Utilities Fund Correlations

RYUTX Fund

USD 52.98 0.07 0.13%

The current 90-days correlation between Utilities Fund Class and Nationwide Bailard Technology is 0.21 (i.e., Modest 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 0.35 (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 estimate.

Moving together with Utilities Mutual Fund

0.75	D	Dominion Energy	Pair Corr
0.72	ED	Consolidated Edison	Pair Corr
0.85	ES	Eversource Energy Sell-off Trend	Pair Corr
0.69	HE	Hawaiian Electric	Pair Corr
0.88	NI	NiSource	Pair Corr
0.74	SO	Southern	Pair Corr
0.83	SR	Spire Inc	Pair Corr
0.76	DUKB	Duke Energy Corp	Pair Corr
0.63	CDZIP	Cadiz Depositary Shares Earnings Call This Week	Pair Corr
0.79	ELPC	Companhia Paranaense	Pair Corr
0.8	ENIC	Enel Chile SA	Pair Corr
0.88	EVRG	Evergy,	Pair Corr
0.86	AEE	Ameren Corp Sell-off Trend	Pair Corr
0.82	AEP	American Electric Power	Pair Corr
0.82	ALE	Allete Inc	Pair Corr
0.81	AQN	Algonquin Power Utilities	Pair Corr
0.85	ATO	Atmos Energy	Pair Corr
0.67	AVA	Avista	Pair Corr
0.74	BKH	Black Hills	Pair Corr
0.64	CIG	Companhia Energetica	Pair Corr
0.77	CMS	CMS Energy	Pair Corr
0.79	CNP	CenterPoint Energy Sell-off Trend	Pair Corr
0.69	CPK	Chesapeake Utilities	Pair Corr
0.8	DTE	DTE Energy	Pair Corr
0.68	DTW	DTE Energy	Pair Corr

Moving against Utilities Mutual Fund

0.54	RNWWW	ReNew Energy Global	Pair Corr
0.32	CMS-PC	CMS Energy	Pair Corr
0.68	XIFR	XPLR Infrastructure Symbol Change	Pair Corr
0.59	EIX	Edison International	Pair Corr

Related Correlations Analysis

	NWHOX	BGSCX	DTEYX	GITAX	WFTDX	HTECX	BSTSX	JNGTX
NWHOX		0.83	0.82	0.83	0.85	0.8	0.83	0.83	NWHOX
BGSCX	0.83		0.96	0.98	0.93	0.94	1.0	1.0	BGSCX
DTEYX	0.82	0.96		0.99	0.98	0.98	0.97	0.97	DTEYX
GITAX	0.83	0.98	0.99		0.97	0.98	0.98	0.98	GITAX
WFTDX	0.85	0.93	0.98	0.97		0.98	0.93	0.94	WFTDX
HTECX	0.8	0.94	0.98	0.98	0.98		0.95	0.95	HTECX
BSTSX	0.83	1.0	0.97	0.98	0.93	0.95		1.0	BSTSX
JNGTX	0.83	1.0	0.97	0.98	0.94	0.95	1.0		JNGTX
	NWHOX	BGSCX	DTEYX	GITAX	WFTDX	HTECX	BSTSX	JNGTX

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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.

	Mean Deviation	Jensen Alpha	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
NWHOX	1.50	(0.29)	(0.44)	2.08	(3.60)	14.43
BGSCX	1.48	(0.10)	(0.16)	2.37	(3.68)	9.08
DTEYX	1.37	(0.06)	(0.12)	2.50	(3.77)	7.35
GITAX	1.25	(0.09)	(0.15)	1.79	(3.89)	7.57
WFTDX	0.91	(0.07)	(0.14)	1.70	(2.29)	4.98
HTECX	1.13	(0.07)	(0.14)	1.51	(3.14)	5.92
BSTSX	1.48	(0.10)	(0.16)	2.37	(3.69)	9.07
JNGTX	1.18	(0.07)	(0.14)	2.00	(3.18)	6.41

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