Basic Materials Correlations

Mutual Funds . USA . 
Fund . Basic Materials Fund
RYBMX Fund  USD 64.73  5.43  9.16%   
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

Almost no diversification

The correlation between Basic Materials Fund and DJI is 0.91 (i.e., Almost no 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 population.

Moving together with Basic Mutual Fund

  1.0RYBCX Basic MaterialsPairCorr
  1.0RYBAX Basic MaterialsPairCorr
  0.73RYBKX Banking Fund ClassPairCorr
  1.0RYBIX Basic MaterialsPairCorr
  0.84RYBOX Biotechnology Fund ClassPairCorr
  0.64RYAKX Russell 2000 15xPairCorr
  0.67RYAHX Mid Cap 15xPairCorr
  0.69RYATX Nasdaq 100 FundPairCorr
  0.74RYANX Nova Fund ClassPairCorr
  0.69RYAWX Sp 500 PurePairCorr
  0.69RYAVX Sp Midcap 400PairCorr
  0.82RYDHX Dow Jones IndustrialPairCorr
  0.67RYDCX Mid Cap 15xPairCorr
  0.74RYDKX Dow Jones IndustrialPairCorr
  0.61RYEAX Energy Fund ClassPairCorr
  0.7RYECX Energy Fund ClassPairCorr
  0.83RYCFX Biotechnology Fund ClassPairCorr
  0.69RYCHX Technology Fund ClassPairCorr
  0.67RYCCX Nasdaq 100 2xPairCorr
  0.63RYCMX Russell 2000 15xPairCorr

Moving against Basic Mutual Fund

  0.7RYAIX Inverse Nasdaq 100 Steady GrowthPairCorr
  0.7RYALX Inverse Nasdaq 100 Steady GrowthPairCorr
  0.68RYAGX Inverse Mid Cap Steady GrowthPairCorr
  0.68RYARX Inverse Sp 500 Steady GrowthPairCorr
  0.66RYACX Inverse Nasdaq 100 Steady GrowthPairCorr
  0.65RYAPX Inverse Nasdaq 100 Steady GrowthPairCorr
  0.61RYAFX Inverse Russell 2000 Steady GrowthPairCorr
  0.75RYCWX Inverse Dow 2x Upward RallyPairCorr
  0.75RYCZX Inverse Dow 2x Upward RallyPairCorr
  0.74RYCDX Rydex Inverse Nasdaq Upward RallyPairCorr
  0.7RYCBX Inverse Sp 500 Steady GrowthPairCorr
  0.67RYCLX Inverse Mid Cap Steady GrowthPairCorr
  0.66RYCQX Inverse Russell 2000 Steady GrowthPairCorr

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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