Utilities Fund Correlations

RYCUX Fund  USD 43.83  0.75  1.68%   
The current 90-days correlation between Utilities Fund Class and Praxis Small Cap is 0.5 (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

Good diversification

The correlation between Utilities Fund Class and DJI is -0.06 (i.e., Good 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

  0.87D Dominion EnergyPairCorr
  0.9ES Eversource Energy Earnings Call This WeekPairCorr
  0.68RNWWW ReNew Energy GlobalPairCorr
  0.8ELPC Companhia ParanaensePairCorr
  0.78ENLT Enlight Renewable EnergyPairCorr
  0.76AQN Algonquin Power UtilitiesPairCorr
  0.82BEP Brookfield RenewablePairCorr
  0.87BIP Brookfield InfrastructurePairCorr
  0.92CEG Constellation Energy CorpPairCorr
  0.83CIG Companhia EnergeticaPairCorr
  0.79DTW DTE EnergyPairCorr

Moving against Utilities Mutual Fund

  0.76ED Consolidated EdisonPairCorr
  0.72WTRG Essential UtilitiesPairCorr
  0.46SR Spire IncPairCorr
  0.44AEE Ameren CorpPairCorr
  0.42FE FirstEnergyPairCorr
  0.36AEP American Electric PowerPairCorr
  0.82CWT California Water ServicePairCorr
  0.8AVA AvistaPairCorr
  0.79EXC ExelonPairCorr
  0.75CPK Chesapeake UtilitiesPairCorr
  0.61CMS CMS Energy Earnings Call This WeekPairCorr
  0.57AWR American States WaterPairCorr
  0.56BKH Black HillsPairCorr
  0.56EIX Edison International Earnings Call This WeekPairCorr
  0.52AWK American Water WorksPairCorr
  0.47DUK Duke EnergyPairCorr
  0.44ATO Atmos EnergyPairCorr
  0.43EDN Empresa DistribuidoraPairCorr
  0.39CNP CenterPoint EnergyPairCorr

Related Correlations Analysis

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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.