Telecommunications Correlations

Mutual Funds USA . 
Fund . Telecommunications Fund Class
RYCSX Fund  USD 43.54  0.48  1.11%   
The current 90-days correlation between Telecommunications and Basic Materials Fund is 0.85 (i.e., Very poor diversification). The correlation of Telecommunications 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.

Telecommunications Correlation With Market

Almost no diversification

The correlation between Telecommunications Fund Class and DJI is 0.91 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Telecommunications 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 Telecommunications 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 state.

Moving together with Telecommunications Mutual Fund

  0.93RYBCX Basic MaterialsPairCorr
  0.93RYBAX Basic MaterialsPairCorr
  0.97RYBKX Banking Fund ClassPairCorr
  0.89RYBMX Basic MaterialsPairCorr
  0.93RYBHX Sp Midcap 400PairCorr
  0.89RYBIX Basic MaterialsPairCorr
  0.75RYBOX Biotechnology Fund ClassPairCorr
  0.93RYAKX Russell 2000 15x Steady GrowthPairCorr
  0.85RYAEX Europe 125x StrategyPairCorr
  0.96RYAHX Mid Cap 15xPairCorr
  0.89RYAUX Utilities Fund ClassPairCorr
  0.96RYATX Nasdaq 100 FundPairCorr
  0.94RYANX Nova Fund ClassPairCorr
  0.97RYAZX Sp Smallcap 600 Steady GrowthPairCorr
  0.95RYAWX Sp 500 PurePairCorr
  0.97RYAVX Sp Midcap 400 Steady GrowthPairCorr
  0.97RYDHX Dow Jones IndustrialPairCorr
  0.96RYDCX Mid Cap 15xPairCorr
  0.91RYDKX Dow Jones IndustrialPairCorr
  0.81RYEAX Energy Fund ClassPairCorr
  0.8RYECX Energy Fund ClassPairCorr
  0.66RYCFX Biotechnology Fund ClassPairCorr
  0.91RYCEX Europe 125x StrategyPairCorr
  0.96RYCHX Technology Fund ClassPairCorr
  0.97RYCCX Nasdaq 100 2xPairCorr
  0.93RYCNX Transportation Fund ClassPairCorr
  0.97RYCMX Russell 2000 15x Steady GrowthPairCorr

Moving against Telecommunications Mutual Fund

  0.94RYACX Inverse Nasdaq 100PairCorr
  0.93RYAIX Inverse Nasdaq 100PairCorr
  0.93RYAPX Inverse Nasdaq 100PairCorr
  0.92RYAFX Inverse Russell 2000PairCorr
  0.92RYARX Inverse Sp 500 Potential GrowthPairCorr
  0.91RYALX Inverse Nasdaq 100PairCorr
  0.89RYAGX Inverse Mid CapPairCorr
  0.41RYABX Government Long BondPairCorr
  0.95RYCWX Inverse Dow 2xPairCorr
  0.95RYCZX Inverse Dow 2xPairCorr
  0.94RYCBX Inverse Sp 500PairCorr
  0.93RYCLX Inverse Mid CapPairCorr
  0.92RYCDX Rydex Inverse NasdaqPairCorr
  0.92RYCQX Inverse Russell 2000PairCorr
  0.36RYCGX Government Long BondPairCorr
  0.34RYGBX Government Long BondPairCorr

Related Correlations Analysis

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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   
RYBAX
+ 1.0
RYBCX
RYBIX
+ 1.0
RYBMX
RYAIX
+ 1.0
RYACX
RYBHX
+ 0.96
RYBKX
RYBIX
+ 0.93
RYBAX
RYBKX
+ 0.92
RYBCX
  
High negative correlations   
RYAIX
- 0.98
RYBHX
RYACX
- 0.98
RYBHX
RYAIX
- 0.95
RYBKX
RYACX
- 0.95
RYBKX
RYAIX
- 0.94
RYBAX
RYACX
- 0.94
RYBAX

Risk-Adjusted Indicators

There is a big difference between Telecommunications Mutual Fund performing well and Telecommunications 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 Telecommunications' 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
RYBCX  1.08  0.04  0.02  0.14  1.68 
(1.02)
 2.06 
(2.03)
 11.17 
RYBAX  1.08  0.05  0.02  0.15  1.68 
(1.00)
 2.05 
(2.04)
 11.21 
RYBKX  1.32  0.11  0.05  0.20  2.10 
(1.33)
 2.43 
(3.04)
 13.13 
RYBMX  1.08  0.16  0.02 (1.68) 1.71 
(1.03)
 2.07 
(2.04)
 11.20 
RYBHX  1.22  0.08  0.05  0.17  1.72 
(1.28)
 2.52 
(2.80)
 14.25 
RYBIX  1.08  0.16  0.02 (1.69) 1.71 
(1.01)
 2.06 
(2.04)
 11.20 
RYBOX  1.45 (0.05)(0.02) 0.05  2.11 
(1.43)
 2.81 
(3.55)
 11.34 
RYABX  0.89 (0.03) 0.00  0.29  0.00 
 0.00 
 1.38 
(2.10)
 4.99 
RYACX  1.24 (0.14) 0.00  0.21  0.00 
 0.00 
 3.06 
(2.59)
 18.13 
RYAIX  1.23 (0.13) 0.00  0.21  0.00 
 0.00 
 3.07 
(2.60)
 18.14 

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