-0.34	-0.81	-0.79	RYBHX
RYBIX	0.93	0.99	0.55	0.99	0.5		0.31	-0.16	-0.18	-0.19	RYBIX
RYBOX	0.42	0.37	0.2	0.35	0.24	0.31		0.06	-0.13	-0.16	RYBOX
RYABX	0.02	-0.09	-0.71	-0.11	-0.34	-0.16	0.06		0.11	0.05	RYABX
RYACX	0.02	-0.1	-0.5	-0.12	-0.81	-0.18	-0.13	0.11		0.99	RYACX
RYAIX	-0.03	-0.13	-0.46	-0.14	-0.79	-0.19	-0.16	0.05	0.99		RYAIX
	RYBCX	RYBAX	RYBKX	RYBMX	RYBHX	RYBIX	RYBOX	RYABX	RYACX	RYAIX

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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

RYBMX	+ 1.0	RYBAX
RYBIX	+ 0.99	RYBAX
RYBIX	+ 0.99	RYBMX
RYAIX	+ 0.99	RYACX
RYBAX	+ 0.98	RYBCX
RYBMX	+ 0.97	RYBCX

High negative correlations

RYACX	- 0.81	RYBHX
RYAIX	- 0.79	RYBHX
RYABX	- 0.71	RYBKX
RYACX	- 0.5	RYBKX
RYAIX	- 0.46	RYBKX
RYABX	- 0.34	RYBHX

Risk-Adjusted Indicators

There is a big difference between RYCKX 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
RYBCX	1.21	(0.12)	0.00	(0.02)	0.00	0.00	2.07	(2.17)	14.04
RYBAX	1.18	(0.09)	(0.03)	0.00	2.11	(1.10)	2.08	(2.16)	12.18
RYBKX	0.84	(0.03)	0.00	0.05	1.48	(0.80)	2.08	(2.82)	7.06
RYBMX	1.17	(0.08)	(0.03)	0.01	2.05	(1.09)	2.08	(2.16)	11.81
RYBHX	0.82	(0.02)	(0.01)	0.05	0.91	(0.91)	1.85	(1.37)	4.56
RYBIX	1.16	(0.07)	(0.02)	0.02	1.92	(1.09)	2.09	(2.16)	10.96
RYBOX	1.05	(0.02)	0.00	0.06	2.80	(0.97)	2.05	(1.50)	16.83
RYABX	0.45	(0.02)	0.00	(0.65)	0.00	0.00	0.92	(1.15)	3.26
RYACX	0.86	(0.03)	0.00	0.10	0.00	0.00	2.07	(2.15)	6.69
RYAIX	0.86	(0.02)	0.00	0.09	0.00	0.00	2.06	(2.14)	6.15

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