Equity Income Correlations

Mutual Funds . USA . 
Fund . Equity Income Fund
ACIIX Fund  USD 8.77  0.05  0.57%   
The current 90-days correlation between Equity Income and Morningstar Defensive Bond is 0.38 (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

Very poor diversification

The correlation between Equity Income Fund and DJI is 0.84 (i.e., Very poor 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 Trending Equities 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

  0.87AMDVX Mid Cap ValuePairCorr
  0.98AMEIX Equity GrowthPairCorr
  0.73AMKIX Emerging MarketsPairCorr
  0.83TWACX Short Term GovernmentPairCorr
  1.0AMVYX Mid Cap ValuePairCorr
  1.0AMVRX Mid Cap ValuePairCorr
  1.0AMVGX Mid Cap ValuePairCorr
  0.98TWEAX Equity IncomePairCorr
  1.0TWEIX Equity IncomePairCorr
  0.97TWGGX Global GrowthPairCorr
  0.83TWTIX Intermediate Term TaxPairCorr
  0.93TWSCX Strategic Allocation:PairCorr
  0.93TWSMX Strategic Allocation:PairCorr
  0.83TWUSX Short Term GovernmentPairCorr
  0.84TWUOX Short Term GovernmentPairCorr
  0.75ANONX Small Cap GrowthPairCorr
  0.97ANOIX Small Cap GrowthPairCorr
  0.85ANTMX Nt International SmallPairCorr
  0.99ANTGX Nt Non IntrinsicPairCorr
  0.98ANVMX American Century NonPairCorr
  0.97ANVLX American Century NonPairCorr
  0.81AONIX One Choice PortfolioPairCorr
  0.64APISX Short Duration InflationPairCorr
  0.9BULIX Utilities Fund InvestorPairCorr
  0.98BEQGX Equity GrowthPairCorr
  0.94ASQIX Small Pany FundPairCorr
  0.91ASTCX Strategic Allocation:PairCorr
  0.99ASVIX Small Cap ValuePairCorr
  0.89ABHIX High Yield FundPairCorr
  0.9BGEIX Global Gold FundPairCorr
  0.7ACDOX American Century DivPairCorr
  0.88ACHFX American Century HighPairCorr
  0.88ACSNX Short DurationPairCorr
  0.86AEDVX Emerging Markets DebtPairCorr
  1.0AEIYX Equity IncomePairCorr
  1.0AEIUX Equity IncomePairCorr
  0.86AEXDX Emerging Markets DebtPairCorr

Moving against Equity Mutual Fund

  0.79ERH Allspring Utilities AndPairCorr
  0.75AMRMX American MutualPairCorr

Related Correlations Analysis


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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