Amana Income Correlations

AMANX Fund

USD 75.07 0.31 0.41%

The current 90-days correlation between Amana Income and Gabelli Dividend Income is 0.63 (i.e., Poor diversification). The correlation of Amana 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.

Amana Income Correlation With Market

Very poor diversification

The correlation between Amana Income Fund and DJI is 0.89 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Amana 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 Amana 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 inflation.

Moving together with Amana Mutual Fund

0.95	AMDWX	Amana Developing World	Pair Corr
0.69	AMIGX	Amana Growth	Pair Corr
0.95	AMIDX	Amana Developing World	Pair Corr
1.0	AMINX	Amana Income	Pair Corr
0.92	AMIPX	Amana Participation	Pair Corr
0.94	AMAPX	Amana Participation	Pair Corr
0.68	AMAGX	Amana Growth	Pair Corr
0.77	VTSAX	Vanguard Total Stock	Pair Corr
0.75	VFIAX	Vanguard 500 Index	Pair Corr
0.77	VTSMX	Vanguard Total Stock	Pair Corr
0.77	VITSX	Vanguard Total Stock	Pair Corr
0.77	VSMPX	Vanguard Total Stock	Pair Corr
0.77	VSTSX	Vanguard Total Stock	Pair Corr
0.75	VFINX	Vanguard 500 Index	Pair Corr
0.75	VFFSX	Vanguard 500 Index	Pair Corr
0.75	VINIX	Vanguard Institutional	Pair Corr
0.75	VIIIX	Vanguard Institutional	Pair Corr
0.86	NHS	Neuberger Berman High	Pair Corr
0.89	FGDIX	Fidelity Advisor Gold Steady Growth	Pair Corr
0.91	MSTPX	Morningstar Municipal	Pair Corr
0.91	PGGAX	American Funds Global	Pair Corr
0.84	TFAGX	Tfa Alphagen Growth	Pair Corr
0.93	CMUAX	Columbia Mid Cap	Pair Corr
0.93	RNPFX	New Perspective	Pair Corr
0.97	VMNVX	Vanguard Global Minimum	Pair Corr
0.94	RBEEX	American Funds 2030	Pair Corr
0.78	GSGAX	Goldman Sachs Investment	Pair Corr
0.92	ETGAX	Eaton Vance Georgia	Pair Corr
0.66	RTLCX	Tax Managed Large	Pair Corr
0.94	CWGIX	Capital World Growth	Pair Corr
0.96	FOTKX	Fidelity Freedom 2010	Pair Corr
0.69	FLOTX	Power Floating Rate	Pair Corr
0.86	AEDNX	Arbitrage Event	Pair Corr
0.91	EMQCX	Ashmore Emerging Markets	Pair Corr
0.86	GCEYX	Ab Global E	Pair Corr
0.62	JDJAX	Jhancock Diversified	Pair Corr
0.97	NFFFX	New World Fund	Pair Corr
0.92	STRYX	Pioneer Strategic Income	Pair Corr

Related Correlations Analysis

	AMINX	DGAGX	HISGX	FCFWX	INUTX	DWGFX	HASCX	TPPAX	DIAMX	GDV
AMINX		0.85	0.86	0.95	0.94	0.91	0.93	0.96	0.7	0.97	AMINX
DGAGX	0.85		0.76	0.77	0.83	0.69	0.75	0.95	0.8	0.81	DGAGX
HISGX	0.86	0.76		0.93	0.85	0.85	0.91	0.86	0.72	0.9	HISGX
FCFWX	0.95	0.77	0.93		0.93	0.95	0.97	0.91	0.7	0.99	FCFWX
INUTX	0.94	0.83	0.85	0.93		0.87	0.97	0.92	0.73	0.95	INUTX
DWGFX	0.91	0.69	0.85	0.95	0.87		0.93	0.85	0.52	0.95	DWGFX
HASCX	0.93	0.75	0.91	0.97	0.97	0.93		0.89	0.65	0.97	HASCX
TPPAX	0.96	0.95	0.86	0.91	0.92	0.85	0.89		0.78	0.94	TPPAX
DIAMX	0.7	0.8	0.72	0.7	0.73	0.52	0.65	0.78		0.7	DIAMX
GDV	0.97	0.81	0.9	0.99	0.95	0.95	0.97	0.94	0.7		GDV
	AMINX	DGAGX	HISGX	FCFWX	INUTX	DWGFX	HASCX	TPPAX	DIAMX	GDV

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Risk-Adjusted Indicators

There is a big difference between Amana Mutual Fund performing well and Amana 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 Amana 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
AMINX	0.66	0.13	0.15	0.24	0.54	(0.75)	1.32	(1.26)	7.66
DGAGX	0.92	0.28	0.27	0.92	0.47	(1.18)	1.00	(1.28)	24.62
HISGX	1.03	0.06	0.05	0.12	1.13	(1.19)	2.12	(2.17)	6.20
FCFWX	0.35	0.05	0.03	0.16	0.29	(0.39)	0.68	(0.66)	1.97
INUTX	0.65	0.22	0.29	0.30	0.24	(0.78)	1.36	(1.19)	7.63
DWGFX	0.62	0.11	0.12	0.28	0.45	(0.73)	1.68	(1.03)	3.72
HASCX	0.93	0.25	0.24	0.26	0.62	(1.08)	3.02	(1.65)	5.68
TPPAX	0.42	0.13	0.17	0.38	0.00	(0.49)	0.74	(0.78)	6.56
DIAMX	0.34	0.01	(0.07)	0.09	0.30	(0.39)	0.70	(0.65)	1.81
GDV	0.51	0.10	0.11	0.22	0.45	(0.57)	1.07	(1.18)	2.65

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Amana Income Correlations

Amana Income Correlation With Market

Very poor diversification

Moving together with Amana Mutual Fund

Related Correlations Analysis

Risk-Adjusted Indicators

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