Biotechnology Fund Correlations

RYBOX Fund

USD 71.18 1.52 2.09%

The current 90-days correlation between Biotechnology Fund Class and Angel Oak Financial is 0.19 (i.e., Average diversification). The correlation of Biotechnology 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.

Biotechnology Fund Correlation With Market

Good diversification

The correlation between Biotechnology Fund Class and DJI is -0.03 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Biotechnology 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 Biotechnology 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 signals in producer price index.

Moving together with Biotechnology Mutual Fund

0.62	RYAEX	Europe 125x Strategy	Pair Corr
0.62	RYAGX	Inverse Mid Cap Potential Growth	Pair Corr
0.68	RYAUX	Utilities Fund Class	Pair Corr
0.62	RYATX	Nasdaq 100 Fund	Pair Corr
0.67	RYDHX	Dow Jones Industrial	Pair Corr
0.65	RYDKX	Dow Jones Industrial	Pair Corr
1.0	RYCFX	Biotechnology Fund Class	Pair Corr
0.62	RYCEX	Europe 125x Strategy	Pair Corr

Moving against Biotechnology Mutual Fund

0.64	RYAWX	Sp 500 Pure	Pair Corr
0.61	RYACX	Inverse Nasdaq 100	Pair Corr
0.59	RYAIX	Inverse Nasdaq 100	Pair Corr
0.59	RYALX	Inverse Nasdaq 100	Pair Corr
0.59	RYAPX	Inverse Nasdaq 100	Pair Corr
0.54	RYARX	Inverse Sp 500	Pair Corr
0.52	RYAVX	Sp Midcap 400	Pair Corr
0.44	RYDCX	Mid Cap 15x	Pair Corr
0.43	RYAHX	Mid Cap 15x	Pair Corr
0.77	RYFNX	Financial Services	Pair Corr
0.76	RYFIX	Financial Services	Pair Corr
0.71	RYCPX	Consumer Products	Pair Corr
0.7	RYCAX	Consumer Products	Pair Corr
0.7	RYCIX	Consumer Products	Pair Corr
0.66	RYCDX	Rydex Inverse Nasdaq	Pair Corr
0.66	RYCZX	Inverse Dow 2x	Pair Corr
0.64	RYCWX	Inverse Dow 2x	Pair Corr
0.6	RYCBX	Inverse Sp 500	Pair Corr

Related Correlations Analysis

	XFINX	DFFCX	SBFAX	GCFSX	FTIXX	FIDCX	ICFAX
XFINX		0.36	0.15	0.28	0.0	0.32	-0.08	XFINX
DFFCX	0.36		0.33	0.92	0.0	0.75	-0.08	DFFCX
SBFAX	0.15	0.33		0.28	0.0	0.82	0.59	SBFAX
GCFSX	0.28	0.92	0.28		0.0	0.67	-0.04	GCFSX
FTIXX	0.0	0.0	0.0	0.0		0.0	0.0	FTIXX
FIDCX	0.32	0.75	0.82	0.67	0.0		0.34	FIDCX
ICFAX	-0.08	-0.08	0.59	-0.04	0.0	0.34		ICFAX
	XFINX	DFFCX	SBFAX	GCFSX	FTIXX	FIDCX	ICFAX

Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

GCFSX	+ 0.92	DFFCX
FIDCX	+ 0.82	SBFAX
FIDCX	+ 0.75	DFFCX
FIDCX	+ 0.67	GCFSX
ICFAX	+ 0.59	SBFAX
DFFCX	+ 0.36	XFINX

High negative correlations

ICFAX	- 0.08	DFFCX
ICFAX	- 0.08	XFINX
ICFAX	- 0.04	GCFSX
ICFAX	- 0.0	FTIXX
FIDCX	- 0.0	FTIXX
FTIXX	- 0.0	GCFSX

Risk-Adjusted Indicators

There is a big difference between Biotechnology Mutual Fund performing well and Biotechnology 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 Biotechnology 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	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
XFINX	0.14	0.00	(0.17)	(0.12)	0.25	(0.16)	0.29	(0.21)	1.44
DFFCX	0.63	0.02	(0.03)	0.17	0.87	(0.68)	1.38	(1.39)	3.95
SBFAX	0.65	(0.14)	0.00	(0.10)	0.00	0.00	1.36	(1.77)	4.82
GCFSX	0.53	0.00	(0.07)	0.04	0.67	(0.58)	1.12	(1.07)	3.47
FTIXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
FIDCX	0.70	(0.03)	0.00	(0.21)	0.00	0.00	1.38	(1.55)	5.52
ICFAX	0.79	(0.25)	0.00	(0.32)	0.00	0.00	1.54	(1.63)	12.30

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