Income Fund Correlations

Mutual Funds . USA . 
Fund . Income Fund R 6
PICNX Fund  USD 8.55  0.03  0.35%   
The current 90-days correlation between Income Fund R and Strategic Asset Management is 0.03 (i.e., Significant 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

Average diversification

The correlation between Income Fund R 6 and DJI is 0.12 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Income Fund R 6 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 Income Fund R 6. 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 board of governors.

Moving together with Income Mutual Fund

  0.68SABPX Strategic Asset ManaPairCorr
  0.65SACAX Strategic Asset ManaPairCorr
  0.66SAGPX Strategic Asset ManaPairCorr
  0.79PFIJX Strategic Asset ManaPairCorr
  0.61PFIEX International EquityPairCorr
  0.8PFIFX Strategic Asset ManaPairCorr
  0.67PFISX International Small PanyPairCorr
  0.8PFIPX Strategic Asset ManaPairCorr
  0.72SAIPX Strategic Asset ManaPairCorr
  0.66PFLJX Principal Lifetime 2050PairCorr
  0.67PFPPX Midcap GrowthPairCorr
  0.79SAUPX Strategic Asset ManaPairCorr
  0.8PFUMX Finisterre UnconstrainedPairCorr
  0.8PGBAX Global Diversified IncomePairCorr
  0.81PGBLX Global Diversified IncomePairCorr
  0.63PGBEX Blue Chip FundPairCorr
  0.63PGBGX Blue Chip FundPairCorr
  0.63PGBHX Blue Chip FundPairCorr
  0.81PGDCX Global Diversified IncomePairCorr
  0.81PGDIX Global Diversified IncomePairCorr
  0.65PGDRX Diversified Real AssetPairCorr
  0.75PGLSX Global Multi StrategyPairCorr
  0.87STCCX Short Term IncomePairCorr
  0.67PGRTX Smallcap GrowthPairCorr
  0.67PGWIX Midcap GrowthPairCorr
  0.69SCBPX Strategic Asset ManaPairCorr
  0.73SCIPX Strategic Asset ManaPairCorr
  0.67SCGPX Strategic Asset ManaPairCorr
  0.67PHJEX Principal Lifetime HybridPairCorr
  0.75PHJFX Principal Lifetime HybridPairCorr
  0.66PHJGX Principal Lifetime HybridPairCorr
  0.66PHJBX Principal Lifetime HybridPairCorr
  0.66PHJDX Principal Lifetime HybridPairCorr
  0.7PHJNX Principal Lifetime HybridPairCorr
  0.72PHJQX Principal Lifetime HybridPairCorr
  0.69PHJJX Principal Lifetime HybridPairCorr

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.
Mean DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
SABPX  0.51  0.22 (0.08)(0.84) 0.41 
(0.55)
 1.22 
(0.99)
 6.56 
SACAX  0.73  0.34  0.04 (0.93) 0.59 
(0.82)
 1.89 
(1.41)
 10.20 
SAGPX  0.64  0.29 (0.01)(0.89) 0.49 
(0.71)
 1.52 
(1.15)
 8.62 
PFIJX  0.27  0.09 (0.35)(0.74) 0.26 
(0.33)
 0.75 
(0.77)
 2.59 
PFIEX  0.70  0.16  0.10  0.50  0.17 
(0.83)
 1.59 
(1.24)
 8.03 
PFIFX  0.28  0.02 (0.37) 0.33  0.07 
(0.33)
 0.75 
(0.60)
 2.75 
PFISX  0.60  0.26  0.18  0.81  0.00 
(0.78)
 1.40 
(0.83)
 7.06 
PFIPX  0.27  0.02 (0.36) 0.33  0.06 
(0.33)
 0.75 
(0.60)
 2.57 
SAIPX  0.36  0.14 (0.23)(0.81) 0.26 
(0.41)
 0.89 
(0.95)
 4.14 
PFLJX  0.72  0.08  0.05  0.32  0.53 
(0.81)
 1.79 
(1.42)
 10.36 

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