Utilities Fund Correlations

Mutual Funds . USA . 
Fund . Utilities Fund Class
RYCUX Fund  USD 45.29  0.29  0.64%   
The current 90-days correlation between Utilities Fund Class and Smallcap World Fund is 0.28 (i.e., Modest 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

Modest diversification

The correlation between Utilities Fund Class and DJI is 0.27 (i.e., Modest 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 private.

Moving together with Utilities Mutual Fund

  0.83RYABX Government Long BondPairCorr
  1.0RYAUX Utilities Fund ClassPairCorr
  0.83RYCGX Government Long BondPairCorr

Moving against Utilities Mutual Fund

  0.86RYAQX Inverse Government LongPairCorr
  0.84RYBKX Banking Fund ClassPairCorr
  0.76RYBOX Biotechnology Fund ClassPairCorr
  0.7RYDHX Dow Jones IndustrialPairCorr
  0.69RYDKX Dow Jones IndustrialPairCorr
  0.65RYBCX Basic MaterialsPairCorr
  0.65RYBAX Basic MaterialsPairCorr
  0.65RYBIX Basic MaterialsPairCorr
  0.64RYBMX Basic MaterialsPairCorr
  0.64RYBHX Sp Midcap 400PairCorr
  0.64RYATX Nasdaq 100 FundPairCorr
  0.61RYAEX Europe 125x StrategyPairCorr
  0.53RYAHX Mid Cap 15xPairCorr
  0.5RYDCX Mid Cap 15xPairCorr
  0.49RYANX Nova Fund ClassPairCorr
  0.49RYAVX Sp Midcap 400PairCorr
  0.43RYAZX Sp Smallcap 600PairCorr
  0.39RYEAX Energy Fund ClassPairCorr
  0.75RYCNX Transportation Fund ClassPairCorr
  0.74RYDAX Dow Jones IndustrialPairCorr
  0.7RYCVX Dow 2x StrategyPairCorr
  0.68RYCYX Dow 2x StrategyPairCorr
  0.63RYCOX Nasdaq 100 FundPairCorr
  0.63RYCKX Sp Midcap 400PairCorr
  0.62RYCTX Sp 500 2xPairCorr
  0.59RYCAX Consumer ProductsPairCorr
  0.58RYCCX Nasdaq 100 2xPairCorr
  0.57RYCEX Europe 125x StrategyPairCorr
  0.56RYCIX Consumer ProductsPairCorr
  0.52RYFIX Financial ServicesPairCorr
  0.4RYCSX TelecommunicationsPairCorr
  0.4RYEIX Energy Fund InvestorPairCorr

Related Correlations Analysis


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.

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