Utilities Fund Correlations

RYAUX Fund

USD 55.20 0.07 0.13%

The current 90-days correlation between Utilities Fund Class and Dominion Energy is 0.65 (i.e., Poor 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

Very weak diversification

The correlation between Utilities Fund Class and DJI is 0.42 (i.e., Very 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 manufacturing.

Moving together with UTILITIES Mutual Fund

0.95	D	Dominion Energy	Pair Corr
0.9	FE	FirstEnergy	Pair Corr
0.96	NI	NiSource	Pair Corr
0.9	SO	Southern Sell-off Trend	Pair Corr
0.79	SR	Spire Inc	Pair Corr
0.74	CMS-PB	Consumers Energy	Pair Corr
0.83	CMS-PC	CMS Energy	Pair Corr
0.72	CDZIP	Cadiz Depositary Shares	Pair Corr
0.72	ELLO	Ellomay Capital	Pair Corr
0.64	ENLT	Enlight Renewable Energy	Pair Corr
0.9	EVRG	Evergy,	Pair Corr
0.98	AEE	Ameren Corp Sell-off Trend	Pair Corr
0.98	AEP	American Electric Power	Pair Corr
0.84	AES	AES	Pair Corr
0.8	ATO	Atmos Energy	Pair Corr
0.68	AWK	American Water Works	Pair Corr
0.76	BKH	Black Hills	Pair Corr
0.68	CEG	Constellation Energy Corp	Pair Corr
0.96	CMS	CMS Energy	Pair Corr
0.93	CNP	CenterPoint Energy	Pair Corr
0.93	DTE	DTE Energy	Pair Corr
0.85	DTW	DTE Energy	Pair Corr

Moving against UTILITIES Mutual Fund

0.84	VGAS	Verde Clean Fuels	Pair Corr
0.71	RNWWW	ReNew Energy Global	Pair Corr
0.66	ENIC	Enel Chile SA	Pair Corr
0.87	BIP	Brookfield Infrastructure	Pair Corr
0.81	GNE	Genie Energy	Pair Corr
0.66	AWR	American States Water	Pair Corr

Related Correlations Analysis

	D	ED	ES	FE	HE	NI	SO	SR	VGAS	DUKB
D		0.41	0.46	0.91	0.62	0.89	0.84	0.78	-0.84	0.55	D
ED	0.41		0.71	0.29	-0.24	0.42	0.36	0.2	-0.42	0.06	ED
ES	0.46	0.71		0.23	-0.11	0.39	0.53	0.39	-0.34	0.03	ES
FE	0.91	0.29	0.23		0.78	0.87	0.67	0.71	-0.89	0.78	FE
HE	0.62	-0.24	-0.11	0.78		0.59	0.41	0.6	-0.57	0.76	HE
NI	0.89	0.42	0.39	0.87	0.59		0.85	0.75	-0.83	0.48	NI
SO	0.84	0.36	0.53	0.67	0.41	0.85		0.78	-0.64	0.19	SO
SR	0.78	0.2	0.39	0.71	0.6	0.75	0.78		-0.54	0.4	SR
VGAS	-0.84	-0.42	-0.34	-0.89	-0.57	-0.83	-0.64	-0.54		-0.65	VGAS
DUKB	0.55	0.06	0.03	0.78	0.76	0.48	0.19	0.4	-0.65		DUKB
	D	ED	ES	FE	HE	NI	SO	SR	VGAS	DUKB

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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

FE	+ 0.91	D
NI	+ 0.89	D
NI	+ 0.87	FE
SO	+ 0.85	NI
SO	+ 0.84	D
SR	+ 0.78	D

High negative correlations

VGAS	- 0.89	FE
VGAS	- 0.84	D
VGAS	- 0.83	NI
DUKB	- 0.65	VGAS
VGAS	- 0.64	SO
VGAS	- 0.57	HE

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
D	0.86	0.01	(0.04)	0.11	0.88	(1.07)	1.77	(1.40)	6.10
ED	0.73	(0.08)	0.00	(0.50)	0.00	0.00	1.28	(1.90)	4.27
ES	0.83	(0.11)	0.00	(0.06)	0.00	0.00	1.63	(1.80)	6.55
FE	0.63	0.07	0.00	0.46	0.70	(0.67)	1.29	(1.47)	3.67
HE	1.39	0.11	0.06	0.19	1.70	(1.56)	3.52	(3.31)	10.48
NI	0.87	0.02	(0.04)	0.17	1.27	(0.88)	1.74	(1.94)	7.21
SO	0.59	0.02	(0.07)	0.17	0.69	(0.63)	1.13	(1.43)	3.20
SR	0.80	(0.04)	(0.05)	0.03	1.22	(0.75)	1.91	(2.11)	6.06
VGAS	2.94	(0.35)	0.00	(0.07)	0.00	0.00	7.37	(5.37)	17.69
DUKB	0.32	0.03	(0.15)	0.41	0.28	(0.35)	0.81	(0.70)	1.93

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