Utilities Fund Correlations

Mutual Funds . USA . 
Fund . Utilities Fund Investor
RYUIX Fund  USD 56.34  0.05  0.09%   
The current 90-days correlation between Utilities Fund Investor and Health Care Fund is 0.32 (i.e., Weak 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

Modest diversification

The correlation between Utilities Fund Investor and DJI is 0.25 (i.e., Modest 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

  0.8D Dominion Energy Sell-off TrendPairCorr
  0.73ED Consolidated EdisonPairCorr
  0.72ES Eversource EnergyPairCorr
  0.77FE FirstEnergyPairCorr
  0.7SO Southern Sell-off TrendPairCorr
  0.78WTRG Essential UtilitiesPairCorr
  0.79AEP American Electric PowerPairCorr
  0.64AQN Algonquin Power UtilitiesPairCorr
  0.64ATO Atmos EnergyPairCorr
  0.91AVA AvistaPairCorr
  0.78AWK American Water WorksPairCorr
  0.73AWR American States WaterPairCorr
  0.67BEP Brookfield RenewablePairCorr
  0.84BIP Brookfield InfrastructurePairCorr
  0.72BKH Black HillsPairCorr
  0.61CEG Constellation Energy CorpPairCorr
  0.62CIG Companhia EnergeticaPairCorr
  0.76CMS CMS EnergyPairCorr

Moving against Utilities Mutual Fund

  0.52ENIC Enel Chile SAPairCorr
  0.42AY Atlantica SustainablePairCorr
  0.36CDZIP Cadiz Depositary SharesPairCorr
  0.39EDN Empresa DistribuidoraPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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   
RYKIX
+ 0.98
RYFIX
RYFIX
+ 0.88
RYPIX
RYTIX
+ 0.87
RYPIX
RYFIX
+ 0.87
RYTIX
RYKIX
+ 0.85
RYTIX
RYKIX
+ 0.84
RYPIX
  
High negative correlations   
RYPIX
- 0.48
RYHIX
RYFIX
- 0.23
RYHIX
RYTIX
- 0.18
RYHIX
RYKIX
- 0.17
RYHIX

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.

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions
 
Feedback Blog
Made with optimal in San Francisco
2024 Macroaxis LLC
COMMON DESTINATIONS
MAIN CATEGORIES
COMPANY