Inverse Russell Correlations

RYCQX Fund

USD 90.02 0.04 0.05%

The current 90-days correlation between Inverse Russell 2000 and The Gabelli Small is -0.06 (i.e., Good diversification). The correlation of Inverse Russell 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.

Inverse Russell Correlation With Market

Significant diversification

The correlation between Inverse Russell 2000 and DJI is 0.03 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Inverse Russell 2000 and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Equity Center to better understand how to build diversified portfolios. 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 Inverse Mutual Fund

0.81	RYAFX	Inverse Russell 2000	Pair Corr
0.76	RYAGX	Inverse Mid Cap	Pair Corr
0.76	RYCLX	Inverse Mid Cap	Pair Corr

Moving against Inverse Mutual Fund

0.82	RYAEX	Europe 125x Strategy	Pair Corr
0.81	RYAKX	Russell 2000 15x	Pair Corr
0.72	RYAZX	Sp Smallcap 600	Pair Corr
0.7	RYAHX	Mid Cap 15x	Pair Corr
0.7	RYDCX	Mid Cap 15x	Pair Corr
0.68	RYAVX	Sp Midcap 400	Pair Corr
0.67	RYAWX	Sp 500 Pure	Pair Corr
0.6	RYBMX	Basic Materials	Pair Corr
0.6	RYBIX	Basic Materials	Pair Corr
0.59	RYBAX	Basic Materials	Pair Corr
0.58	RYBCX	Basic Materials	Pair Corr
0.56	RYBHX	Sp Midcap 400	Pair Corr
0.55	RYECX	Energy Fund Class	Pair Corr
0.46	RYBKX	Banking Fund Class	Pair Corr
0.45	RYATX	Nasdaq 100 Fund	Pair Corr
0.45	RYDHX	Dow Jones Industrial	Pair Corr
0.45	RYDKX	Dow Jones Industrial	Pair Corr
0.41	RYANX	Nova Fund Class	Pair Corr
0.38	RYCFX	Biotechnology Fund Class	Pair Corr
0.36	RYBOX	Biotechnology Fund Class	Pair Corr
0.92	RYCKX	Sp Midcap 400	Pair Corr
0.85	RYCSX	Telecommunications	Pair Corr
0.81	RYCMX	Russell 2000 15x	Pair Corr
0.75	RYCHX	Technology Fund Class	Pair Corr
0.63	RYFNX	Financial Services	Pair Corr
0.62	RYFIX	Financial Services	Pair Corr
0.59	RYCEX	Europe 125x Strategy	Pair Corr
0.58	RYELX	Electronics Fund Class	Pair Corr
0.54	RYCNX	Transportation Fund Class	Pair Corr

Related Correlations Analysis

	GABSX	FZABX	ELDFX	PRSVX	USCAX	EKBCX	HRIDX	GSQTX
GABSX		0.84	0.77	0.9	0.89	0.88	0.82	0.87	GABSX
FZABX	0.84		0.84	0.96	0.97	0.96	0.93	0.97	FZABX
ELDFX	0.77	0.84		0.8	0.81	0.9	0.94	0.78	ELDFX
PRSVX	0.9	0.96	0.8		0.98	0.93	0.9	0.99	PRSVX
USCAX	0.89	0.97	0.81	0.98		0.94	0.91	0.97	USCAX
EKBCX	0.88	0.96	0.9	0.93	0.94		0.96	0.92	EKBCX
HRIDX	0.82	0.93	0.94	0.9	0.91	0.96		0.88	HRIDX
GSQTX	0.87	0.97	0.78	0.99	0.97	0.92	0.88		GSQTX
	GABSX	FZABX	ELDFX	PRSVX	USCAX	EKBCX	HRIDX	GSQTX

Risk-Adjusted Indicators

There is a big difference between Inverse Mutual Fund performing well and Inverse Russell 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 Inverse Russell'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
GABSX	0.69	0.12	0.15	0.21	0.42	(0.81)	2.13	(1.07)	5.07
FZABX	0.75	0.28	0.31	0.62	0.17	(0.91)	1.37	(1.30)	13.58
ELDFX	0.42	0.10	0.10	0.34	0.04	(0.48)	0.77	(0.72)	5.55
PRSVX	0.92	0.18	0.24	0.21	0.55	(1.11)	1.67	(1.30)	13.81
USCAX	0.86	0.15	0.14	0.24	0.69	(1.00)	2.03	(1.71)	6.91
EKBCX	0.91	0.25	0.20	0.38	0.73	(1.04)	1.77	(1.90)	10.58
HRIDX	0.61	0.13	0.16	0.26	0.36	(0.74)	1.29	(1.04)	6.08
GSQTX	1.32	0.38	0.50	0.26	0.00	(1.68)	2.21	(1.65)	30.93

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