Ring modulator question.

Hello there,

I am new to the forum (fresh meat) and firstly i’d like to thank thy for the great support that provides to everyone. Every query that i’ve had, from the time i started using cubase, was solved without having to ask any question! Thanks!

So my first question here concerns the default Ring modulator that Cubase 7.0.7 holds (i guess its the same for many versions). Does anyone knows to which frequencies does the “frequency” parameter knob refers to?
e.g. setting it to 50% which range of frequencies (or which frequency) does it affect?