Health Care Correlations

RYHEX Fund

USD 106.45 0.59 0.55%

The current 90-days correlation between Health Care Fund and Gmo Global Equity is 0.72 (i.e., Poor diversification). The correlation of Health Care 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.

Health Care Correlation With Market

Poor diversification

The correlation between Health Care Fund and DJI is 0.74 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Health Care 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 Health Care 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 income.

Moving together with Health Mutual Fund

0.72	RYBMX	Basic Materials	Pair Corr
0.64	RYBIX	Basic Materials	Pair Corr
0.66	RYBOX	Biotechnology Fund Class	Pair Corr
0.69	RYDHX	Dow Jones Industrial	Pair Corr
0.85	RYCFX	Biotechnology Fund Class	Pair Corr
0.62	RYCEX	Europe 125x Strategy	Pair Corr

Moving against Health Mutual Fund

0.62	RYAGX	Inverse Mid Cap	Pair Corr
0.57	RYARX	Inverse Sp 500	Pair Corr
0.54	RYAIX	Inverse Nasdaq 100	Pair Corr
0.54	RYALX	Inverse Nasdaq 100	Pair Corr
0.54	RYAPX	Inverse Nasdaq 100	Pair Corr
0.53	RYACX	Inverse Nasdaq 100	Pair Corr
0.52	RYAFX	Inverse Russell 2000	Pair Corr
0.69	RYCQX	Inverse Russell 2000	Pair Corr
0.67	RYCBX	Inverse Sp 500	Pair Corr
0.62	RYCLX	Inverse Mid Cap	Pair Corr
0.62	RYCWX	Inverse Dow 2x	Pair Corr
0.54	RYCZX	Inverse Dow 2x	Pair Corr
0.53	RYCDX	Rydex Inverse Nasdaq	Pair Corr

Related Correlations Analysis

	GMADX	SNPTX	SMYIX	RTIUX	FREIX	JGECX	TSDUX	PMIEX
GMADX		0.99	0.99	0.98	0.96	0.99	0.96	0.97	GMADX
SNPTX	0.99		0.99	0.97	0.98	0.98	0.97	0.96	SNPTX
SMYIX	0.99	0.99		0.98	0.96	0.99	0.96	0.98	SMYIX
RTIUX	0.98	0.97	0.98		0.95	0.99	0.95	1.0	RTIUX
FREIX	0.96	0.98	0.96	0.95		0.97	0.97	0.93	FREIX
JGECX	0.99	0.98	0.99	0.99	0.97		0.96	0.98	JGECX
TSDUX	0.96	0.97	0.96	0.95	0.97	0.96		0.94	TSDUX
PMIEX	0.97	0.96	0.98	1.0	0.93	0.98	0.94		PMIEX
	GMADX	SNPTX	SMYIX	RTIUX	FREIX	JGECX	TSDUX	PMIEX

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Risk-Adjusted Indicators

There is a big difference between Health Mutual Fund performing well and Health Care 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 Health Care'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
GMADX	0.50	0.12	0.09	0.33	0.30	(0.59)	1.41	(1.09)	3.02
SNPTX	0.61	0.11	0.10	0.26	0.45	(0.73)	1.86	(0.94)	4.47
SMYIX	0.55	0.12	0.11	0.30	0.36	(0.65)	1.58	(1.04)	3.63
RTIUX	0.47	0.23	0.15	(4.66)	0.06	(0.58)	1.57	(0.85)	2.99
FREIX	0.55	0.22	0.10	(2.06)	0.40	(0.62)	1.52	(0.95)	4.22
JGECX	0.52	0.20	0.08	(2.83)	0.33	(0.58)	1.49	(1.04)	3.38
TSDUX	0.04	0.01	0.00	10.00	0.00	0.00	0.10	0.00	0.10
PMIEX	0.51	0.23	0.15	(4.58)	0.05	(0.62)	1.40	(0.84)	3.22

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