Energy Services Correlations

RYVIX Fund

USD 253.29 8.19 3.34%

The correlation of Energy Services 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.

Energy Services Correlation With Market

Weak diversification

The correlation between Energy Services Fund and DJI is 0.35 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Energy Services Fund 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 Energy Services Fund. 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 gross domestic product.

For more information on how to buy Energy Mutual Fund please use our How to Invest in Energy Services guide.

Moving together with Energy Mutual Fund

0.67	VGELX	Vanguard Energy	Pair Corr
0.67	VGENX	Vanguard Energy	Pair Corr
0.75	VENAX	Vanguard Energy Index	Pair Corr
0.82	FSENX	Fidelity Select Port	Pair Corr
0.79	FNARX	Fidelity Natural Res	Pair Corr
0.86	IENIX	Invesco Energy	Pair Corr
0.65	PQTAX	Pimco Trends Managed	Pair Corr
0.65	PQTNX	Pimco Trends Managed	Pair Corr
0.65	PQTIX	Aa Pimco Tr	Pair Corr
0.76	LTEBX	Limited Term Tax	Pair Corr
0.67	BXFCX	Barings Global Floating	Pair Corr
0.63	GICAX	Goldman Sachs Intern	Pair Corr
0.67	JRARX	Janus Henderson Research	Pair Corr
0.62	FCNTX	Fidelity Contrafund	Pair Corr
0.62	TRMIX	T Rowe Price	Pair Corr
0.76	ALAYX	Invesco Income Allocation	Pair Corr

Related Correlations Analysis

	RSVIX	CNPIX	DUMSX	RYPIX	WAISX	SGRT	RYWAX	WTMY	WTMU	RYRIX
RSVIX		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	RSVIX
CNPIX	0.0		-0.24	0.18	0.28	-0.07	0.52	-0.24	-0.07	0.4	CNPIX
DUMSX	0.0	-0.24		0.53	-0.52	0.1	0.23	0.91	0.83	0.31	DUMSX
RYPIX	0.0	0.18	0.53		-0.12	0.55	0.79	0.52	0.77	0.76	RYPIX
WAISX	0.0	0.28	-0.52	-0.12		0.52	0.27	-0.38	-0.35	0.34	WAISX
SGRT	0.0	-0.07	0.1	0.55	0.52		0.66	0.16	0.25	0.73	SGRT
RYWAX	0.0	0.52	0.23	0.79	0.27	0.66		0.23	0.43	0.92	RYWAX
WTMY	0.0	-0.24	0.91	0.52	-0.38	0.16	0.23		0.9	0.33	WTMY
WTMU	0.0	-0.07	0.83	0.77	-0.35	0.25	0.43	0.9		0.47	WTMU
RYRIX	0.0	0.4	0.31	0.76	0.34	0.73	0.92	0.33	0.47		RYRIX
	RSVIX	CNPIX	DUMSX	RYPIX	WAISX	SGRT	RYWAX	WTMY	WTMU	RYRIX

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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	+ 0.91	DUMSX
WTMU	+ 0.9	WTMY
WTMU	+ 0.83	DUMSX
RYWAX	+ 0.79	RYPIX
WTMU	+ 0.77	RYPIX

High negative correlations

WAISX	- 0.52	DUMSX
WTMY	- 0.38	WAISX
WTMU	- 0.35	WAISX
WTMY	- 0.24	CNPIX
DUMSX	- 0.24	CNPIX
WAISX	- 0.12	RYPIX

Risk-Adjusted Indicators

There is a big difference between Energy Mutual Fund performing well and Energy Services 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 Energy Services' 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
RSVIX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
CNPIX	0.86	(0.01)	(0.07)	0.01	1.04	(0.94)	2.04	(1.52)	5.79
DUMSX	0.06	0.01	(0.45)	(3.39)	0.00	(0.17)	0.18	(0.09)	0.54
RYPIX	0.90	0.16	0.14	0.24	0.86	(1.01)	1.97	(1.62)	4.62
WAISX	0.51	(0.07)	0.00	(0.06)	0.00	0.00	1.01	(1.31)	2.82
SGRT	1.68	0.03	0.03	0.10	2.50	(1.49)	3.33	(4.05)	11.43
RYWAX	0.88	0.02	0.02	0.10	0.99	(0.97)	1.60	(1.62)	4.54
WTMY	0.07	0.01	(0.80)	1.29	0.00	(0.09)	0.16	(0.08)	0.39
WTMU	0.06	0.02	(0.60)	1.07	0.00	(0.08)	0.15	(0.12)	0.35
RYRIX	0.76	0.06	0.06	0.14	0.72	(0.87)	1.98	(1.22)	4.54

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