Nicholas Equity Correlations

Mutual Funds . USA . 
Fund . Nicholas Equity Income
NSEIX Fund  USD 22.24  0.01  0.04%   
The current 90-days correlation between Nicholas Equity Income and Nicholas Ltd Edition is 0.83 (i.e., Very poor diversification). The correlation of Nicholas Equity 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.

Nicholas Equity Correlation With Market

Almost no diversification

The correlation between Nicholas Equity Income and DJI is 0.9 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nicholas Equity Income and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Nicholas Equity Income. 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 Nicholas Mutual Fund

  0.83NCLEX Nicholas EditionPairCorr
  0.94NCTWX Nicholas IiPairCorr
  0.96NICSX Nicholas FundPairCorr
  0.82NNLEX Nicholas EditionPairCorr
  0.94NNTWX Nicholas IiPairCorr
  1.0VVIAX Vanguard Value IndexPairCorr
  0.99DOXGX Dodge Cox StockPairCorr
  0.99AFMFX American MutualPairCorr
  0.99FFMMX American Funds AmericanPairCorr
  0.99FFFMX American Funds AmericanPairCorr
  0.97AMRMX American MutualPairCorr
  0.97AMFFX American MutualPairCorr
  0.97AMFCX American MutualPairCorr
  0.97DODGX Dodge Stock FundPairCorr
  1.0VIVAX Vanguard Value IndexPairCorr
  0.98DXQLX Direxion Monthly NasdaqPairCorr
  0.97RYVLX Nasdaq 100 2xPairCorr
  0.98RYVYX Nasdaq 100 2xPairCorr
  0.98UOPIX Ultra Nasdaq 100PairCorr
  0.98RYCCX Nasdaq 100 2xPairCorr
  0.98UOPSX Ultranasdaq 100 ProfundPairCorr
  0.96INPIX Internet UltrasectorPairCorr
  0.95INPSX Internet UltrasectorPairCorr
  0.77BIPIX Biotechnology UltrasectorPairCorr
  0.99VEXMX Vanguard Extended MarketPairCorr
  0.94HSMNX Horizon Defensive SmmdPairCorr
  0.98GWPFX American Funds GrowthPairCorr
  0.99VFINX Vanguard 500 IndexPairCorr
  0.97USCAX Small Cap StockPairCorr
  0.96GBCAX Gabelli DividendPairCorr
  0.61EMOCX Eaton Vance MunicipalPairCorr
  0.97TREMX T Rowe PricePairCorr
  0.98PASTX T Rowe PricePairCorr
  0.76TSMUX Tiaa-cref Small/mid-capPairCorr
  0.97RPBAX T Rowe PricePairCorr
  0.73CCGSX Chautauqua Global GrowthPairCorr
  0.98ASCLX Ab Select LongshortPairCorr
  0.98BAGPX Blackrock Gwth PtfPairCorr
  0.91MKVBX Mfs International LargePairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Nicholas Mutual Fund performing well and Nicholas Equity 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 Nicholas Equity'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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