Reaves Utility Correlations

UTG Fund

USD 37.15 0.45 1.20%

The current 90-days correlation between Reaves Utility If and Nuveen Amt Free Municipal is 0.14 (i.e., Average diversification). The correlation of Reaves Utility 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.

Reaves Utility Correlation With Market

Weak diversification

The correlation between Reaves Utility If and DJI is 0.37 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Reaves Utility If and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Reaves Utility If. Also, note that the market value of any fund could be closely tied with the direction of predictive economic indicators such as signals in population.

Moving against Reaves Fund

0.52	MFLMX	Blackrock S T	Pair Corr
0.39	FIFGX	Fidelity Sai Inflati	Pair Corr
0.38	HMSFX	Hennessy Bp Midstream	Pair Corr
0.36	NEA	Nuveen Amt Free	Pair Corr
0.31	RIMOX	City National Rochdale	Pair Corr
0.43	QEVOX	Quantified Evolution Plus	Pair Corr
0.36	PSFAX	Short Term Fund	Pair Corr
0.34	OKMUX	Oklahoma Municipal	Pair Corr

Related Correlations Analysis

	JMVCX	JCNCX	JDPNX	JDPRX	JMVAX	JCNRX	NEA	CSQ	BEGRX	JCNIX
JMVCX		-0.03	1.0	0.76	1.0	-0.07	0.08	0.22	0.5	-0.07	JMVCX
JCNCX	-0.03		-0.07	-0.09	-0.07	0.84	-0.68	0.33	-0.64	0.84	JCNCX
JDPNX	1.0	-0.07		0.76	1.0	-0.11	0.14	0.21	0.54	-0.1	JDPNX
JDPRX	0.76	-0.09	0.76		0.75	0.02	0.1	0.46	0.56	0.04	JDPRX
JMVAX	1.0	-0.07	1.0	0.75		-0.11	0.13	0.21	0.54	-0.1	JMVAX
JCNRX	-0.07	0.84	-0.11	0.02	-0.11		-0.62	0.54	-0.6	1.0	JCNRX
NEA	0.08	-0.68	0.14	0.1	0.13	-0.62		-0.09	0.72	-0.62	NEA
CSQ	0.22	0.33	0.21	0.46	0.21	0.54	-0.09		0.0	0.55	CSQ
BEGRX	0.5	-0.64	0.54	0.56	0.54	-0.6	0.72	0.0		-0.6	BEGRX
JCNIX	-0.07	0.84	-0.1	0.04	-0.1	1.0	-0.62	0.55	-0.6		JCNIX
	JMVCX	JCNCX	JDPNX	JDPRX	JMVAX	JCNRX	NEA	CSQ	BEGRX	JCNIX

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

JDPNX	+ 1.0	JMVCX
JMVAX	+ 1.0	JMVCX
JMVAX	+ 1.0	JDPNX
JCNIX	+ 1.0	JCNRX
JCNRX	+ 0.84	JCNCX
JCNIX	+ 0.84	JCNCX

High negative correlations

NEA	- 0.68	JCNCX
BEGRX	- 0.64	JCNCX
JCNIX	- 0.62	NEA
NEA	- 0.62	JCNRX
JCNIX	- 0.6	BEGRX
BEGRX	- 0.6	JCNRX

Risk-Adjusted Indicators

There is a big difference between Reaves Fund performing well and Reaves Utility 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 Reaves Utility'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
JMVCX	0.61	0.01	(0.08)	(0.11)	0.77	(0.63)	1.48	(1.16)	3.55
JCNCX	1.09	(0.17)	0.00	(2.21)	0.00	0.00	1.80	(2.09)	14.33
JDPNX	0.62	0.01	(0.07)	(0.25)	0.77	(0.65)	1.52	(1.14)	3.63
JDPRX	0.62	(0.04)	(0.06)	0.02	0.76	(0.64)	1.51	(1.20)	3.61
JMVAX	0.62	0.01	(0.07)	(0.24)	0.78	(0.65)	1.51	(1.13)	3.60
JCNRX	1.08	(0.22)	0.00	(0.15)	0.00	0.00	1.77	(2.08)	13.42
NEA	0.46	0.07	0.02	0.43	0.37	(0.61)	1.31	(0.95)	2.57
CSQ	0.66	(0.01)	(0.01)	0.06	0.87	(0.71)	1.25	(1.45)	3.87
BEGRX	0.49	0.04	0.02	0.13	0.46	(0.58)	0.98	(0.95)	2.59
JCNIX	1.07	(0.21)	0.00	(0.14)	0.00	0.00	1.81	(2.07)	12.86

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