Income Fund Correlations

USAIX Fund  USD 11.54  0.04  0.35%   
The current 90-days correlation between Income Fund Income and Income Fund Income is 0.06 (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

Modest diversification

The correlation between Income Fund Income and DJI is 0.28 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Income Fund Income and DJI in the same portfolio, assuming nothing else is changed.
  
Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Income Fund 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 Income Mutual Fund

  0.86UINCX Income Fund IncomePairCorr
  0.72UINQX Usaa Nasdaq 100PairCorr
  0.74SRVEX Victory Diversified StockPairCorr
  0.91UITBX Intermediate Term BondPairCorr
  0.91UITCX Usaa Intermediate TermPairCorr
  0.71UITIX Usaa Tax ExemptPairCorr
  0.68SSGSX Victory Sycamore SmallPairCorr
  0.65SBFMX Victory PortfoliosPairCorr
  0.71MMECX Victory IntegrityPairCorr
  0.69MMEAX Victory IntegrityPairCorr
  0.62RPPRX Victory Rs PartnersPairCorr
  0.7MMIJX Victory Integrity MidPairCorr
  0.71MMMMX Victory IntegrityPairCorr
  0.7MMMSX Victory IntegrityPairCorr
  0.74MNNAX Victory Munder MultiPairCorr
  0.91RSDYX Victory Incore LowPairCorr
  0.62RSENX Victory Sophus EmergingPairCorr
  0.7RSEGX Victory Rs SmallPairCorr
  0.73RSDGX Victory Rs SelectPairCorr
  0.75RSFYX Victory Floating RatePairCorr
  0.75RSGGX Victory Rs GlobalPairCorr
  0.72RSGFX Victory Rs SelectPairCorr
  0.73RSGRX Victory Rs GrowthPairCorr
  0.71RSFCX Victory Floating RatePairCorr
  0.72RSFMX Victory Floating RatePairCorr
  0.72RSFLX Victory Floating RatePairCorr
  0.75RSIFX Victory Rs SciencePairCorr
  0.67RSINX Victory Rs InvestorsPairCorr
  0.71RSIGX Victory Rs InternationalPairCorr
  0.7RSIYX Victory Rs InvestorsPairCorr
  0.67RSMOX Victory Rs MidPairCorr
  0.71RSNRX Victory Global NaturalPairCorr
  0.72RSNYX Victory Global NaturalPairCorr
  0.62RSPMX Victory Rs Partners Potential GrowthPairCorr
  0.62RSPYX Victory Rs Partners Potential GrowthPairCorr

Related Correlations Analysis

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.
High positive correlations   
UITCXUITBX
SBFMXSBFCX
SRVEXUINQX
SSGSXSRVEX
UITBXUINCX
UITCXUINCX
  
High negative correlations   
GUTEXSRVEX
GUTEXUINQX
SBFMXGUTEX
SSGSXGUTEX
SBFCXGUTEX
GUTEXUITBX

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
UINCX  0.24  0.00 (0.41)(0.29) 0.26 
 0.44 
 1.14 
UINQX  0.80  0.18  0.16  0.31  0.59 
 2.39 
 5.37 
SRVEX  0.67  0.28  0.14 (2.18) 0.54 
 2.06 
 4.73 
UITBX  0.24  0.01 (0.36) 1.77  0.22 
 0.55 
 1.22 
UITCX  0.24  0.01 (0.39) 4.30  0.20 
 0.44 
 1.10 
UITIX  0.13  0.00 (0.61) 0.01  0.13 
 0.25 
 1.07 
GUTEX  0.21  0.00  0.00  0.00  0.00 
 0.38 
 1.65 
SSGSX  0.91  0.21  0.05 (1.39) 0.86 
 2.14 
 6.24 
SBFCX  0.34  0.09 (0.11)(1.08) 0.32 
 0.74 
 2.50 
SBFMX  0.33  0.10 (0.09)(1.06) 0.26 
 0.77 
 2.57