Utilities Fund Correlations

RYCUX Fund

USD 41.25 0.33 0.79%

The current 90-days correlation between Utilities Fund Class and Basic Materials Fund is -0.28 (i.e., Very 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 Class and DJI is 0.31 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Utilities Fund Class 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 Class. 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 employment.

Moving together with Utilities Mutual Fund

0.63	ED	Consolidated Edison	Pair Corr
0.74	ES	Eversource Energy Sell-off Trend	Pair Corr
0.69	HE	Hawaiian Electric	Pair Corr
0.61	NI	NiSource	Pair Corr
0.73	SR	Spire Inc	Pair Corr
0.73	DUKB	Duke Energy Corp	Pair Corr
0.69	ELPC	Companhia Paranaense	Pair Corr
0.62	EVRG	Evergy,	Pair Corr
0.75	AEE	Ameren Corp Sell-off Trend	Pair Corr
0.66	ALE	Allete Inc	Pair Corr
0.73	AQN	Algonquin Power Utilities	Pair Corr
0.62	ATO	Atmos Energy	Pair Corr
0.67	BKH	Black Hills	Pair Corr
0.7	CMS	CMS Energy	Pair Corr
0.62	CNP	CenterPoint Energy Sell-off Trend	Pair Corr
0.72	DTE	DTE Energy	Pair Corr
0.65	DTW	DTE Energy	Pair Corr

Moving against Utilities Mutual Fund

0.53	RNWWW	ReNew Energy Global	Pair Corr
0.43	ELLO	Ellomay Capital Earnings Call This Week	Pair Corr
0.58	XIFR	XPLR Infrastructure Symbol Change	Pair Corr
0.56	NFE	New Fortress Energy Buyout Trend	Pair Corr

Related Correlations Analysis

	RYBCX	RYBAX	RYBKX	RYBMX	RYBHX	RYBIX	RYBOX	RYABX	RYAIX
RYBCX		1.0	0.57	1.0	0.18	1.0	0.74	0.28	-0.23	RYBCX
RYBAX	1.0		0.55	1.0	0.16	1.0	0.75	0.29	-0.21	RYBAX
RYBKX	0.57	0.55		0.55	0.85	0.55	0.35	-0.34	-0.86	RYBKX
RYBMX	1.0	1.0	0.55		0.16	1.0	0.75	0.29	-0.21	RYBMX
RYBHX	0.18	0.16	0.85	0.16		0.16	-0.06	-0.71	-0.91	RYBHX
RYBIX	1.0	1.0	0.55	1.0	0.16		0.75	0.3	-0.2	RYBIX
RYBOX	0.74	0.75	0.35	0.75	-0.06	0.75		0.46	-0.11	RYBOX
RYABX	0.28	0.29	-0.34	0.29	-0.71	0.3	0.46		0.54	RYABX
RYAIX	-0.23	-0.21	-0.86	-0.21	-0.91	-0.2	-0.11	0.54		RYAIX
	RYBCX	RYBAX	RYBKX	RYBMX	RYBHX	RYBIX	RYBOX	RYABX	RYAIX

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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

RYBAX	+ 1.0	RYBCX
RYBMX	+ 1.0	RYBCX
RYBIX	+ 1.0	RYBCX
RYBMX	+ 1.0	RYBAX
RYBIX	+ 1.0	RYBAX
RYBIX	+ 1.0	RYBMX

High negative correlations

RYAIX	- 0.91	RYBHX
RYAIX	- 0.86	RYBKX
RYABX	- 0.71	RYBHX
RYABX	- 0.34	RYBKX
RYAIX	- 0.23	RYBCX
RYAIX	- 0.21	RYBMX

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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
RYBCX	0.77	0.06	0.09	(0.35)	0.98	(0.74)	1.40	(1.45)	5.63
RYBAX	0.77	0.06	0.09	(0.37)	1.00	(0.74)	1.38	(1.47)	5.67
RYBKX	0.99	(0.02)	0.00	(0.78)	0.00	0.00	2.15	(2.48)	6.98
RYBMX	0.77	0.06	0.09	(0.37)	0.96	(0.74)	1.39	(1.47)	5.65
RYBHX	0.98	(0.12)	0.00	1.16	0.00	0.00	1.75	(2.50)	4.97
RYBIX	0.77	0.06	0.09	(0.38)	1.00	(0.74)	1.39	(1.45)	5.66
RYBOX	0.86	0.04	0.08	(0.31)	0.99	(0.90)	1.69	(1.67)	4.61
RYABX	0.76	0.11	0.17	1.01	0.69	(0.88)	1.96	(1.40)	4.20
RYAIX	1.05	0.14	0.14	1.22	1.06	(1.21)	2.76	(1.60)	6.28

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