Income Fund Correlations

FOIPX Fund

USD 9.12 0.01 0.11%

The current 90-days correlation between Income Fund Institutional and Tributary Smallmid Cap is 0.07 (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

Average diversification

The correlation between Income Fund Institutional and DJI is 0.15 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Income Fund Institutional and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Income Fund Institutional. 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 american community survey.

Moving together with Income Mutual Fund

1.0	FOINX	Income Fund Institutional	Pair Corr
0.86	FONPX	Tributary Nebraska Tax	Pair Corr
0.64	FOSIX	Short Intermediate Bond	Pair Corr
1.0	VBTLX	Vanguard Total Bond	Pair Corr
1.0	VBMFX	Vanguard Total Bond	Pair Corr
1.0	VBTIX	Vanguard Total Bond	Pair Corr
1.0	VTBSX	Vanguard Total Bond	Pair Corr
1.0	VTBIX	Vanguard Total Bond	Pair Corr
1.0	VTBNX	Vanguard Total Bond	Pair Corr
1.0	BFAFX	Bond Fund	Pair Corr
1.0	ABNDX	Bond Fund	Pair Corr
1.0	BFACX	Bond Fund	Pair Corr
1.0	FFBOX	American Funds	Pair Corr

Moving against Income Mutual Fund

0.65	FOBPX	Balanced Fund Instit	Pair Corr
0.62	FOBAX	Balanced Fund Instit	Pair Corr
0.59	FSMCX	Tributary Smallmid Cap	Pair Corr
0.58	FSMBX	Tributary Smallmid Cap	Pair Corr
0.48	FOSCX	Small Pany Fund	Pair Corr
0.48	FOSBX	Small Pany Fund	Pair Corr
0.76	FNCMX	Fidelity Nasdaq Posite	Pair Corr
0.72	VITSX	Vanguard Total Stock	Pair Corr
0.71	VFIAX	Vanguard 500 Index	Pair Corr
0.71	VFINX	Vanguard 500 Index	Pair Corr
0.71	RYVYX	Nasdaq 100 2x	Pair Corr
0.7	VTSAX	Vanguard Total Stock	Pair Corr
0.7	VTSMX	Vanguard Total Stock	Pair Corr
0.7	VSMPX	Vanguard Total Stock	Pair Corr
0.7	VSTSX	Vanguard Total Stock	Pair Corr
0.69	VFFSX	Vanguard 500 Index	Pair Corr
0.69	INDEX	Sp 500 Equal	Pair Corr
0.64	UBVSX	Undiscovered Managers	Pair Corr
0.55	VBIAX	Vanguard Balanced Index	Pair Corr
0.41	FSUTX	Utilities Portfolio	Pair Corr

Related Correlations Analysis

	FSMBX	FSMCX	FOBAX	FOBPX	FOIPX	FOINX	FONPX	FOSIX	FOSCX	FOSBX
FSMBX		1.0	0.93	0.85	-0.58	-0.58	-0.4	-0.1	0.95	0.95	FSMBX
FSMCX	1.0		0.93	0.85	-0.59	-0.58	-0.4	-0.1	0.95	0.95	FSMCX
FOBAX	0.93	0.93		0.93	-0.62	-0.61	-0.41	-0.05	0.84	0.84	FOBAX
FOBPX	0.85	0.85	0.93		-0.65	-0.64	-0.44	-0.09	0.76	0.76	FOBPX
FOIPX	-0.58	-0.59	-0.62	-0.65		1.0	0.86	0.64	-0.48	-0.48	FOIPX
FOINX	-0.58	-0.58	-0.61	-0.64	1.0		0.87	0.64	-0.48	-0.48	FOINX
FONPX	-0.4	-0.4	-0.41	-0.44	0.86	0.87		0.72	-0.29	-0.29	FONPX
FOSIX	-0.1	-0.1	-0.05	-0.09	0.64	0.64	0.72		-0.09	-0.09	FOSIX
FOSCX	0.95	0.95	0.84	0.76	-0.48	-0.48	-0.29	-0.09		1.0	FOSCX
FOSBX	0.95	0.95	0.84	0.76	-0.48	-0.48	-0.29	-0.09	1.0		FOSBX
	FSMBX	FSMCX	FOBAX	FOBPX	FOIPX	FOINX	FONPX	FOSIX	FOSCX	FOSBX

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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

FSMCX	+ 1.0	FSMBX
FOINX	+ 1.0	FOIPX
FOSBX	+ 1.0	FOSCX
FOSCX	+ 0.95	FSMBX
FOSBX	+ 0.95	FSMBX
FOSCX	+ 0.95	FSMCX

High negative correlations

FOIPX	- 0.65	FOBPX
FOINX	- 0.64	FOBPX
FOIPX	- 0.62	FOBAX
FOINX	- 0.61	FOBAX
FOIPX	- 0.59	FSMCX
FOINX	- 0.58	FSMCX

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
FSMBX	0.75	(0.04)	(0.02)	0.09	0.78	(0.83)	1.77	(1.52)	5.72
FSMCX	0.75	(0.04)	(0.02)	0.09	0.78	(0.86)	1.74	(1.52)	5.73
FOBAX	0.35	(0.02)	(0.15)	0.09	0.41	(0.40)	0.74	(0.99)	2.34
FOBPX	0.36	0.03	(0.17)	(1.32)	0.44	(0.39)	0.71	(0.92)	2.29
FOIPX	0.23	(0.05)	0.00	(0.66)	0.00	0.00	0.43	(0.55)	1.31
FOINX	0.22	(0.05)	0.00	(1.01)	0.00	0.00	0.43	(0.65)	1.31
FONPX	0.12	(0.02)	(0.42)	(0.22)	0.20	(0.17)	0.22	(0.22)	1.10
FOSIX	0.09	0.00	(0.88)	1.68	0.04	(0.16)	0.22	(0.11)	0.55
FOSCX	0.89	(0.06)	(0.01)	0.08	0.88	(1.03)	1.96	(1.64)	7.62
FOSBX	0.89	(0.06)	(0.01)	0.08	0.88	(1.03)	1.94	(1.66)	7.62

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