Royce Dividend Correlations

Mutual Funds . USA . 
Fund . Royce Dividend Value
RDVIX Fund  USD 6.09  0.03  0.49%   
The current 90-days correlation between Royce Dividend Value and Royce Premier Fund is -0.16 (i.e., Good diversification). The correlation of Royce Dividend 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.

Royce Dividend Correlation With Market

Good diversification

The correlation between Royce Dividend Value and DJI is -0.2 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Royce Dividend Value 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 Royce Dividend Value. 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 Royce Mutual Fund

  0.97RPFFX Royce PremierPairCorr
  0.99RSEFX Royce Special EquityPairCorr
  0.97RVPHX Royce Smaller CompaniesPairCorr
  0.71RVVHX Royce Small CapPairCorr
  0.97RYDVX Royce Dividend ValuePairCorr
  0.97RYOFX Royce OpportunityPairCorr
  0.97RYOTX Royce Micro CapPairCorr
  0.97RYPFX Royce Pennsylvania MutualPairCorr
  0.97RYPRX Royce PremierPairCorr
  0.97RYPNX Royce OpportunityPairCorr
  0.99RYSEX Royce Special EquityPairCorr
  0.96RYTFX Royce Total ReturnPairCorr
  0.99RYTRX Royce Total ReturnPairCorr
  0.95RYVFX Royce Small CapPairCorr
  0.96RYVPX Royce Smaller CompaniesPairCorr
  0.94RIPNX Royce InternationalPairCorr
  0.94RIPIX Royce InternationalPairCorr
  0.97PENNX Royce Pennsylvania MutualPairCorr
  0.97VIMAX Vanguard Mid CapPairCorr
  0.99VIMSX Vanguard Mid CapPairCorr
  0.97VMCPX Vanguard Mid CapPairCorr
  0.97VMCIX Vanguard Mid CapPairCorr
  0.97VEXAX Vanguard Extended MarketPairCorr
  0.97VEMPX Vanguard Extended MarketPairCorr
  0.99VIEIX Vanguard Extended MarketPairCorr
  0.97VSEMX Vanguard Extended MarketPairCorr
  0.97VEXMX Vanguard Extended MarketPairCorr
  0.98FSMAX Fidelity Extended MarketPairCorr
  0.89FSMMX Fs Multi StrategyPairCorr
  0.94BTMPX Ishares Msci EafePairCorr
  0.94BTMKX Blackrock InternationalPairCorr
  0.92MDIIX Blackrock Intern IndexPairCorr
  0.68SPMPX Invesco Steelpath MlpPairCorr
  0.68MLPNX Oppenheimer Steelpath MlpPairCorr
  0.66MLPMX Oppenheimer Steelpath MlpPairCorr
  0.68SPMJX Invesco Steelpath MlpPairCorr
  0.87PSGCX Virtus Kar SmallPairCorr
  0.98AABHX American Century OnePairCorr
  0.71WVCCX Aberdeen Gbl SmallPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Royce Mutual Fund performing well and Royce Dividend 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 Royce Dividend'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
RPFFX  0.93  0.09  0.09  0.22  0.81 
(1.08)
 2.39 
(1.68)
 6.82 
RSEFX  0.85  0.22  0.07 (1.03) 0.74 
(1.00)
 2.39 
(1.70)
 4.98 
RDVIX  0.87  0.29  0.13 (1.04) 0.67 
(1.04)
 2.29 
(1.63)
 6.38 
RVPHX  0.86  0.32  0.16 (2.65) 0.74 
(1.05)
 2.29 
(1.53)
 5.06 
RVVHX  0.94  0.30  0.14 (2.63) 0.77 
(1.16)
 2.45 
(1.50)
 6.36 
RYDVX  0.87  0.10  0.10  0.23  0.71 
(1.13)
 2.35 
(1.71)
 6.44 
RYIPX  0.49  0.22  0.17  4.33  0.00 
(0.61)
 1.16 
(0.81)
 2.92 
RYOFX  1.05  0.20  0.18  0.30  0.80 
(1.26)
 2.65 
(1.63)
 7.08 
RYOTX  1.03  0.21  0.20  0.32  0.72 
(1.24)
 2.75 
(1.82)
 5.93 
RYPFX  0.87  0.11  0.11  0.24  0.71 
(1.12)
 2.50 
(1.83)
 6.28 

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