Regional Bank Correlations

FRBAX Fund  USD 32.91  0.34  1.02%   
The current 90-days correlation between Regional Bank and Global Equity Fund is 0.48 (i.e., Very weak diversification). The correlation of Regional Bank 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.

Regional Bank Correlation With Market

Good diversification

The correlation between Regional Bank Fund and DJI is -0.01 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Regional Bank Fund and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Regional Bank 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 nation.

Moving together with Regional Mutual Fund

  0.93FRBCX Regional BankPairCorr
  0.85JRBFX Regional BankPairCorr
  1.0JRGRX Regional BankPairCorr
  0.61JABDX Jhancock MultimanagerPairCorr

Moving against Regional Mutual Fund

  0.63JABTX John Hancock OpportuPairCorr
  0.54JABYX John Hancock GlobalPairCorr
  0.52JABVX John Hancock GlobalPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Regional Mutual Fund performing well and Regional Bank 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 Regional Bank'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.