Sp 500 Correlations

Mutual Funds . USA . 
Fund . Sp 500 2x
RYCTX Fund  USD 276.19  4.48  1.60%   
The current 90-days correlation between Sp 500 2x and Massmutual Retiresmart Moderate is 0.97 (i.e., Almost no diversification). The correlation of Sp 500 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.

Sp 500 Correlation With Market

Poor diversification

The correlation between Sp 500 2x 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 Sp 500 2x 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 Sp 500 2x. 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 estimate.

Moving together with RYCTX Mutual Fund

  0.95RYBCX Basic MaterialsPairCorr
  0.95RYBAX Basic MaterialsPairCorr
  0.97RYBKX Banking Fund ClassPairCorr
  0.69RYBMX Basic MaterialsPairCorr
  0.78RYBHX Sp Midcap 400PairCorr
  0.95RYBIX Basic MaterialsPairCorr
  0.76RYBOX Biotechnology Fund ClassPairCorr
  0.77RYAKX Russell 2000 15xPairCorr
  0.75RYAEX Europe 125x StrategyPairCorr
  0.7RYAUX Utilities Fund ClassPairCorr
  1.0RYATX Nasdaq 100 FundPairCorr
  1.0RYANX Nova Fund ClassPairCorr
  0.83RYAZX Sp Smallcap 600PairCorr
  0.67RYAWX Sp 500 PurePairCorr
  0.98RYAVX Sp Midcap 400 Steady GrowthPairCorr
  0.98RYDHX Dow Jones IndustrialPairCorr
  0.78RYDCX Mid Cap 15xPairCorr
  0.79RYDKX Dow Jones IndustrialPairCorr
  0.91RYEAX Energy Fund ClassPairCorr
  0.9RYECX Energy Fund ClassPairCorr
  0.62RYCFX Biotechnology Fund ClassPairCorr
  0.73RYCEX Europe 125x StrategyPairCorr
  0.66RYCHX Technology Fund ClassPairCorr
  1.0RYCCX Nasdaq 100 2xPairCorr
  0.72RYCNX Transportation Fund ClassPairCorr
  0.81RYCMX Russell 2000 15xPairCorr

Moving against RYCTX Mutual Fund

  0.99RYACX Inverse Nasdaq 100PairCorr
  0.99RYAIX Inverse Nasdaq 100PairCorr
  0.99RYALX Inverse Nasdaq 100PairCorr
  0.99RYARX Inverse Sp 500PairCorr
  0.99RYAPX Inverse Nasdaq 100PairCorr
  0.98RYAFX Inverse Russell 2000PairCorr
  0.68RYAGX Inverse Mid CapPairCorr
  0.33RYABX Government Long BondPairCorr
  0.99RYCQX Inverse Russell 2000PairCorr
  0.98RYCDX Rydex Inverse NasdaqPairCorr
  0.72RYCLX Inverse Mid CapPairCorr
  0.71RYCWX Inverse Dow 2xPairCorr
  0.71RYCZX Inverse Dow 2xPairCorr
  0.65RYCBX Inverse Sp 500PairCorr
  0.35RYCGX Government Long BondPairCorr
  0.32RYGBX Government Long BondPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between RYCTX Mutual Fund performing well and Sp 500 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 Sp 500'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.

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