Utilities Fund Correlations

RYAUX Fund

USD 53.58 0.43 0.81%

The current 90-days correlation between Utilities Fund Class and Artisan High Income is 0.57 (i.e., Very 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

Poor diversification

The correlation between Utilities Fund Class and DJI is 0.74 (i.e., Poor 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

0.9	D	Dominion Energy	Pair Corr
0.91	ES	Eversource Energy	Pair Corr
0.77	HE	Hawaiian Electric	Pair Corr
0.73	NI	NiSource	Pair Corr
0.76	RNWWW	ReNew Energy Global	Pair Corr
0.91	ELPC	Companhia Paranaense	Pair Corr
0.87	ENIC	Enel Chile SA	Pair Corr
0.77	ENLT	Enlight Renewable Energy	Pair Corr
0.86	AQN	Algonquin Power Utilities	Pair Corr
0.84	BEP	Brookfield Renewable	Pair Corr
0.93	BIP	Brookfield Infrastructure	Pair Corr
0.9	CEG	Constellation Energy Corp	Pair Corr
0.89	CIG	Companhia Energetica	Pair Corr
0.67	DTW	DTE Energy	Pair Corr

Moving against Utilities Mutual Fund

0.59	CMS-PB	Consumers Energy	Pair Corr
0.57	ED	Consolidated Edison	Pair Corr
0.33	SR	Spire Inc	Pair Corr
0.57	CPK	Chesapeake Utilities	Pair Corr
0.54	AVA	Avista	Pair Corr
0.54	EXC	Exelon	Pair Corr
0.53	CWT	California Water Service	Pair Corr
0.36	CMS	CMS Energy	Pair Corr

Related Correlations Analysis

	ARTFX	GGBPX	PRVBX	MBSAX	BMOPX	ABNTX	BBINX	DODLX
ARTFX		0.78	0.78	0.94	0.37	0.7	0.7	0.86	ARTFX
GGBPX	0.78		0.9	0.92	0.85	0.87	0.88	0.91	GGBPX
PRVBX	0.78	0.9		0.88	0.77	0.88	0.7	0.96	PRVBX
MBSAX	0.94	0.92	0.88		0.62	0.82	0.8	0.95	MBSAX
BMOPX	0.37	0.85	0.77	0.62		0.8	0.71	0.72	BMOPX
ABNTX	0.7	0.87	0.88	0.82	0.8		0.76	0.89	ABNTX
BBINX	0.7	0.88	0.7	0.8	0.71	0.76		0.75	BBINX
DODLX	0.86	0.91	0.96	0.95	0.72	0.89	0.75		DODLX
	ARTFX	GGBPX	PRVBX	MBSAX	BMOPX	ABNTX	BBINX	DODLX

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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	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
ARTFX	0.18	0.02	(0.14)	0.31	0.21	(0.23)	0.55	(0.34)	1.13
GGBPX	0.32	0.00	(0.16)	0.13	0.44	(0.34)	0.63	(0.77)	1.88
PRVBX	0.10	0.01	(0.56)	0.43	0.04	(0.11)	0.21	(0.29)	0.82
MBSAX	0.30	0.03	(0.10)	0.33	0.40	(0.32)	0.68	(0.88)	2.04
BMOPX	0.29	0.00	(0.25)	(0.13)	0.35	(0.31)	0.56	(0.56)	1.77
ABNTX	0.19	0.01	(0.32)	(0.19)	0.21	(0.21)	0.30	(0.40)	1.38
BBINX	0.20	0.01	(0.18)	0.03	0.38	(0.21)	0.39	(0.80)	2.21
DODLX	0.26	0.04	(0.14)	3.15	0.26	(0.30)	0.55	(0.46)	2.13

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