Utilities Portfolio Correlations

Mutual Funds . USA . 
Fund . Utilities Portfolio Utilities
FSUTX Fund  USD 146.86  1.29  0.89%   
The current 90-days correlation between Utilities Portfolio and Fidelity Freedom 2070 is 0.36 (i.e., Weak diversification). The correlation of Utilities Portfolio 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 Portfolio Correlation With Market

Average diversification

The correlation between Utilities Portfolio Utilities and DJI is 0.18 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Utilities Portfolio Utilities and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Utilities Portfolio Utilities. 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 population.

Moving together with Utilities Mutual Fund

  0.65FPXTX Fidelity PennsylvaniaPairCorr
  0.64FRAMX Fidelity Income ReplPairCorr
  0.62FRASX Fidelity Income ReplPairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

There is a big difference between Utilities Mutual Fund performing well and Utilities Portfolio 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 Portfolio'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
FPTKX  0.23  0.09  0.09  0.47  0.00 
(0.31)
 0.50 
(0.33)
 2.69 
FPURX  0.43  0.05  0.01  0.17  0.41 
(0.47)
 0.85 
(0.97)
 2.82 
FPUKX  0.43  0.05  0.01  0.17  0.41 
(0.45)
 0.85 
(1.01)
 2.82 
FPXTX  0.07  0.02 (0.36)(1.68) 0.00 
(0.13)
 0.19 
(0.10)
 0.66 
FQIFX  0.28  0.05 (0.01) 0.21  0.08 
(0.36)
 0.64 
(0.49)
 1.72 
FQIPX  0.47  0.07  0.07  0.19  0.41 
(0.53)
 0.94 
(0.97)
 3.10 
FQITX  0.61  0.11  0.10  0.24  0.62 
(0.66)
 1.36 
(1.21)
 3.49 
FQLSX  0.50  0.11  0.13  0.25  0.37 
(0.58)
 1.04 
(1.07)
 3.48 
FRBDX  0.51  0.11  0.13  0.25  0.39 
(0.59)
 0.99 
(1.02)
 3.36 
FRBEX  0.51  0.12  0.13  0.25  0.38 
(0.59)
 0.97 
(1.01)
 3.44 

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