Health Care Correlations

RYHIX Fund

USD 141.40 0.15 0.11%

The current 90-days correlation between Health Care Fund and Energy Fund Investor is 0.31 (i.e., 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

Modest diversification

The correlation between Health Care Fund and DJI is 0.2 (i.e., Modest 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

0.89	RYBOX	Biotechnology Fund Class	Pair Corr
0.66	RYDKX	Dow Jones Industrial	Pair Corr
0.98	RYCFX	Biotechnology Fund Class	Pair Corr
0.63	RYCEX	Europe 125x Strategy	Pair Corr

Moving against Health Mutual Fund

0.6	RYAWX	Sp 500 Pure	Pair Corr
0.46	RYALX	Inverse Nasdaq 100	Pair Corr
0.46	RYAPX	Inverse Nasdaq 100	Pair Corr
0.37	RYAIX	Inverse Nasdaq 100	Pair Corr
0.35	RYACX	Inverse Nasdaq 100	Pair Corr
0.35	RYARX	Inverse Sp 500	Pair Corr
0.65	RYCWX	Inverse Dow 2x	Pair Corr
0.65	RYCZX	Inverse Dow 2x	Pair Corr
0.56	RYCDX	Rydex Inverse Nasdaq	Pair Corr
0.55	RYCBX	Inverse Sp 500	Pair Corr
0.47	RYFNX	Financial Services	Pair Corr
0.44	RYCAX	Consumer Products	Pair Corr
0.42	RYCRX	Real Estate Fund	Pair Corr
0.39	RYCPX	Consumer Products	Pair Corr

Related Correlations Analysis

	RYEIX	RYFIX	EQCHX	MJSC	GIGRX	RYLCX	GOPIX	JMCGX	RYLIX	SHIIX
RYEIX		0.19	0.28	0.61	0.21	-0.18	0.28	0.42	-0.18	0.46	RYEIX
RYFIX	0.19		0.05	0.42	0.04	0.84	-0.67	0.14	0.84	0.0	RYFIX
EQCHX	0.28	0.05		0.15	0.65	-0.21	0.44	0.79	-0.2	0.8	EQCHX
MJSC	0.61	0.42	0.15		0.28	0.08	0.11	0.54	0.08	0.48	MJSC
GIGRX	0.21	0.04	0.65	0.28		-0.09	0.37	0.59	-0.08	0.64	GIGRX
RYLCX	-0.18	0.84	-0.21	0.08	-0.09		-0.9	-0.22	1.0	-0.39	RYLCX
GOPIX	0.28	-0.67	0.44	0.11	0.37	-0.9		0.48	-0.9	0.64	GOPIX
JMCGX	0.42	0.14	0.79	0.54	0.59	-0.22	0.48		-0.21	0.89	JMCGX
RYLIX	-0.18	0.84	-0.2	0.08	-0.08	1.0	-0.9	-0.21		-0.38	RYLIX
SHIIX	0.46	0.0	0.8	0.48	0.64	-0.39	0.64	0.89	-0.38		SHIIX
	RYEIX	RYFIX	EQCHX	MJSC	GIGRX	RYLCX	GOPIX	JMCGX	RYLIX	SHIIX

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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

RYLIX	+ 1.0	RYLCX
SHIIX	+ 0.89	JMCGX
RYLCX	+ 0.84	RYFIX
RYLIX	+ 0.84	RYFIX
SHIIX	+ 0.8	EQCHX
JMCGX	+ 0.79	EQCHX

High negative correlations

RYLIX	- 0.9	GOPIX
GOPIX	- 0.9	RYLCX
GOPIX	- 0.67	RYFIX
SHIIX	- 0.39	RYLCX
SHIIX	- 0.38	RYLIX
JMCGX	- 0.22	RYLCX

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
RYEIX	0.89	0.05	(0.02)	(0.22)	1.18	(0.83)	1.69	(1.68)	5.33
RYFIX	0.64	(0.08)	0.00	(0.02)	0.00	0.00	1.26	(1.95)	3.87
EQCHX	0.87	0.06	0.05	0.13	0.99	(0.95)	1.77	(1.85)	5.03
MJSC	0.67	(0.01)	(0.06)	0.02	1.03	(0.65)	1.52	(1.28)	5.14
GIGRX	0.72	0.06	(0.01)	0.89	0.87	(0.73)	1.35	(1.60)	3.99
RYLCX	0.68	(0.14)	0.00	(0.10)	0.00	0.00	1.31	(1.46)	3.04
GOPIX	0.63	0.19	0.12	(3.00)	0.43	(0.80)	1.86	(1.41)	4.22
JMCGX	1.33	0.07	0.07	0.11	1.39	(1.43)	2.87	(2.31)	8.14
RYLIX	0.68	(0.14)	0.00	(0.09)	0.00	0.00	1.32	(1.45)	3.04
SHIIX	0.19	0.00	(0.17)	0.06	0.17	(0.24)	0.45	(0.36)	1.19

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