Health Care Correlations

RYHIX Fund

USD 45.33 0.28 0.61%

The current 90-days correlation between Health Care Fund and Technology Fund Investor is 0.42 (i.e., Very weak diversification). The correlation of Health Care 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.

Health Care Correlation With Market

Poor diversification

The correlation between Health Care Fund and DJI is 0.71 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Health Care 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 Health Care 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 gross domestic product.

Moving together with HEALTH Mutual Fund

0.62	RYBAX	Basic Materials	Pair Corr
0.82	RYBKX	Banking Fund Class	Pair Corr
0.62	RYBMX	Basic Materials	Pair Corr
0.62	RYBIX	Basic Materials	Pair Corr
0.88	RYBOX	Biotechnology Fund Class	Pair Corr
0.8	RYABX	Government Long Bond	Pair Corr
0.63	RYAHX	Mid Cap 15x	Pair Corr
0.93	RYAUX	Utilities Fund Class	Pair Corr
0.71	RYAZX	Sp Smallcap 600	Pair Corr
0.89	RYDHX	Dow Jones Industrial	Pair Corr
0.62	RYDCX	Mid Cap 15x	Pair Corr
0.85	RYDKX	Dow Jones Industrial	Pair Corr
0.88	RYCFX	Biotechnology Fund Class	Pair Corr
0.78	RYCGX	Government Long Bond	Pair Corr
0.93	RYCAX	Consumer Products	Pair Corr

Moving against HEALTH Mutual Fund

0.75	RYAQX	Inverse Government Long	Pair Corr
0.64	RYAFX	Inverse Russell 2000	Pair Corr
0.62	RYAGX	Inverse Mid Cap Potential Growth	Pair Corr
0.46	RYEAX	Energy Fund Class	Pair Corr
0.46	RYECX	Energy Fund Class	Pair Corr
0.87	RYCZX	Inverse Dow 2x	Pair Corr
0.86	RYCWX	Inverse Dow 2x	Pair Corr
0.65	RYCQX	Inverse Russell 2000	Pair Corr
0.61	RYCLX	Inverse Mid Cap Potential Growth	Pair Corr
0.55	RYELX	Electronics Fund Class	Pair Corr
0.5	RYESX	Energy Services Steady Growth	Pair Corr
0.46	RYEIX	Energy Fund Investor	Pair Corr
0.46	RYENX	Energy Fund Class	Pair Corr

Related Correlations Analysis

	RYTIX	RYFIX	RYPIX	RYKIX	RYMIX
RYTIX		-0.21	0.74	-0.28	-0.32	RYTIX
RYFIX	-0.21		0.22	0.87	0.95	RYFIX
RYPIX	0.74	0.22		0.27	0.04	RYPIX
RYKIX	-0.28	0.87	0.27		0.78	RYKIX
RYMIX	-0.32	0.95	0.04	0.78		RYMIX
	RYTIX	RYFIX	RYPIX	RYKIX	RYMIX

Click cells to compare fundamentals

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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

RYMIX	+ 0.95	RYFIX
RYKIX	+ 0.87	RYFIX
RYMIX	+ 0.78	RYKIX
RYPIX	+ 0.74	RYTIX
RYKIX	+ 0.27	RYPIX
RYPIX	+ 0.22	RYFIX

High negative correlations

RYMIX	- 0.32	RYTIX
RYKIX	- 0.28	RYTIX
RYFIX	- 0.21	RYTIX

Risk-Adjusted Indicators

There is a big difference between HEALTH Mutual Fund performing well and Health Care 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 Health Care'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
RYTIX	1.22	(0.19)	0.00	(0.02)	0.00	0.00	2.80	(3.51)	7.85
RYFIX	0.69	0.07	0.07	0.19	0.76	(0.79)	1.46	(1.42)	4.30
RYPIX	1.11	(0.09)	(0.03)	0.05	1.46	(1.10)	2.48	(2.36)	6.01
RYKIX	1.05	0.22	0.10	0.63	1.15	(1.07)	2.28	(2.18)	6.98
RYMIX	0.72	0.14	0.13	0.25	0.63	(0.83)	1.69	(1.18)	5.45

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