Banking Fund Correlations

RYKAX Fund

USD 86.80 0.83 0.95%

The current 90-days correlation between Banking Fund Class and Goldman Sachs Clean is -0.22 (i.e., Very good diversification). The correlation of Banking 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.

Banking Fund Correlation With Market

Very poor diversification

The correlation between Banking Fund Class and DJI is 0.8 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Banking 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 Banking 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 various price indices.

Moving together with Banking Mutual Fund

0.93	VFAIX	Vanguard Financials Index	Pair Corr
0.99	RPFGX	Davis Financial	Pair Corr
0.79	VSTSX	Vanguard Total Stock	Pair Corr
0.79	VSMPX	Vanguard Total Stock	Pair Corr
0.78	VITSX	Vanguard Total Stock	Pair Corr
0.75	VFFSX	Vanguard 500 Index	Pair Corr
0.74	VFIAX	Vanguard 500 Index	Pair Corr
0.74	VINIX	Vanguard Institutional	Pair Corr
0.78	VTSAX	Vanguard Total Stock	Pair Corr
0.84	CVX	Chevron Corp Fiscal Year End 7th of February 2025	Pair Corr
0.68	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.78	TRV	The Travelers Companies Fiscal Year End 17th of January 2025	Pair Corr
0.73	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.81	JPM	JPMorgan Chase Fiscal Year End 10th of January 2025	Pair Corr

Moving against Banking Mutual Fund

0.7	PFE	Pfizer Inc Aggressive Push	Pair Corr
0.64	MRK	Merck Company Sell-off Trend	Pair Corr
0.47	VTSNX	Vanguard Total Inter	Pair Corr
0.47	VTPSX	Vanguard Total Inter	Pair Corr
0.38	VTISX	Vanguard Total Inter	Pair Corr
0.31	JNJ	Johnson Johnson Fiscal Year End 28th of January 2025	Pair Corr

Related Correlations Analysis

	GCEBX	EPGFX	FGDIX	SGDLX	XGGNX	FRGOX	VGSBX
GCEBX		0.76	0.76	0.71	0.88	0.76	0.7	GCEBX
EPGFX	0.76		0.99	0.98	0.9	0.95	0.42	EPGFX
FGDIX	0.76	0.99		0.99	0.91	0.97	0.48	FGDIX
SGDLX	0.71	0.98	0.99		0.87	0.94	0.44	SGDLX
XGGNX	0.88	0.9	0.91	0.87		0.92	0.62	XGGNX
FRGOX	0.76	0.95	0.97	0.94	0.92		0.49	FRGOX
VGSBX	0.7	0.42	0.48	0.44	0.62	0.49		VGSBX
	GCEBX	EPGFX	FGDIX	SGDLX	XGGNX	FRGOX	VGSBX

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Risk-Adjusted Indicators

There is a big difference between Banking Mutual Fund performing well and Banking 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 Banking 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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
GCEBX	0.73	(0.34)	2.91	1.36	(1.79)	7.66
EPGFX	1.39	(0.19)	(0.69)	2.15	(3.15)	10.21
FGDIX	1.29	(0.22)	(9.12)	2.61	(2.93)	9.33
SGDLX	1.25	(0.15)	(2.18)	2.63	(2.69)	8.32
XGGNX	0.64	(0.17)	(0.73)	0.97	(1.67)	4.75
FRGOX	1.50	(0.40)	3.23	2.43	(3.63)	15.97
VGSBX	0.27	(0.08)	24.78	0.43	(0.75)	1.83

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