Utilities Fund Correlations

Mutual Funds . USA . 
Fund . Utilities Fund Investor
RYUIX Fund  USD 64.82  0.18  0.28%   
The current 90-days correlation between Utilities Fund Investor and Health Care Fund is -0.18 (i.e., Good diversification). The correlation of Utilities Fund 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.

Utilities Fund Correlation With Market

Weak diversification

The correlation between Utilities Fund Investor and DJI is 0.36 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Utilities Fund Investor 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 Utilities Fund Investor. 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 gross domestic product.

Moving together with Utilities Mutual Fund

  0.93D Dominion Energy Earnings Call This WeekPairCorr
  0.85ES Eversource Energy Earnings Call This WeekPairCorr
  0.66HE Hawaiian ElectricPairCorr
  0.76NI NiSource Earnings Call This WeekPairCorr
  0.66SO Southern Earnings Call This WeekPairCorr
  0.83ENLT Enlight Renewable EnergyPairCorr
  0.71AES AES Earnings Call This WeekPairCorr
  0.8AQN Algonquin Power UtilitiesPairCorr
  0.83BEP Brookfield Renewable Earnings Call This WeekPairCorr
  0.65BIP Brookfield Infrastructure Earnings Call This WeekPairCorr
  0.83CEG Constellation Energy CorpPairCorr
  0.64CIG Companhia EnergeticaPairCorr
  0.75DTW DTE EnergyPairCorr

Moving against Utilities Mutual Fund

  0.63WTRG Essential Utilities Earnings Call This WeekPairCorr
  0.6ED Consolidated EdisonPairCorr
  0.47DUKB Duke Energy CorpPairCorr
  0.35FE FirstEnergy Earnings Call TomorrowPairCorr
  0.74EBR Centrais ElectricasPairCorr
  0.71CWT California Water Service Earnings Call This WeekPairCorr
  0.67AVA AvistaPairCorr
  0.64AWR American States WaterPairCorr
  0.54BKH Black Hills Earnings Call This WeekPairCorr
  0.54EDN Empresa DistribuidoraPairCorr
  0.5CPK Chesapeake UtilitiesPairCorr
  0.44EIX Edison InternationalPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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