Basic Materials Correlations

RYBMX Fund

USD 68.13 0.24 0.35%

The current 90-days correlation between Basic Materials and Basic Materials Fund is 1.0 (i.e., No risk reduction). The correlation of Basic Materials 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.

Basic Materials Correlation With Market

Very poor diversification

The correlation between Basic Materials Fund and DJI is 0.88 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Basic Materials 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 Basic Materials 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 population.

Moving together with Basic Mutual Fund

1.0	RYBCX	Basic Materials	Pair Corr
1.0	RYBAX	Basic Materials	Pair Corr
0.8	RYBKX	Banking Fund Class	Pair Corr
0.84	RYBHX	Sp Midcap 400	Pair Corr
1.0	RYBIX	Basic Materials	Pair Corr
0.83	RYBOX	Biotechnology Fund Class	Pair Corr
0.84	RYAKX	Russell 2000 15x	Pair Corr
0.73	RYAEX	Europe 125x Strategy	Pair Corr
0.87	RYAHX	Mid Cap 15x	Pair Corr
0.78	RYATX	Nasdaq 100 Fund	Pair Corr
0.87	RYANX	Nova Fund Class	Pair Corr
0.83	RYAZX	Sp Smallcap 600	Pair Corr
0.83	RYAWX	Sp 500 Pure	Pair Corr
0.87	RYAVX	Sp Midcap 400	Pair Corr
0.86	RYDHX	Dow Jones Industrial	Pair Corr
0.87	RYDCX	Mid Cap 15x	Pair Corr
0.85	RYDKX	Dow Jones Industrial	Pair Corr
0.72	RYEAX	Energy Fund Class	Pair Corr
0.84	RYECX	Energy Fund Class	Pair Corr
0.83	RYCFX	Biotechnology Fund Class	Pair Corr
0.74	RYCEX	Europe 125x Strategy	Pair Corr
0.8	RYCHX	Technology Fund Class	Pair Corr
0.83	RYCCX	Nasdaq 100 2x	Pair Corr
0.84	RYCNX	Transportation Fund Class	Pair Corr
0.84	RYCMX	Russell 2000 15x	Pair Corr

Moving against Basic Mutual Fund

0.9	RYAGX	Inverse Mid Cap	Pair Corr
0.88	RYAFX	Inverse Russell 2000	Pair Corr
0.86	RYAIX	Inverse Nasdaq 100	Pair Corr
0.86	RYALX	Inverse Nasdaq 100	Pair Corr
0.86	RYAPX	Inverse Nasdaq 100	Pair Corr
0.81	RYARX	Inverse Sp 500	Pair Corr
0.79	RYACX	Inverse Nasdaq 100	Pair Corr
0.9	RYCBX	Inverse Sp 500 Potential Growth	Pair Corr
0.89	RYCLX	Inverse Mid Cap	Pair Corr
0.89	RYCWX	Inverse Dow 2x	Pair Corr
0.89	RYCZX	Inverse Dow 2x	Pair Corr
0.88	RYCQX	Inverse Russell 2000	Pair Corr
0.84	RYCDX	Rydex Inverse Nasdaq	Pair Corr

Related Correlations Analysis

	RYBAX	RYBCX	RYBIX	RYESX	RYENX
RYBAX		1.0	1.0	0.71	0.72	RYBAX
RYBCX	1.0		1.0	0.72	0.73	RYBCX
RYBIX	1.0	1.0		0.71	0.72	RYBIX
RYESX	0.71	0.72	0.71		0.96	RYESX
RYENX	0.72	0.73	0.72	0.96		RYENX
	RYBAX	RYBCX	RYBIX	RYESX	RYENX

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Risk-Adjusted Indicators

There is a big difference between Basic Mutual Fund performing well and Basic Materials 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 Basic Materials' 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
RYBAX	1.19	0.08	(0.03)	2.29	(2.39)	11.21
RYBCX	1.19	0.08	(0.04)	2.29	(2.37)	11.17
RYBIX	1.19	0.08	(0.03)	2.28	(2.38)	11.20
RYESX	2.11	(0.41)	3.94	3.25	(5.54)	21.81
RYENX	1.58	(0.17)	2.12	2.40	(4.09)	15.57

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