Financial Services Correlations

Mutual Funds . USA . 
Fund . Financial Services Fund
RYFNX Fund  USD 95.00  0.10  0.11%   
The current 90-days correlation between Financial Services and Jpmorgan Diversified Fund is 0.88 (i.e., Very poor diversification). The correlation of Financial Services 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.

Financial Services Correlation With Market

Almost no diversification

The correlation between Financial Services Fund and DJI is 0.9 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Financial Services 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 Financial Services 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 board of governors.

Moving together with Financial Mutual Fund

  0.93RYBCX Basic MaterialsPairCorr
  0.93RYBAX Basic MaterialsPairCorr
  0.99RYBKX Banking Fund ClassPairCorr
  0.93RYBMX Basic MaterialsPairCorr
  0.97RYBHX Sp Midcap 400PairCorr
  0.93RYBIX Basic MaterialsPairCorr
  0.73RYBOX Biotechnology Fund ClassPairCorr
  0.99RYAKX Russell 2000 15xPairCorr
  0.92RYAEX Europe 125x StrategyPairCorr
  0.99RYAHX Mid Cap 15xPairCorr
  0.92RYAUX Utilities Fund ClassPairCorr
  0.98RYATX Nasdaq 100 FundPairCorr
  0.99RYANX Nova Fund ClassPairCorr
  0.97RYAZX Sp Smallcap 600PairCorr
  0.99RYAWX Sp 500 PurePairCorr
  0.97RYAVX Sp Midcap 400 Potential GrowthPairCorr
  0.98RYDHX Dow Jones IndustrialPairCorr
  0.99RYDCX Mid Cap 15xPairCorr
  0.98RYDKX Dow Jones IndustrialPairCorr
  0.88RYEAX Energy Fund ClassPairCorr
  0.87RYECX Energy Fund ClassPairCorr
  0.73RYCFX Biotechnology Fund ClassPairCorr
  0.92RYCEX Europe 125x StrategyPairCorr
  0.98RYCHX Technology Fund ClassPairCorr
  0.98RYCCX Nasdaq 100 2xPairCorr
  0.97RYCNX Transportation Fund ClassPairCorr
  0.99RYCMX Russell 2000 15xPairCorr

Moving against Financial Mutual Fund

  0.99RYAFX Inverse Russell 2000PairCorr
  0.98RYAGX Inverse Mid CapPairCorr
  0.98RYARX Inverse Sp 500PairCorr
  0.97RYACX Inverse Nasdaq 100PairCorr
  0.97RYAIX Inverse Nasdaq 100PairCorr
  0.97RYALX Inverse Nasdaq 100PairCorr
  0.97RYAPX Inverse Nasdaq 100PairCorr
  0.34RYABX Government Long BondPairCorr
  0.99RYCQX Inverse Russell 2000PairCorr
  0.98RYCBX Inverse Sp 500PairCorr
  0.98RYCLX Inverse Mid CapPairCorr
  0.98RYCWX Inverse Dow 2xPairCorr
  0.98RYCZX Inverse Dow 2xPairCorr
  0.97RYCDX Rydex Inverse NasdaqPairCorr
  0.37RYCGX Government Long BondPairCorr
  0.33RYGBX Government Long BondPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Financial Mutual Fund performing well and Financial Services 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 Financial Services' 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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