Income Fund Correlations

Mutual Funds . USA . 
Fund . Income Fund Of
CIMFX Fund  USD 24.98  0.11  0.44%   
The current 90-days correlation between Income Fund and Moderate Balanced Allocation is 0.64 (i.e., Poor diversification). The correlation of Income Fund 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.

Income Fund Correlation With Market

Very weak diversification

The correlation between Income Fund Of and DJI is 0.41 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Income Fund Of 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 Income Fund Of. 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 census.

Moving together with Income Mutual Fund

  1.0AMECX Income FundPairCorr
  0.83RNEBX New World FundPairCorr
  0.98AMFCX American MutualPairCorr
  0.98AMFFX American MutualPairCorr
  0.9RNCCX American Funds IncomePairCorr
  1.0AMEFX Income FundPairCorr
  0.92RNGGX New Economy FundPairCorr
  0.92RNGFX New Economy FundPairCorr
  0.92RNGHX New Economy FundPairCorr
  0.93RNGBX New Economy FundPairCorr
  0.93RNGAX New Economy FundPairCorr
  0.92RNGEX New Economy FundPairCorr
  0.92RNGCX New Economy FundPairCorr
  0.64TEBCX Tax Exempt BondPairCorr
  0.64TECCX Tax Exempt FundPairCorr
  0.89FPTPX American Funds ConsePairCorr
  0.7CDJAX American Funds CollegePairCorr
  0.88AMPCX Amcap Fund ClassPairCorr
  0.84AMPFX Amcap Fund ClassPairCorr
  0.81RNPAX New PerspectivePairCorr
  0.8RNPHX New PerspectivePairCorr
  0.79RNPGX New PerspectivePairCorr
  0.8RNPEX New PerspectivePairCorr
  0.98AMRMX American MutualPairCorr
  0.98AMRFX American MutualPairCorr
  0.83RNRPX American Funds RetirementPairCorr
  0.76AMUSX Us Government SecuritiesPairCorr
  0.83RNWFX New World FundPairCorr
  0.83RNWGX New World FundPairCorr
  0.83RNWBX New World FundPairCorr
  0.69CDWEX American Funds DevelopingPairCorr
  0.69CDWFX American Funds DevelopingPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Income Mutual Fund performing well and Income Fund 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 Income Fund'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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