Amana Income Correlations

AMINX Fund

USD 73.55 0.57 0.77%

The current 90-days correlation between Amana Income and Gabelli Dividend Income is 0.56 (i.e., Very weak 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 0.86 (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
0.7	AMIGX	Amana Growth	Pair Corr
0.95	AMIDX	Amana Developing World	Pair Corr
0.89	AMIPX	Amana Participation	Pair Corr
0.88	AMANX	Amana Income	Pair Corr
0.92	AMAPX	Amana Participation	Pair Corr
0.69	AMAGX	Amana Growth	Pair Corr
0.92	ETV	Eaton Vance Tax	Pair Corr
0.91	NFJ	Virtus Dividend Interest	Pair Corr
0.93	ARCVX	One Choice 2030	Pair Corr
0.89	GRRTX	Goldman Sachs Absolute	Pair Corr
0.88	PMOTX	Putnam Mortgage Opport	Pair Corr
0.92	FBAFX	American Funds American	Pair Corr
0.9	AVEDX	Ave Maria Rising	Pair Corr
0.89	SVOAX	Simt Managed Volatility	Pair Corr
0.62	JSGAX	John Hancock Strategic	Pair Corr
0.91	DHSYX	Diamond Hill Small	Pair Corr
0.85	GSSMX	Goldman Sachs Small	Pair Corr
0.72	HSACX	Hartford Schroders	Pair Corr
0.93	VSPSX	Voya Solution 2060	Pair Corr
0.97	OCMIX	Oppenheimer Moderate	Pair Corr

Moving against Amana Mutual Fund

0.43	IIF	Morgan Stanley India	Pair Corr
0.47	ETY	Eaton Vance Tax	Pair Corr

Related Correlations Analysis

	AMINX	DGAGX	HISGX	FCFWX	INUTX	DWGFX	HASCX	TPPAX	DIAMX	GDV
AMINX		0.75	0.83	0.95	0.93	0.9	0.92	0.95	0.41	0.97	AMINX
DGAGX	0.75		0.62	0.61	0.72	0.57	0.6	0.89	0.68	0.69	DGAGX
HISGX	0.83	0.62		0.9	0.81	0.86	0.88	0.82	0.36	0.89	HISGX
FCFWX	0.95	0.61	0.9		0.92	0.98	0.97	0.88	0.32	0.98	FCFWX
INUTX	0.93	0.72	0.81	0.92		0.89	0.96	0.9	0.41	0.95	INUTX
DWGFX	0.9	0.57	0.86	0.98	0.89		0.95	0.84	0.26	0.95	DWGFX
HASCX	0.92	0.6	0.88	0.97	0.96	0.95		0.86	0.26	0.97	HASCX
TPPAX	0.95	0.89	0.82	0.88	0.9	0.84	0.86		0.55	0.92	TPPAX
DIAMX	0.41	0.68	0.36	0.32	0.41	0.26	0.26	0.55		0.35	DIAMX
GDV	0.97	0.69	0.89	0.98	0.95	0.95	0.97	0.92	0.35		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	0.62	0.12	0.13	0.26	0.48	(0.74)	1.32	(1.26)	7.66
DGAGX	0.90	0.33	0.35	1.39	0.26	(1.17)	0.94	(1.19)	24.62
HISGX	0.94	0.09	0.09	0.16	0.91	(1.11)	1.85	(2.06)	6.20
FCFWX	0.32	0.06	0.05	0.21	0.16	(0.38)	0.67	(0.64)	1.97
INUTX	0.59	0.20	0.28	0.30	0.00	(0.71)	1.33	(1.19)	7.63
DWGFX	0.62	0.25	0.26	(11.77)	0.22	(0.75)	1.68	(0.80)	3.72
HASCX	0.87	0.26	0.29	0.29	0.46	(1.04)	2.46	(1.45)	5.68
TPPAX	0.39	0.15	0.24	0.49	0.00	(0.49)	0.74	(0.66)	6.56
DIAMX	0.33	0.02	(0.07)	0.12	0.31	(0.37)	0.70	(0.69)	1.81
GDV	0.44	0.10	0.14	0.26	0.22	(0.51)	1.03	(0.69)	2.42

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