Equity Income Correlations

Mutual Funds . USA . 
Fund . Equity Income Fund
PEIIX Fund  USD 41.28  0.01  0.02%   
The current 90-days correlation between Equity Income and Siit Emerging Markets is 0.3 (i.e., Weak 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

Almost no diversification

The correlation between Equity Income Fund and DJI is 0.93 (i.e., Almost no 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 Your Equity Center 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

  0.98SABPX Strategic Asset ManaPairCorr
  0.98SACAX Strategic Asset ManaPairCorr
  0.98SAGPX Strategic Asset ManaPairCorr
  0.96PFIJX Strategic Asset ManaPairCorr
  0.94PFIEX International EquityPairCorr
  0.97PFIFX Strategic Asset ManaPairCorr
  0.95PFISX International Small PanyPairCorr
  0.97PFIPX Strategic Asset ManaPairCorr
  0.97SAIPX Strategic Asset ManaPairCorr
  0.99PFLJX Principal Lifetime 2050PairCorr
  0.99PFPPX Midcap GrowthPairCorr
  0.68PFRSX Real Estate SecuritiesPairCorr
  0.96SAUPX Strategic Asset ManaPairCorr
  0.94PFUMX Finisterre UnconstrainedPairCorr
  0.95PGBAX Global Diversified IncomePairCorr
  0.96PGBLX Global Diversified IncomePairCorr
  0.98PGBEX Blue Chip FundPairCorr
  0.99PGBGX Blue Chip FundPairCorr
  0.99PGBHX Blue Chip FundPairCorr
  0.95PGDCX Global Diversified IncomePairCorr
  0.95PGDIX Global Diversified IncomePairCorr
  0.94PGDRX Diversified Real AssetPairCorr
  0.98PGLSX Global Multi StrategyPairCorr
  0.87STCCX Short Term IncomePairCorr
  0.99PGRTX Smallcap GrowthPairCorr
  0.85PGRUX Global Real EstatePairCorr
  0.73PGSLX Principal Global SusPairCorr
  0.83PGRKX Global Real EstatePairCorr
  0.99PGWIX Midcap GrowthPairCorr
  0.99SCBPX Strategic Asset ManaPairCorr
  0.97SCIPX Strategic Asset ManaPairCorr
  0.99SCGPX Strategic Asset ManaPairCorr
  0.99PHJEX Principal Lifetime HybridPairCorr
  0.98PHJFX Principal Lifetime HybridPairCorr
  0.99PHJGX Principal Lifetime HybridPairCorr
  0.99PHJBX Principal Lifetime HybridPairCorr
  0.99PHJDX Principal Lifetime HybridPairCorr
  0.99PHJNX Principal Lifetime HybridPairCorr
  0.97PHJQX Principal Lifetime HybridPairCorr
  0.97PHJJX Principal Lifetime HybridPairCorr

Related Correlations Analysis

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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.

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