Banking Fund Correlations

RYBKX Fund

USD 103.59 2.14 2.11%

The current 90-days correlation between Banking Fund Class and Transamerica High Yield is 0.27 (i.e., Modest diversification). The correlation of Banking Fund 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.

Banking Fund Correlation With Market

Significant diversification

The correlation between Banking Fund Class and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Banking Fund Class 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 Banking Fund Class. 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 board of governors.

Moving together with Banking Mutual Fund

0.62

RYAHX

Mid Cap 15x

Pair Corr

Moving against Banking Mutual Fund

0.67	RYAUX	Utilities Fund Class	Pair Corr
0.56	RYABX	Government Long Bond	Pair Corr
0.55	RYBOX	Biotechnology Fund Class	Pair Corr
0.55	RYCFX	Biotechnology Fund Class	Pair Corr
0.43	RYAGX	Inverse Mid Cap	Pair Corr
0.41	RYAEX	Europe 125x Strategy	Pair Corr
0.38	RYCEX	Europe 125x Strategy	Pair Corr
0.31	RYATX	Nasdaq 100 Fund	Pair Corr
0.7	RYCUX	Utilities Fund Class	Pair Corr
0.56	RYGBX	Government Long Bond	Pair Corr
0.53	RYCGX	Government Long Bond	Pair Corr
0.47	RYELX	Electronics Fund Class	Pair Corr
0.43	RYCLX	Inverse Mid Cap	Pair Corr
0.39	RYEUX	Europe 125x Strategy	Pair Corr
0.37	RYFTX	Emerging Markets Bond	Pair Corr
0.32	RYCSX	Telecommunications	Pair Corr

Related Correlations Analysis

	TAHFX	GHVIX	VWAHX	CYBAX	BHYRX	RTHAX
TAHFX		0.82	0.77	0.9	0.8	0.75	TAHFX
GHVIX	0.82		0.81	0.87	0.86	0.83	GHVIX
VWAHX	0.77	0.81		0.67	0.74	0.99	VWAHX
CYBAX	0.9	0.87	0.67		0.85	0.68	CYBAX
BHYRX	0.8	0.86	0.74	0.85		0.74	BHYRX
RTHAX	0.75	0.83	0.99	0.68	0.74		RTHAX
	TAHFX	GHVIX	VWAHX	CYBAX	BHYRX	RTHAX

Risk-Adjusted Indicators

There is a big difference between Banking Mutual Fund performing well and Banking Fund 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 Banking Fund'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
TAHFX	0.13	0.01	(0.20)	0.78	0.00	(0.19)	0.24	(0.24)	0.97
GHVIX	0.13	0.01	(0.23)	0.38	0.00	(0.16)	0.28	(0.22)	0.78
VWAHX	0.14	0.07	0.07	16.03	0.00	(0.24)	0.48	(0.19)	0.97
CYBAX	0.12	0.01	(0.30)	0.52	0.03	(0.14)	0.32	(0.24)	0.84
BHYRX	0.14	0.01	(0.18)	0.10	0.00	(0.22)	0.42	(0.28)	0.84
RTHAX	0.12	0.06	0.01	2.67	0.00	(0.21)	0.52	(0.10)	0.96

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