Equity Income Correlations

Mutual Funds . USA . 
Fund . Equity Income Fund
AEYIX Fund  USD 9.58  0.06  0.63%   
The current 90-days correlation between Equity Income and International Growth Fund is 0.42 (i.e., Very 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 0.83 (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 gross domestic product.

Moving together with Equity Mutual Fund

  0.91AMDVX Mid Cap ValuePairCorr
  0.8AMEIX Equity GrowthPairCorr
  0.79AMGIX Income GrowthPairCorr
  0.92TWADX Value Fund APairCorr
  0.73TWCCX Ultra Fund CPairCorr
  0.74TWCAX Select Fund APairCorr
  0.69TWCIX Select Fund InvestorPairCorr
  0.7TWCGX Growth Fund InvestorPairCorr
  0.91AMVYX Mid Cap ValuePairCorr
  0.9AMVRX Mid Cap ValuePairCorr
  0.69TWBIX Balanced Fund InvestorPairCorr
  0.91AMVGX Mid Cap ValuePairCorr
  0.86TWEAX Equity IncomePairCorr
  1.0TWEIX Equity IncomePairCorr
  0.68TWCUX Ultra Fund InvestorPairCorr
  0.75TWGIX Growth Fund IPairCorr
  0.77TWHIX Heritage Fund InvestorPairCorr
  0.75TWRCX Growth Fund CPairCorr
  0.71TWSCX Strategic AllocationPairCorr
  0.77TWSAX Strategic AllocationPairCorr
  0.76TWSMX Strategic AllocationPairCorr
  0.69TWSIX Select Fund IPairCorr
  0.81TWVLX Value Fund InvestorPairCorr
  0.73TWUAX Ultra Fund APairCorr
  0.73TWUIX Ultra Fund IPairCorr
  0.65NPHIX High Income FundPairCorr

Moving against Equity Mutual Fund

  0.49CDBCX Diversified BondPairCorr
  0.4TWGAX International GrowthPairCorr
  0.4TWIEX International GrowthPairCorr
  0.5ANTUX Nt Non IntrinsicPairCorr
  0.5ANVRX American Century NonPairCorr
  0.5ANVLX American Century NonPairCorr
  0.49ANTGX Nt Non IntrinsicPairCorr
  0.49ANVMX American Century NonPairCorr
  0.49ANVHX American Century NonPairCorr

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   
TWCUX
+ 0.99
TWCGX
TWSAX
+ 0.93
TWCGX
TWSAX
+ 0.91
TWCUX
TWSAX
+ 0.79
TWEIX
TWEIX
+ 0.73
TWCGX
TWCUX
+ 0.72
TWEIX
  
High negative correlations   
TWCUX
- 0.54
TWIEX
TWCGX
- 0.48
TWIEX
TWEIX
- 0.42
TWIEX
TWSAX
- 0.33
TWIEX

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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