Equity Income Correlations

Mutual Funds . USA . 
Fund . Equity Income Fund
AEUDX Fund  USD 9.71  0.02  0.21%   
The current 90-days correlation between Equity Income and Mid Cap Value is 0.94 (i.e., Almost no 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 0.83 (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 unemployment.

Moving together with Equity Mutual Fund

  0.95AMDVX Mid Cap ValuePairCorr
  0.82AMEIX Equity GrowthPairCorr
  0.91AMGIX Income GrowthPairCorr
  0.96TWADX Value Fund APairCorr
  0.8TWCCX Ultra Fund CPairCorr
  0.78TWCAX Select Fund APairCorr
  0.75TWCIX Select Fund InvestorPairCorr
  0.77TWCGX Growth Fund InvestorPairCorr
  0.95AMVYX Mid Cap ValuePairCorr
  0.94AMVRX Mid Cap ValuePairCorr
  0.73TWBIX Balanced Fund InvestorPairCorr
  0.95AMVGX Mid Cap ValuePairCorr
  0.9TWEAX Equity IncomePairCorr
  1.0TWEIX Equity IncomePairCorr
  0.77TWCUX Ultra Fund InvestorPairCorr
  0.81TWGIX Growth Fund IPairCorr
  0.87TWHIX Heritage Fund InvestorPairCorr
  0.81TWRCX Growth Fund CPairCorr
  0.83TWSCX Strategic AllocationPairCorr
  0.89TWSAX Strategic AllocationPairCorr
  0.88TWSMX Strategic AllocationPairCorr
  0.78TWSIX Select Fund IPairCorr
  0.87TWVLX Value Fund InvestorPairCorr
  0.8TWUAX Ultra Fund APairCorr
  0.8TWUIX Ultra Fund IPairCorr
  0.63NPHIX High Income FundPairCorr

Moving against Equity Mutual Fund

  0.54CDBCX Diversified BondPairCorr
  0.51TWACX Short Term GovernmentPairCorr
  0.5TWARX Short Term GovernmentPairCorr
  0.48TWAVX Short Term GovernmentPairCorr
  0.46TWGAX International GrowthPairCorr
  0.46TWIEX International GrowthPairCorr
  0.62ANTUX Nt Non IntrinsicPairCorr
  0.62ANVRX American Century NonPairCorr
  0.62ANVMX American Century NonPairCorr
  0.62ANVHX American Century NonPairCorr
  0.61ANTGX Nt Non IntrinsicPairCorr
  0.44TWUOX Short Term GovernmentPairCorr
  0.42TWUSX Short Term GovernmentPairCorr
  0.38ANTSX Nt International SmallPairCorr
  0.36ANTMX Nt International SmallPairCorr

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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