Income Fund Correlations

CMPIX Fund

USD 8.73 0.01 0.11%

The current 90-days correlation between Income Fund Class and Mutual Of America is 0.15 (i.e., Average 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

Modest diversification

The correlation between Income Fund Class and DJI is 0.21 (i.e., Modest 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

0.64

STCCX

Short Term Income

Pair Corr

Related Correlations Analysis

	MAVKX	NESGX	QUAZX	VYRDX	IJSIX	GMAWX	MMSCX
MAVKX		0.48	0.76	0.93	0.87	0.84	-0.26	MAVKX
NESGX	0.48		0.81	0.63	0.77	0.62	0.36	NESGX
QUAZX	0.76	0.81		0.86	0.93	0.89	0.14	QUAZX
VYRDX	0.93	0.63	0.86		0.96	0.94	-0.03	VYRDX
IJSIX	0.87	0.77	0.93	0.96		0.91	0.06	IJSIX
GMAWX	0.84	0.62	0.89	0.94	0.91		0.08	GMAWX
MMSCX	-0.26	0.36	0.14	-0.03	0.06	0.08		MMSCX
	MAVKX	NESGX	QUAZX	VYRDX	IJSIX	GMAWX	MMSCX

Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

IJSIX	+ 0.96	VYRDX
GMAWX	+ 0.94	VYRDX
VYRDX	+ 0.93	MAVKX
IJSIX	+ 0.93	QUAZX
GMAWX	+ 0.91	IJSIX
GMAWX	+ 0.89	QUAZX

High negative correlations

MMSCX	- 0.26	MAVKX
MMSCX	- 0.03	VYRDX

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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
MAVKX	0.74	0.01	0.02	0.08	0.84	(0.82)	1.75	(1.33)	5.50
NESGX	1.59	(0.06)	0.01	0.05	2.32	(1.61)	3.08	(4.29)	10.20
QUAZX	1.19	(0.04)	0.00	0.05	1.64	(1.15)	2.07	(2.66)	7.27
VYRDX	0.75	(0.03)	(0.01)	0.05	0.99	(0.78)	1.62	(1.45)	4.07
IJSIX	0.83	(0.04)	(0.02)	0.04	1.06	(0.87)	1.74	(1.82)	4.57
GMAWX	0.70	(0.03)	(0.02)	0.05	0.82	(0.72)	1.60	(1.51)	4.15
MMSCX	0.96	(0.11)	0.00	(0.22)	0.00	0.00	1.77	(1.82)	11.15

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