In India capital market provide various investment avenues to the investors, to help them to invest in various industries and to confirm the profitable come back. Mutual fund ensures the minimum risks and most come back to the investors among numerous financial products. Growth and developments of assorted mutual funds product within the Indian capital market has established to be one of the most chemical action instruments in generating significant investment growth within the capital market. Considering this, shut observance and analysis of mutual funds has become essential. Therefore, choosing profitable mutual funds for investment may be a vital issue. This study, basically, deals with the equity mutual funds that area unit offered for investment by the assorted fund homes in India, This study primarily targeted on the performance of elect equity giant and middle cap mutual fund schemes in terms of risk - come back relationship. The most objectives of this analysis work are to analysis monetary performance of elect mutual fund schemes through the applied math parameters like (alpha, beta, variance, sharp ratio).