Health Care Correlations

RYHAX Fund

USD 36.49 0.07 0.19%

The current 90-days correlation between Health Care Fund and Basic Materials Fund is -0.02 (i.e., Good 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

Average diversification

The correlation between Health Care Fund and DJI is 0.14 (i.e., Average 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 nation.

Moving together with Health Mutual Fund

0.76	RYBOX	Biotechnology Fund Class Steady Growth	Pair Corr
0.71	RYCAX	Consumer Products	Pair Corr
0.73	RYCPX	Consumer Products	Pair Corr
0.71	RYCIX	Consumer Products	Pair Corr
0.71	RYPDX	Consumer Products	Pair Corr
0.95	VGHAX	Vanguard Health Care	Pair Corr
0.96	VGHCX	Vanguard Health Care	Pair Corr
0.95	PRHSX	T Rowe Price	Pair Corr
0.95	THISX	T Rowe Price	Pair Corr
0.95	VHCIX	Vanguard Health Care	Pair Corr
0.95	SHISX	Blackrock Health Sciences	Pair Corr
0.95	SHSCX	Blackrock Health Sciences	Pair Corr
0.95	SHSAX	Blackrock Health Sciences	Pair Corr
0.95	SHSSX	Blackrock Health Sciences	Pair Corr
0.75	FSPHX	Health Care Portfolio	Pair Corr
0.66	GAAKX	Gmo Alternative Allo	Pair Corr
0.67	GAAGX	Gmo Alternative Allo	Pair Corr
0.81	GPBFX	Gmo E Plus	Pair Corr
0.7	GPMFX	Guidepath Managed Futures	Pair Corr

Moving against Health Mutual Fund

0.86	RYAQX	Inverse Government Long	Pair Corr
0.81	RYLIX	Leisure Fund Investor	Pair Corr
0.75	RYIHX	Inverse High Yield	Pair Corr
0.66	RYNCX	Nova Fund Class	Pair Corr
0.82	WWNPX	Kinetics Paradigm Steady Growth	Pair Corr
0.82	KMKNX	Kinetics Market Oppo Steady Growth	Pair Corr
0.8	DIS	Walt Disney Aggressive Push	Pair Corr
0.8	CVX	Chevron Corp Sell-off Trend	Pair Corr
0.79	T	ATT Inc Aggressive Push	Pair Corr
0.77	WMT	Walmart Aggressive Push	Pair Corr
0.76	BAC	Bank of America Aggressive Push	Pair Corr
0.76	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.75	TEGYX	Mid Cap Growth	Pair Corr
0.72	FSRBX	Banking Portfolio Banking	Pair Corr

Related Correlations Analysis

	RYBCX	RYBAX	RYBKX	RYBMX	RYBHX	RYBIX	RYBOX	RYABX	RYACX	RYAIX
RYBCX		1.0	0.32	1.0	0.63	1.0	-0.09	-0.53	-0.74	-0.74	RYBCX
RYBAX	1.0		0.33	1.0	0.64	1.0	-0.1	-0.54	-0.75	-0.75	RYBAX
RYBKX	0.32	0.33		0.33	0.8	0.34	-0.46	-0.79	-0.77	-0.76	RYBKX
RYBMX	1.0	1.0	0.33		0.64	1.0	-0.1	-0.54	-0.75	-0.75	RYBMX
RYBHX	0.63	0.64	0.8	0.64		0.64	-0.26	-0.66	-0.89	-0.89	RYBHX
RYBIX	1.0	1.0	0.34	1.0	0.64		-0.1	-0.55	-0.75	-0.75	RYBIX
RYBOX	-0.09	-0.1	-0.46	-0.1	-0.26	-0.1		0.53	0.34	0.33	RYBOX
RYABX	-0.53	-0.54	-0.79	-0.54	-0.66	-0.55	0.53		0.8	0.8	RYABX
RYACX	-0.74	-0.75	-0.77	-0.75	-0.89	-0.75	0.34	0.8		1.0	RYACX
RYAIX	-0.74	-0.75	-0.76	-0.75	-0.89	-0.75	0.33	0.8	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	- 0.89	RYBHX
RYACX	- 0.89	RYBHX
RYABX	- 0.79	RYBKX
RYACX	- 0.77	RYBKX
RYAIX	- 0.76	RYBKX
RYAIX	- 0.75	RYBIX

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
RYBCX	0.78	(0.05)	(0.07)	0.05	0.91	(0.86)	1.73	(1.38)	4.27
RYBAX	0.78	(0.05)	(0.07)	0.06	0.91	(0.86)	1.71	(1.38)	4.29
RYBKX	1.09	0.28	0.14	(1.98)	0.82	(1.39)	2.45	(1.99)	12.77
RYBMX	0.78	(0.05)	(0.07)	0.06	0.91	(0.86)	1.71	(1.38)	4.29
RYBHX	0.81	(0.02)	0.01	0.10	0.98	(0.85)	1.76	(1.38)	5.62
RYBIX	0.78	(0.05)	(0.07)	0.06	0.91	(0.86)	1.72	(1.37)	4.29
RYBOX	0.81	(0.15)	0.00	(0.05)	0.00	0.00	1.51	(1.75)	6.21
RYABX	0.78	(0.06)	0.00	0.30	0.00	0.00	1.64	(1.83)	5.15
RYACX	0.76	0.04	0.00	0.08	0.00	0.00	2.43	(1.55)	5.90
RYAIX	0.76	0.04	0.00	0.07	0.00	0.00	2.50	(1.57)	5.84

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