Energy Fund Correlations

RYENX Fund

USD 240.97 0.55 0.23%

The current 90-days correlation between Energy Fund Class and Basic Materials Fund is 0.73 (i.e., Poor diversification). The correlation of Energy 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.

Energy Fund Correlation With Market

Poor diversification

The correlation between Energy Fund Class and DJI is 0.7 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Energy 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 Energy 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 Energy Mutual Fund

0.84	RYBHX	Sp Midcap 400	Pair Corr
0.79	RYAQX	Inverse Government Long	Pair Corr
1.0	RYEAX	Energy Fund Class	Pair Corr
0.92	RYECX	Energy Fund Class	Pair Corr
0.65	RYCHX	Technology Fund Class	Pair Corr
0.61	RYCCX	Nasdaq 100 2x	Pair Corr

Moving against Energy Mutual Fund

0.81	RYABX	Government Long Bond	Pair Corr
0.66	RYAUX	Utilities Fund Class	Pair Corr
0.57	RYAIX	Inverse Nasdaq 100	Pair Corr
0.57	RYALX	Inverse Nasdaq 100	Pair Corr
0.56	RYACX	Inverse Nasdaq 100	Pair Corr
0.56	RYAPX	Inverse Nasdaq 100	Pair Corr
0.36	RYARX	Inverse Sp 500	Pair Corr
0.33	RYAGX	Inverse Mid Cap Potential Growth	Pair Corr
0.8	RYCGX	Government Long Bond	Pair Corr
0.72	RYCPX	Consumer Products	Pair Corr
0.7	RYCIX	Consumer Products	Pair Corr
0.69	RYCAX	Consumer Products	Pair Corr
0.66	RYCUX	Utilities Fund Class	Pair Corr
0.59	RYCRX	Real Estate Fund	Pair Corr
0.56	RYCSX	Telecommunications	Pair Corr
0.5	RYCDX	Rydex Inverse Nasdaq	Pair Corr
0.34	RYCLX	Inverse Mid Cap Potential Growth	Pair Corr

Related Correlations Analysis

	RYBCX	RYBAX	RYBKX	RYBMX	RYBHX	RYBIX	RYBOX	RYABX	RYACX	RYAIX
RYBCX		1.0	0.77	1.0	0.61	1.0	0.78	0.19	-0.29	-0.28	RYBCX
RYBAX	1.0		0.78	1.0	0.6	1.0	0.79	0.21	-0.28	-0.27	RYBAX
RYBKX	0.77	0.78		0.78	0.12	0.78	0.91	0.45	0.15	0.17	RYBKX
RYBMX	1.0	1.0	0.78		0.6	1.0	0.79	0.21	-0.28	-0.27	RYBMX
RYBHX	0.61	0.6	0.12	0.6		0.59	0.12	-0.58	-0.71	-0.72	RYBHX
RYBIX	1.0	1.0	0.78	1.0	0.59		0.79	0.21	-0.28	-0.27	RYBIX
RYBOX	0.78	0.79	0.91	0.79	0.12	0.79		0.52	0.14	0.16	RYBOX
RYABX	0.19	0.21	0.45	0.21	-0.58	0.21	0.52		0.45	0.47	RYABX
RYACX	-0.29	-0.28	0.15	-0.28	-0.71	-0.28	0.14	0.45		1.0	RYACX
RYAIX	-0.28	-0.27	0.17	-0.27	-0.72	-0.27	0.16	0.47	1.0		RYAIX
	RYBCX	RYBAX	RYBKX	RYBMX	RYBHX	RYBIX	RYBOX	RYABX	RYACX	RYAIX

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

RYBAX	+ 1.0	RYBCX
RYBMX	+ 1.0	RYBCX
RYBIX	+ 1.0	RYBCX
RYBMX	+ 1.0	RYBAX
RYBIX	+ 1.0	RYBAX
RYBIX	+ 1.0	RYBMX

High negative correlations

RYAIX	- 0.72	RYBHX
RYACX	- 0.71	RYBHX
RYABX	- 0.58	RYBHX
RYACX	- 0.29	RYBCX
RYACX	- 0.28	RYBIX
RYACX	- 0.28	RYBMX

Risk-Adjusted Indicators

There is a big difference between Energy Mutual Fund performing well and Energy 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 Energy 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
RYBCX	0.92	(0.06)	(0.03)	0.07	1.15	(0.99)	1.86	(1.62)	5.41
RYBAX	0.92	(0.06)	(0.02)	0.07	1.15	(0.99)	1.86	(1.61)	5.38
RYBKX	1.07	0.09	0.09	0.18	1.16	(1.09)	2.27	(2.19)	7.00
RYBMX	0.92	(0.06)	(0.02)	0.07	1.15	(0.99)	1.85	(1.61)	5.40
RYBHX	1.09	(0.16)	(0.08)	0.00	1.47	(1.16)	2.17	(2.93)	6.58
RYBIX	0.92	(0.05)	(0.02)	0.07	1.15	(0.99)	1.85	(1.61)	5.40
RYBOX	0.80	0.03	0.02	0.15	0.76	(0.96)	1.88	(1.54)	4.78
RYABX	0.83	0.10	(0.03)	(0.59)	0.99	(0.87)	1.61	(1.72)	6.19
RYACX	1.09	0.01	(0.08)	0.85	1.23	(1.41)	2.87	(2.46)	6.71
RYAIX	1.09	0.01	(0.07)	0.77	1.23	(1.41)	2.92	(2.48)	6.66

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