Income Fund Correlations

Mutual Funds . USA . 
Fund . Income Fund Class
CMPIX Fund  USD 8.69  0.01  0.11%   
The current 90-days correlation between Income Fund Class and Vanguard Short Term Bond is -0.14 (i.e., Good 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

Poor diversification

The correlation between Income Fund Class and DJI is 0.74 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Income Fund Class 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 Class. 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 Income Mutual Fund

  0.71SABPX Strategic Asset ManaPairCorr
  0.71SACAX Strategic Asset ManaPairCorr
  0.71SAGPX Strategic Asset ManaPairCorr
  0.81PFIJX Strategic Asset ManaPairCorr
  0.74PFIEX International EquityPairCorr
  0.8PFIFX Strategic Asset ManaPairCorr
  0.74PFISX International Small PanyPairCorr
  0.8PFIPX Strategic Asset ManaPairCorr
  0.73SAIPX Strategic Asset ManaPairCorr
  0.72PFLJX Principal Lifetime 2050PairCorr
  0.81SAUPX Strategic Asset ManaPairCorr
  0.61PGBAX Global Diversified IncomePairCorr
  0.72PGDRX Diversified Real AssetPairCorr
  0.72PGLSX Global Multi StrategyPairCorr
  0.76STCCX Short Term IncomePairCorr
  0.73PGRTX Smallcap GrowthPairCorr
  0.75PGRUX Global Real EstatePairCorr
  0.61PGSLX Principal Global SusPairCorr
  0.74PGRKX Global Real EstatePairCorr
  0.7SCBPX Strategic Asset ManaPairCorr
  0.71SCIPX Strategic Asset ManaPairCorr
  0.69SCGPX Strategic Asset ManaPairCorr
  0.77PHJEX Principal Lifetime HybridPairCorr
  0.79PHJFX Principal Lifetime HybridPairCorr
  0.77PHJGX Principal Lifetime HybridPairCorr
  0.77PHJBX Principal Lifetime HybridPairCorr
  0.78PHJDX Principal Lifetime HybridPairCorr
  0.78PHJNX Principal Lifetime HybridPairCorr
  0.78PHJQX Principal Lifetime HybridPairCorr
  0.79PHJMX Principal Lifetime HybridPairCorr
  0.74PHJTX Principal Lifetime HybridPairCorr
  0.77PHJUX Principal Lifetime HybridPairCorr
  0.8PHSPX Pimco High YieldPairCorr
  0.79PHTFX Principal Lifetime HybridPairCorr
  0.82SCUPX Strategic Asset ManaPairCorr

Related Correlations Analysis


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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