Royce Opportunity Correlations

Mutual Funds . USA . 
Fund . Royce Opportunity Fund
ROFCX Fund  USD 11.79  0.11  0.92%   
The current 90-days correlation between Royce Opportunity and Royce Opportunity Fund is 1.0 (i.e., No risk reduction). The correlation of Royce Opportunity 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 Opportunity Correlation With Market

Poor diversification

The correlation between Royce Opportunity Fund and DJI is 0.77 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Royce Opportunity 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 Royce Opportunity 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 main economic indicators.

Moving together with Royce Mutual Fund

  1.0ROFIX Royce OpportunityPairCorr
  0.99RPRCX Royce PremierPairCorr
  0.98RSEIX Royce Special EquityPairCorr
  0.98RSQCX Royce Special EquityPairCorr
  0.99RYMCX Royce Micro CapPairCorr
  1.0RYPCX Royce Pennsylvania MutualPairCorr
  0.98RYTCX Royce Total ReturnPairCorr
  0.99VSIIX Vanguard Small CapPairCorr
  0.99VISVX Vanguard Small CapPairCorr
  0.99DFSVX Us Small CapPairCorr
  0.99DFFVX Us Targeted ValuePairCorr
  0.97UBVCX Undiscovered ManagersPairCorr
  0.95UBVAX Undiscovered ManagersPairCorr
  0.95UBVSX Undiscovered ManagersPairCorr
  0.99AVFIX American Beacon SmallPairCorr
  0.97VTSAX Vanguard Total StockPairCorr
  0.99VFIAX Vanguard 500 IndexPairCorr
  0.97VTSMX Vanguard Total StockPairCorr
  0.97VSMPX Vanguard Total StockPairCorr
  0.97VSTSX Vanguard Total StockPairCorr
  0.99VITSX Vanguard Total StockPairCorr
  0.99VFINX Vanguard 500 IndexPairCorr
  0.97VFFSX Vanguard 500 IndexPairCorr
  0.96VGTSX Vanguard Total InterPairCorr
  0.96VTIAX Vanguard Total InterPairCorr
  0.97FBKFX Fidelity BalancedPairCorr
  0.99DOPIX Dreyfus OpportunisticPairCorr
  0.98LTTKX Mfs Lifetime 2025PairCorr
  0.99MAANX Mutual Of AmericaPairCorr
  0.99FLMFX Muirfield Fund RetailPairCorr
  0.97SMGAX Saat Servative StrategyPairCorr
  0.99GSPQX Goldman Sachs EquityPairCorr
  0.97RIV Rivernorth OpportunitiesPairCorr
  0.8PCIMX California IntermediatePairCorr
  0.99LEKKX Blackrock Lifepath EsgPairCorr
  0.97SMHYX Aim Counselor SeriesPairCorr
  0.73PINFX Invesco Multi AssetPairCorr
  0.77PRVDX Versatile Bond PortfolioPairCorr
  0.88PARTX Putman Absolute ReturnPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Royce Mutual Fund performing well and Royce Opportunity 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 Opportunity'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
ROFCX  1.05  0.19  0.18  0.30  0.81 
(1.29)
 2.71 
(1.69)
 7.01 
ROFIX  1.05  0.20  0.18  0.30  0.79 
(1.30)
 2.70 
(1.69)
 7.08 
ROFRX  1.05  0.19  0.18  0.30  0.78 
(1.29)
 2.69 
(1.64)
 7.02 
RPFIX  0.93  0.09  0.10  0.22  0.80 
(1.08)
 2.36 
(1.68)
 6.73 
RPRCX  0.92  0.09  0.09  0.21  0.84 
(1.05)
 2.35 
(1.69)
 6.60 
RSEIX  0.86  0.06  0.05  0.20  0.76 
(1.02)
 2.41 
(1.72)
 4.95 
RSQCX  0.87  0.05  0.04  0.19  0.77 
(1.02)
 2.40 
(1.65)
 4.95 
RTRRX  0.93  0.07  0.07  0.20  0.85 
(1.09)
 2.42 
(2.02)
 6.83 
RVPIX  0.87  0.16  0.14  0.30  0.74 
(1.06)
 2.26 
(1.50)
 4.98 
RYMCX  1.03  0.21  0.20  0.32  0.71 
(1.23)
 2.74 
(1.81)
 5.91 

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