Income Fund Correlations

Mutual Funds USA . 
Fund . Income Fund Class
CMPIX Fund  USD 8.60  0.03  0.35%   
The current 90-days correlation between Income Fund Class and T Rowe Price is 0.01 (i.e., Significant 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

Good diversification

The correlation between Income Fund Class and DJI is -0.13 (i.e., Good 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

  0.75PFIEX International EquityPairCorr
  0.83PFISX International Small PanyPairCorr
  0.65PFRSX Real Estate SecuritiesPairCorr
  0.84PGBAX Global Diversified IncomePairCorr
  0.79PGBLX Global Diversified IncomePairCorr
  0.86PGDCX Global Diversified IncomePairCorr
  0.8PGDIX Global Diversified IncomePairCorr
  0.91STCCX Short Term IncomePairCorr
  0.92PGRUX Global Real EstatePairCorr
  0.78PGRVX Global Real EstatePairCorr
  0.68PGSLX Principal Global SusPairCorr
  0.92PGRKX Global Real EstatePairCorr

Moving against Income Mutual Fund

  0.72PFPPX Midcap GrowthPairCorr
  0.61SACAX Strategic Asset ManaPairCorr
  0.56SAGPX Strategic Asset ManaPairCorr
  0.51PFLJX Principal Lifetime 2050PairCorr
  0.45SABPX Strategic Asset ManaPairCorr
  0.67PGBFX Blue Chip FundPairCorr
  0.65PGRTX Smallcap GrowthPairCorr
  0.63PGBEX Blue Chip FundPairCorr
  0.63PGBGX Blue Chip FundPairCorr
  0.63PGBHX Blue Chip FundPairCorr
  0.52PYASX Principal Lifetime 2040PairCorr
  0.41PGLSX Global Multi StrategyPairCorr
  0.75PHASX Midcap GrowthPairCorr
  0.72PGWIX Midcap GrowthPairCorr
  0.55SCGPX Strategic Asset ManaPairCorr
  0.52PHJGX Principal Lifetime HybridPairCorr
  0.52PHJBX Principal Lifetime HybridPairCorr
  0.52PHJDX Principal Lifetime HybridPairCorr

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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