Regional Bank Correlations

Mutual Funds . USA . 
Fund . Regional Bank Fund
JRBFX Fund  USD 29.75  0.04  0.13%   
The current 90-days correlation between Regional Bank and T Rowe Price is 0.73 (i.e., Poor diversification). The correlation of Regional Bank 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.

Regional Bank Correlation With Market

Poor diversification

The correlation between Regional Bank Fund and DJI is 0.75 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Regional Bank Fund and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Regional Bank 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 census.

Moving together with Regional Mutual Fund

  0.9JQLCX Multimanager LifestylePairCorr
  0.87JAAIX Alternative AssetPairCorr
  0.91JABJX John Hancock FundsPairCorr
  0.92JABPX John Hancock FundsPairCorr
  0.91JSLAX Multimanager LifestylePairCorr
  0.86JSNIX Jhancock Short DurationPairCorr
  0.85JDJRX Jhancock DiversifiedPairCorr
  0.94JDVNX Jhancock DisciplinedPairCorr
  0.94JVMAX John Hancock DisciplinedPairCorr
  0.94JVMIX John Hancock DisciplinedPairCorr
  0.94JVLAX John Hancock DisciplinedPairCorr
  0.9JEMQX John Hancock EmergingPairCorr
  0.9JFIRX Floating Rate IncomePairCorr
  0.91JGECX Jhancock Global EquityPairCorr
  0.63JYEBX Jhancock Real EstatePairCorr
  0.9JGYAX John Hancock GlobalPairCorr
  0.73JHBSX John Hancock BondPairCorr
  0.88USGLX Us Global LeadersPairCorr
  0.93FIDAX Financial IndustriesPairCorr
  0.73JHNBX John Hancock BondPairCorr
  0.86JHSFX John Hancock MunicipalPairCorr
  0.91JILMX Multimanager LifestylePairCorr
  0.64JIREX Real Estate SecuritiesPairCorr
  0.86GOIGX John Hancock InternaPairCorr
  0.89JLAEX Retirement Living ThroughPairCorr
  0.91TAGRX Fundamental Large CapPairCorr
  0.91JLCFX Fundamental Large CapPairCorr
  0.92JLGOX Lifestyle Ii GrowthPairCorr
  0.91JLKLX Retirement Living ThroughPairCorr
  0.96VFAIX Vanguard Financials IndexPairCorr
  1.0FRBCX Regional BankPairCorr
  1.0JRGRX Regional BankPairCorr
  0.95PRISX T Rowe PricePairCorr
  0.93FIDCX Financial IndustriesPairCorr
  0.93JFDRX Financial IndustriesPairCorr
  0.95TFIFX T Rowe PricePairCorr
  0.96DVFYX Davis FinancialPairCorr
  0.96RPFGX Davis FinancialPairCorr
  0.96DFFCX Davis FinancialPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Regional Mutual Fund performing well and Regional Bank 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 Regional Bank'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.

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