Reaves Utility Correlations

UTG Fund

USD 32.69 0.15 0.46%

The current 90-days correlation between Reaves Utility If and Cohen Steers Reit is 0.45 (i.e., Very weak 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 0.38 (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 estimate.

Moving together with Reaves Fund

0.62	DTW	DTE Energy	Pair Corr
0.75	PEO	Adams Natural Resources	Pair Corr
0.72	JULMX	Multimanager Lifestyle	Pair Corr

Moving against Reaves Fund

0.5	RYUHX	Inverse Sp 500	Pair Corr
0.31	ABQYX	Ab Intermediate Bond	Pair Corr

Related Correlations Analysis

	RNP	RQI	PTY	HQH	UTF	RFI	PDO	CSQ	GOF	PCN
RNP		0.88	0.86	0.74	0.83	0.94	0.8	-0.13	0.8	0.89	RNP
RQI	0.88		0.91	0.82	0.69	0.95	0.81	0.1	0.64	0.84	RQI
PTY	0.86	0.91		0.92	0.66	0.89	0.86	0.12	0.64	0.91	PTY
HQH	0.74	0.82	0.92		0.54	0.74	0.72	0.31	0.43	0.78	HQH
UTF	0.83	0.69	0.66	0.54		0.79	0.82	-0.38	0.86	0.8	UTF
RFI	0.94	0.95	0.89	0.74	0.79		0.86	-0.11	0.81	0.91	RFI
PDO	0.8	0.81	0.86	0.72	0.82	0.86		-0.26	0.8	0.86	PDO
CSQ	-0.13	0.1	0.12	0.31	-0.38	-0.11	-0.26		-0.52	-0.04	CSQ
GOF	0.8	0.64	0.64	0.43	0.86	0.81	0.8	-0.52		0.84	GOF
PCN	0.89	0.84	0.91	0.78	0.8	0.91	0.86	-0.04	0.84		PCN
	RNP	RQI	PTY	HQH	UTF	RFI	PDO	CSQ	GOF	PCN

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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

RFI	+ 0.95	RQI
RFI	+ 0.94	RNP
HQH	+ 0.92	PTY
PTY	+ 0.91	RQI
PCN	+ 0.91	PTY
PCN	+ 0.91	RFI

High negative correlations

GOF	- 0.52	CSQ
CSQ	- 0.38	UTF
CSQ	- 0.26	PDO
CSQ	- 0.13	RNP
CSQ	- 0.11	RFI
PCN	- 0.04	CSQ

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
RNP	0.68	0.12	0.17	0.16	0.80	(0.73)	1.45	(1.41)	4.54
RQI	0.80	0.11	0.11	0.09	1.07	(0.80)	1.64	(1.72)	4.73
PTY	0.19	0.04	0.27	0.25	0.22	(0.21)	0.42	(0.34)	1.82
HQH	0.81	0.12	0.16	0.16	0.82	(0.91)	1.62	(1.37)	3.79
UTF	0.63	0.14	0.28	0.38	0.48	(0.78)	1.61	(0.96)	3.59
RFI	0.65	0.10	0.15	0.14	0.76	(0.70)	1.23	(1.05)	4.04
PDO	0.39	0.14	0.26	0.58	0.43	(0.42)	0.83	(0.97)	3.44
CSQ	0.80	(0.06)	0.00	(0.14)	0.00	0.00	1.22	(1.65)	5.19
GOF	0.43	0.14	0.27	0.64	0.40	(0.46)	0.97	(1.01)	2.89
PCN	0.28	0.06	0.27	0.29	0.29	(0.30)	0.60	(0.59)	1.71

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