India capital market has provide a various investment opportunities to the investors, for helping them to invest in various industries and to get the profitable return. Through this various financial products, mutual fund ensure the minimum risks and maximum return to the investors, in the Indian capital market Growth and developments of various mutual funds products has show to be one of the most catalytic instruments in make a momentous investment growth in the capital market. In this con mutual funds text, close monitoring and evaluation of mutual funds has become essential. Therefore, choosing profitable mutual funds for investment is a very important question. This study, basically, deals with the equity mutual funds that are offered for investment by the various fund houses in India, This study mainly focused on the performance of selected equity diversified mutual fund schemes in terms of risk- return relationship. The main objectives of this research work is to analysis performance of selected mutual fund schemes through the statistical parameters such as alpha ,beta, standard deviation, r-squared, Sharpe ratio. The findings of this research study will be help full to investors for his to take future investment decisions.