Basic Materials Correlations

Mutual Funds USA . 
Fund . Basic Materials Fund
RYBCX Fund  USD 67.98  0.46  0.68%   
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

Poor diversification

The correlation between Basic Materials Fund and DJI is 0.68 (i.e., Poor 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.
  
Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Basic Materials 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 main economic indicators.

Moving together with Basic Mutual Fund

  1.0RYBAX Basic MaterialsPairCorr
  1.0RYBMX Basic MaterialsPairCorr
  0.65RYBHX Sp Midcap 400PairCorr
  1.0RYBIX Basic MaterialsPairCorr
  0.65RYAHX Mid Cap 15xPairCorr
  0.72RYAUX Utilities Fund ClassPairCorr
  0.72RYATX Nasdaq 100 FundPairCorr
  0.72RYANX Nova Fund ClassPairCorr
  0.72RYAWX Sp 500 PurePairCorr
  0.61RYAVX Sp Midcap 400PairCorr
  0.66RYDHX Dow Jones IndustrialPairCorr
  0.65RYDCX Mid Cap 15xPairCorr
  0.66RYDKX Dow Jones IndustrialPairCorr
  0.71RYCHX Technology Fund ClassPairCorr
  0.72RYCCX Nasdaq 100 2xPairCorr

Moving against Basic Mutual Fund

  0.74RYACX Inverse Nasdaq 100PairCorr
  0.74RYAIX Inverse Nasdaq 100PairCorr
  0.74RYALX Inverse Nasdaq 100PairCorr
  0.74RYARX Inverse Sp 500PairCorr
  0.74RYAPX Inverse Nasdaq 100PairCorr
  0.66RYAGX Inverse Mid CapPairCorr
  0.53RYABX Government Long BondPairCorr
  0.53RYAFX Inverse Russell 2000PairCorr
  0.74RYCBX Inverse Sp 500PairCorr
  0.74RYCDX Rydex Inverse NasdaqPairCorr
  0.67RYCWX Inverse Dow 2xPairCorr
  0.67RYCZX Inverse Dow 2xPairCorr
  0.66RYCLX Inverse Mid CapPairCorr
  0.54RYCGX Government Long BondPairCorr
  0.54RYCQX Inverse Russell 2000PairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Basic Mutual Fund performing well and Basic Materials 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 Basic Materials' 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.

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