Utilities Fund Correlations

Mutual Funds . USA . 
Fund . Utilities Fund Class
RYCUX Fund  USD 45.93  0.06  0.13%   
The current 90-days correlation between Utilities Fund Class and Volumetric Fund Volumetric is 0.44 (i.e., Very weak 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

Excellent diversification

The correlation between Utilities Fund Class and DJI is -0.52 (i.e., Excellent 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 persons.

Moving together with Utilities Mutual Fund

  0.83RYABX Government Long BondPairCorr
  0.83RYCGX Government Long BondPairCorr

Moving against Utilities Mutual Fund

  0.82RYAQX Inverse Government LongPairCorr
  0.76RYBKX Banking Fund ClassPairCorr
  0.64RYCFX Biotechnology Fund ClassPairCorr
  0.63RYBOX Biotechnology Fund ClassPairCorr
  0.53RYBCX Basic MaterialsPairCorr
  0.53RYDHX Dow Jones IndustrialPairCorr
  0.52RYBAX Basic MaterialsPairCorr
  0.52RYDKX Dow Jones IndustrialPairCorr
  0.51RYBIX Basic MaterialsPairCorr
  0.51RYATX Nasdaq 100 FundPairCorr
  0.5RYBMX Basic MaterialsPairCorr
  0.45RYAEX Europe 125x StrategyPairCorr
  0.45RYAHX Mid Cap 15xPairCorr
  0.45RYAVX Sp Midcap 400PairCorr
  0.44RYDCX Mid Cap 15xPairCorr
  0.4RYAWX Sp 500 PurePairCorr
  0.39RYAKX Russell 2000 15xPairCorr
  0.36RYAZX Sp Smallcap 600PairCorr
  0.34RYBHX Sp Midcap 400PairCorr
  0.32RYANX Nova Fund ClassPairCorr
  0.69RYCNX Transportation Fund ClassPairCorr
  0.63RYFNX Financial ServicesPairCorr
  0.62RYFIX Financial ServicesPairCorr
  0.56RYDAX Dow Jones IndustrialPairCorr
  0.55RYCAX Consumer ProductsPairCorr
  0.53RYCIX Consumer ProductsPairCorr
  0.52RYCOX Nasdaq 100 FundPairCorr
  0.52RYCYX Dow 2x StrategyPairCorr
  0.51RYCTX Sp 500 2xPairCorr
  0.5RYCVX Dow 2x StrategyPairCorr

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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