Equity Income Correlations

ACIIX Fund

USD 8.95 0.05 0.56%

The current 90-days correlation between Equity Income and Cmg Ultra Short is 0.02 (i.e., Significant diversification). The correlation of Equity Income 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.

Equity Income Correlation With Market

Poor diversification

The correlation between Equity Income Fund and DJI is 0.71 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Equity Income Fund and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Equity Income Fund. 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 gross domestic product.

Moving together with Equity Mutual Fund

0.97	VVIAX	Vanguard Value Index	Pair Corr
0.96	AFMFX	American Mutual	Pair Corr
0.96	FFMMX	American Funds American	Pair Corr
0.95	FFFMX	American Funds American	Pair Corr
0.95	AMRMX	American Mutual	Pair Corr
0.95	AMFCX	American Mutual	Pair Corr
0.95	DODGX	Dodge Stock Fund	Pair Corr
0.97	VIVAX	Vanguard Value Index	Pair Corr
0.92	ERH	Allspring Utilities And	Pair Corr
0.96	WHIYX	Ivy High Income	Pair Corr
0.96	IVHIX	Ivy High Income	Pair Corr
0.96	IHIFX	Ivy High Income	Pair Corr
0.96	WRHIX	Ivy High Income	Pair Corr
0.96	WHIAX	Ivy High Income	Pair Corr
0.8	CSJZX	Cohen Steers Realty	Pair Corr
0.8	CSRSX	Cohen Steers Realty	Pair Corr

Moving against Equity Mutual Fund

0.46	TRV	The Travelers Companies	Pair Corr
0.37	WMT	Walmart Sell-off Trend	Pair Corr

Related Correlations Analysis

	CMGUX	LSYIX	LCCMX	HYSZX	ASCLX	BPIRX	QLERX
CMGUX		0.62	0.95	0.97	0.95	0.91	0.79	CMGUX
LSYIX	0.62		0.64	0.64	0.61	0.62	0.72	LSYIX
LCCMX	0.95	0.64		0.95	0.93	0.95	0.89	LCCMX
HYSZX	0.97	0.64	0.95		0.97	0.95	0.86	HYSZX
ASCLX	0.95	0.61	0.93	0.97		0.93	0.8	ASCLX
BPIRX	0.91	0.62	0.95	0.95	0.93		0.93	BPIRX
QLERX	0.79	0.72	0.89	0.86	0.8	0.93		QLERX
	CMGUX	LSYIX	LCCMX	HYSZX	ASCLX	BPIRX	QLERX

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Risk-Adjusted Indicators

There is a big difference between Equity Mutual Fund performing well and Equity Income 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 Equity Income'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
CMGUX	0.05	0.01	0.00	1.40	0.00	0.00	0.11	0.00	0.55
LSYIX	0.15	0.05	(0.57)	0.48	0.00	(0.23)	0.74	(0.20)	1.38
LCCMX	0.12	0.06	(1.04)	14.72	0.00	(0.26)	0.51	(0.12)	1.00
HYSZX	0.11	0.04	(0.97)	0.78	0.00	(0.20)	0.24	(0.12)	0.84
ASCLX	0.22	0.04	(0.37)	0.36	0.00	(0.28)	0.61	(0.39)	1.71
BPIRX	0.32	0.05	(0.21)	0.36	0.08	(0.38)	0.71	(0.48)	2.24
QLERX	0.29	0.06	(0.27)	0.63	0.18	(0.35)	0.64	(0.69)	1.91

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