Utilities Portfolio Correlations

FSUTX Fund

USD 125.33 0.66 0.53%

The current 90-days correlation between Utilities Portfolio and Consumer Discretionary Portfolio is 0.25 (i.e., Modest 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

Significant diversification

The correlation between Utilities Portfolio Utilities and DJI is 0.09 (i.e., Significant 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 estimate.

Moving together with Utilities Mutual Fund

0.64	HE	Hawaiian Electric Earnings Call This Week	Pair Corr
0.69	EVRG	Evergy,	Pair Corr
0.65	WTRG	Essential Utilities Sell-off Trend	Pair Corr
0.78	ATO	Atmos Energy	Pair Corr
0.85	AVA	Avista	Pair Corr
0.61	AWK	American Water Works	Pair Corr
0.62	AWR	American States Water	Pair Corr
0.64	BIP	Brookfield Infrastructure Earnings Call This Week	Pair Corr
0.85	BKH	Black Hills	Pair Corr
0.84	CPK	Chesapeake Utilities	Pair Corr

Moving against Utilities Mutual Fund

0.62

ENIC

Enel Chile SA

Pair Corr

Related Correlations Analysis

	FSCPX	FSTCX	FDFAX	FIDSX	FSRFX
FSCPX		0.36	0.28	0.61	0.11	FSCPX
FSTCX	0.36		0.78	0.83	0.79	FSTCX
FDFAX	0.28	0.78		0.6	0.74	FDFAX
FIDSX	0.61	0.83	0.6		0.79	FIDSX
FSRFX	0.11	0.79	0.74	0.79		FSRFX
	FSCPX	FSTCX	FDFAX	FIDSX	FSRFX

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Backtest Portfolio

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 Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
FSCPX	1.03	0.15	0.07	0.57	1.61	(1.03)	2.11	(1.86)	8.63
FSTCX	0.72	(0.02)	(0.04)	0.00	1.02	(0.66)	1.33	(1.73)	4.61
FDFAX	0.66	(0.22)	0.00	(0.96)	0.00	0.00	0.94	(1.80)	6.34
FIDSX	0.91	0.09	0.05	0.28	1.12	(0.99)	1.64	(2.13)	11.32
FSRFX	0.87	(0.03)	0.00	(0.08)	0.00	0.00	1.90	(1.88)	9.68

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