Reaves Utility Correlations

UTG Fund

USD 34.76 0.05 0.14%

The current 90-days correlation between Reaves Utility If and Cohen Steers Reit is 0.68 (i.e., Poor 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

Poor diversification

The correlation between Reaves Utility If and DJI is 0.64 (i.e., Poor 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

0.61	DUKB	Duke Energy Corp	Pair Corr
0.7	UZE	United States Cellular	Pair Corr
0.74	CISGX	Touchstone Sands Capital	Pair Corr
0.79	MGHRX	Morgan Stanley Insti	Pair Corr
0.79	MGRPX	Growth Portfolio Class	Pair Corr
0.77	LSITX	Clearbridge Large Cap	Pair Corr
0.74	IEOPX	Ing Evergreen Omega	Pair Corr
0.8	STNFX	Wells Fargo Large	Pair Corr
0.83	HDVAX	Hartford International	Pair Corr
0.82	GBFAX	Emerging Markets	Pair Corr
0.76	AGCAX	Arbitrage Credit	Pair Corr
0.8	AAAPX	Deutsche Real Assets	Pair Corr
0.82	OANEX	Oakmark International	Pair Corr
0.81	EMGYX	Wells Fargo Emerging	Pair Corr
0.76	RPNIX	Riverpark/next Century	Pair Corr
0.84	ADVMX	Advisory Research	Pair Corr
0.78	HERAX	Hartford Emerging Markets	Pair Corr
0.84	PXGOX	Pax Global Opportunities	Pair Corr
0.76	APDTX	Artisan Thematic	Pair Corr
0.8	MSDLX	Global Strategist	Pair Corr
0.85	FOSFX	Fidelity Overseas	Pair Corr
0.71	FSEDX	Fidelity Series Emerging	Pair Corr
0.69	GSIMX	Goldman Sachs Gqg	Pair Corr
0.77	TICIX	Timothy Israel Mon	Pair Corr
0.81	WILJX	William Blair Intern	Pair Corr
0.83	LISIX	Lazard International	Pair Corr
0.91	BGGKX	Equity Growth	Pair Corr

Moving against Reaves Fund

0.46	SOJD	Southern	Pair Corr
0.34	NOVA	Sunnova Energy Inter	Pair Corr

Related Correlations Analysis

	RNP	RQI	PTY	HQH	UTF	RFI	PDO	CSQ	GOF	PCN
RNP		0.98	0.88	0.73	0.72	0.92	0.9	0.86	0.72	0.73	RNP
RQI	0.98		0.88	0.75	0.73	0.94	0.91	0.86	0.7	0.73	RQI
PTY	0.88	0.88		0.81	0.52	0.75	0.91	0.7	0.87	0.91	PTY
HQH	0.73	0.75	0.81		0.36	0.58	0.78	0.56	0.78	0.79	HQH
UTF	0.72	0.73	0.52	0.36		0.81	0.65	0.73	0.26	0.23	UTF
RFI	0.92	0.94	0.75	0.58	0.81		0.86	0.89	0.51	0.55	RFI
PDO	0.9	0.91	0.91	0.78	0.65	0.86		0.78	0.73	0.81	PDO
CSQ	0.86	0.86	0.7	0.56	0.73	0.89	0.78		0.55	0.5	CSQ
GOF	0.72	0.7	0.87	0.78	0.26	0.51	0.73	0.55		0.93	GOF
PCN	0.73	0.73	0.91	0.79	0.23	0.55	0.81	0.5	0.93		PCN
	RNP	RQI	PTY	HQH	UTF	RFI	PDO	CSQ	GOF	PCN

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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	0.96	0.06	0.03	0.09	1.87	(0.77)	1.84	(2.77)	9.20
RQI	1.16	0.03	0.02	0.05	1.85	(1.15)	2.23	(2.81)	7.96
PTY	0.75	(0.04)	0.00	(0.05)	0.00	0.00	1.35	(1.15)	10.25
HQH	1.29	(0.02)	0.00	(0.02)	0.00	0.00	2.62	(3.62)	10.59
UTF	0.81	0.11	0.06	0.24	1.55	(0.81)	1.53	(1.35)	7.99
RFI	1.09	0.05	0.03	0.08	1.53	(1.14)	1.97	(2.87)	8.36
PDO	0.74	(0.03)	0.00	(0.03)	0.00	0.00	1.23	(2.07)	10.00
CSQ	1.26	0.16	0.06	0.15	2.11	(1.11)	2.47	(2.70)	13.02
GOF	0.88	(0.04)	0.00	(0.05)	0.00	0.00	1.63	(1.77)	10.50
PCN	0.80	(0.07)	0.00	(0.11)	0.00	0.00	1.23	(1.79)	9.08

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