| RYBCX Fund | | | USD 60.06 0.63 1.06% |
The current 90-days correlation between Basic Materials and Basic Materials Fund is 1.0 (i.e., No risk reduction). The correlation of Basic Materials 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.
Basic Materials Correlation With Market
Weak diversification
The correlation between Basic Materials Fund and DJI is 0.32 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Basic Materials Fund and DJI in the same portfolio, assuming nothing else is changed.
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signals in main economic indicators.