Equity Income Correlations

AEIUX Fund

USD 8.76 0.06 0.69%

The current 90-days correlation between Equity Income and Multisector Bond Sma is 0.2 (i.e., Modest 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 persons.

Moving together with Equity Mutual Fund

0.98	AMEIX	Equity Growth	Pair Corr
0.72	AMKIX	Emerging Markets	Pair Corr
0.83	TWACX	Short Term Government	Pair Corr
0.96	TWCGX	Growth Fund Investor	Pair Corr
0.98	TWEAX	Equity Income	Pair Corr
1.0	TWEIX	Equity Income	Pair Corr
0.73	TWIEX	International Growth	Pair Corr
0.82	TWTIX	Intermediate Term Tax	Pair Corr
0.83	TWUOX	Short Term Government	Pair Corr
0.97	ANORX	Small Cap Growth	Pair Corr
0.85	ANTMX	Nt International Small	Pair Corr
0.8	AONIX	One Choice Portfolio	Pair Corr
0.74	BCHIX	California High Yield	Pair Corr
0.93	ARGVX	One Choice 2060	Pair Corr
0.84	ARHVX	American Century Inv	Pair Corr
0.93	ARTOX	One Choice In	Pair Corr
0.98	BEQGX	Equity Growth	Pair Corr
0.93	ASMDX	Strategic Allocation:	Pair Corr
0.99	ASVIX	Small Cap Value	Pair Corr
0.71	ACECX	Emerging Markets	Pair Corr
1.0	AEIYX	Equity Income	Pair Corr
0.9	AGGWX	Global Gold Fund Steady Growth	Pair Corr
0.86	AHYVX	High Yield Fund	Pair Corr
0.63	CAYCX	California High Yield	Pair Corr
0.65	CAYAX	California High Yield	Pair Corr
0.91	VVIAX	Vanguard Value Index	Pair Corr
0.93	AWSHX	Washington Mutual	Pair Corr
0.93	WSHCX	Washington Mutual	Pair Corr
0.82	WSHFX	Washington Mutual	Pair Corr
0.95	FWWMX	American Funds Washington	Pair Corr
0.95	FWMMX	American Funds Washington	Pair Corr

Moving against Equity Mutual Fund

0.76	AMRMX	American Mutual	Pair Corr
0.4	AIAVX	Inflation Adjusted Bond	Pair Corr

Related Correlations Analysis

	DLGBX	BUFHX	ARTFX	MSTBX	MBSAX
DLGBX		0.74	0.66	0.73	0.72	DLGBX
BUFHX	0.74		0.93	0.88	0.92	BUFHX
ARTFX	0.66	0.93		0.82	0.86	ARTFX
MSTBX	0.73	0.88	0.82		0.91	MSTBX
MBSAX	0.72	0.92	0.86	0.91		MBSAX
	DLGBX	BUFHX	ARTFX	MSTBX	MBSAX

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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
DLGBX	0.16	0.02	(0.21)	0.35	0.00	(0.22)	0.35	(0.23)	0.69
BUFHX	0.10	0.00	(0.30)	0.08	0.00	(0.14)	0.19	(0.19)	0.76
ARTFX	0.09	0.01	(0.42)	0.14	0.00	(0.18)	0.22	(0.11)	0.66
MSTBX	0.05	0.00	(0.52)	0.03	0.00	(0.11)	0.10	(0.10)	0.31
MBSAX	0.21	0.02	(0.12)	0.22	0.10	(0.26)	0.37	(0.44)	2.24

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