Mid Cap Correlations

RYDCX Fund

USD 112.45 0.25 0.22%

The current 90-days correlation between Mid Cap 15x and Basic Materials Fund is 0.63 (i.e., Poor diversification). The correlation of Mid Cap 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.

Mid Cap Correlation With Market

Very poor diversification

The correlation between Mid Cap 15x Strategy and DJI is 0.81 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mid Cap 15x Strategy 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 Mid Cap 15x Strategy. 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 persons.

Moving together with Mid Mutual Fund

0.65	RYBAX	Basic Materials	Pair Corr
0.68	RYBKX	Banking Fund Class	Pair Corr
0.84	RYBHX	Sp Midcap 400	Pair Corr
0.71	RYBIX	Basic Materials	Pair Corr
0.91	RYAKX	Russell 2000 15x	Pair Corr
0.82	RYAHX	Mid Cap 15x	Pair Corr
0.94	RYAZX	Sp Smallcap 600	Pair Corr
0.93	RYAVX	Sp Midcap 400	Pair Corr
0.69	RYDHX	Dow Jones Industrial	Pair Corr
0.7	RYDKX	Dow Jones Industrial	Pair Corr
0.87	RYCNX	Transportation Fund Class	Pair Corr
0.91	RYCMX	Russell 2000 15x	Pair Corr

Moving against Mid Mutual Fund

0.8	RYAFX	Inverse Russell 2000 Potential Growth	Pair Corr
0.68	RYARX	Inverse Sp 500	Pair Corr
0.6	RYALX	Inverse Nasdaq 100	Pair Corr
0.55	RYAPX	Inverse Nasdaq 100	Pair Corr
0.51	RYAGX	Inverse Mid Cap Potential Growth	Pair Corr
0.43	RYACX	Inverse Nasdaq 100	Pair Corr
0.41	RYAIX	Inverse Nasdaq 100	Pair Corr
0.39	RYAUX	Utilities Fund Class	Pair Corr
0.7	RYCBX	Inverse Sp 500	Pair Corr
0.69	RYCQX	Inverse Russell 2000 Potential Growth	Pair Corr
0.68	RYCWX	Inverse Dow 2x	Pair Corr
0.67	RYCZX	Inverse Dow 2x	Pair Corr
0.58	RYCDX	Rydex Inverse Nasdaq	Pair Corr
0.45	RYCLX	Inverse Mid Cap	Pair Corr
0.39	RYCUX	Utilities Fund Class	Pair Corr
0.31	RYCGX	Government Long Bond	Pair Corr

Related Correlations Analysis

	RYBCX	RYBAX	RYBKX	RYBMX	RYBHX	RYBIX	RYBOX	RYABX	RYACX	RYAIX
RYBCX		0.98	0.26	0.76	0.28	0.93	0.33	0.08	0.05	0.02	RYBCX
RYBAX	0.98		0.4	0.8	0.41	0.99	0.3	-0.03	-0.04	-0.06	RYBAX
RYBKX	0.26	0.4		0.51	0.72	0.48	0.22	-0.71	-0.47	-0.43	RYBKX
RYBMX	0.76	0.8	0.51		0.33	0.8	0.35	-0.11	-0.12	-0.15	RYBMX
RYBHX	0.28	0.41	0.72	0.33		0.5	0.25	-0.24	-0.66	-0.62	RYBHX
RYBIX	0.93	0.99	0.48	0.8	0.5		0.26	-0.1	-0.1	-0.1	RYBIX
RYBOX	0.33	0.3	0.22	0.35	0.25	0.26		0.07	-0.17	-0.2	RYBOX
RYABX	0.08	-0.03	-0.71	-0.11	-0.24	-0.1	0.07		0.07	0.01	RYABX
RYACX	0.05	-0.04	-0.47	-0.12	-0.66	-0.1	-0.17	0.07		0.99	RYACX
RYAIX	0.02	-0.06	-0.43	-0.15	-0.62	-0.1	-0.2	0.01	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

RYBIX	+ 0.99	RYBAX
RYAIX	+ 0.99	RYACX
RYBAX	+ 0.98	RYBCX
RYBIX	+ 0.93	RYBCX
RYBMX	+ 0.8	RYBAX
RYBIX	+ 0.8	RYBMX

High negative correlations

RYABX	- 0.71	RYBKX
RYACX	- 0.66	RYBHX
RYAIX	- 0.62	RYBHX
RYACX	- 0.47	RYBKX
RYAIX	- 0.43	RYBKX
RYABX	- 0.24	RYBHX

Risk-Adjusted Indicators

There is a big difference between Mid Mutual Fund performing well and Mid Cap 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 Mid Cap'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	0.83	0.04	(0.01)	0.20	1.46	(0.81)	2.08	(2.82)	7.06
RYBMX	1.18	(0.03)	(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	1.06	0.03	(0.01)	0.19	2.76	(0.98)	2.05	(1.50)	16.83
RYABX	0.46	(0.03)	0.00	(0.07)	0.00	0.00	0.92	(1.15)	3.26
RYACX	0.87	(0.08)	0.00	0.93	0.00	0.00	2.07	(2.15)	6.69
RYAIX	0.87	(0.07)	0.00	0.66	0.00	0.00	2.06	(2.14)	6.15

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