Income Fund Correlations

Mutual Funds . USA . 
Fund . Income Fund Of
CIMFX Fund  USD 26.79  0.09  0.34%   
The current 90-days correlation between Income Fund and Voya Government Money is -0.01 (i.e., Good diversification). The correlation of Income 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.

Income Fund Correlation With Market

Almost no diversification

The correlation between Income Fund Of and DJI is 0.91 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Income Fund Of 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 Income Fund Of. 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 census.

Moving together with Income Mutual Fund

  1.0AMECX Income FundPairCorr
  0.99RNEBX New World FundPairCorr
  0.98AMFCX American MutualPairCorr
  0.98AMFFX American MutualPairCorr
  1.0RNCCX American Funds IncomePairCorr
  0.67FPPPX American Funds PresePairCorr
  1.0AMEFX Income FundPairCorr
  0.97RNGGX New Economy FundPairCorr
  0.97RNGFX New Economy FundPairCorr
  0.97RNGHX New Economy FundPairCorr
  0.97RNGBX New Economy FundPairCorr
  0.97RNGAX New Economy FundPairCorr
  0.97RNGEX New Economy FundPairCorr
  0.97RNGCX New Economy FundPairCorr
  1.0FPTPX American Funds ConsePairCorr
  0.99CDJAX American Funds CollegePairCorr
  0.98RNPBX New PerspectivePairCorr
  0.98RNPAX New PerspectivePairCorr
  0.98RNPGX New PerspectivePairCorr
  0.98RNPFX New PerspectivePairCorr
  0.98RNPEX New PerspectivePairCorr
  0.98AMRMX American MutualPairCorr
  0.99AMRFX American MutualPairCorr
  0.83TEPFX American Funds TaxPairCorr
  0.99RNWFX New World FundPairCorr
  0.99RNWGX New World FundPairCorr
  0.99CDWAX American Funds DevelopingPairCorr
  0.97ANFFX New Economy FundPairCorr
  0.98NPFCX New PerspectivePairCorr
  0.98NPFFX New PerspectivePairCorr
  0.98PGGFX American Funds GlobalPairCorr
  0.98ANWPX New PerspectivePairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Income Mutual Fund performing well and Income 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 Income 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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