Equity Income Correlations

JHEIX Fund

USD 19.45 0.04 0.21%

The current 90-days correlation between Equity Income and Nationwide Highmark Short is 0.15 (i.e., Average diversification). The correlation of Equity Income 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.

Equity Income Correlation With Market

Very poor diversification

The correlation between Equity Income Fund and DJI is 0.8 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Equity Income Fund and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Equity Income Fund. 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 Equity Mutual Fund

0.87	VVIAX	Vanguard Value Index	Pair Corr
0.86	DOXGX	Dodge Cox Stock	Pair Corr
0.89	AFMFX	American Mutual	Pair Corr
0.82	FFMMX	American Funds American	Pair Corr
0.89	FFFMX	American Funds American	Pair Corr
0.89	AMRMX	American Mutual	Pair Corr
0.76	AMFFX	American Mutual	Pair Corr
0.76	AMFCX	American Mutual	Pair Corr
0.99	DODGX	Dodge Stock Fund	Pair Corr
0.87	VIVAX	Vanguard Value Index	Pair Corr
0.61	NHS	Neuberger Berman High	Pair Corr
0.7	GE	GE Aerospace	Pair Corr
0.61	IBM	International Business	Pair Corr
0.66	WMT	Walmart	Pair Corr
0.62	CSCO	Cisco Systems	Pair Corr

Moving against Equity Mutual Fund

0.58

MRK

Merck Company

Pair Corr

Related Correlations Analysis

	NWJVX	PACEX	PRVBX	MFIRX	TBHDX	XMSDX	UIITX
NWJVX		0.91	0.95	0.94	0.85	0.79	0.9	NWJVX
PACEX	0.91		0.94	0.96	0.9	0.88	0.95	PACEX
PRVBX	0.95	0.94		0.95	0.88	0.85	0.92	PRVBX
MFIRX	0.94	0.96	0.95		0.84	0.89	0.93	MFIRX
TBHDX	0.85	0.9	0.88	0.84		0.81	0.88	TBHDX
XMSDX	0.79	0.88	0.85	0.89	0.81		0.87	XMSDX
UIITX	0.9	0.95	0.92	0.93	0.88	0.87		UIITX
	NWJVX	PACEX	PRVBX	MFIRX	TBHDX	XMSDX	UIITX

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Equity Mutual Fund performing well and Equity Income 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 Equity Income'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
NWJVX	0.08	0.01	0.69	0.67	0.00	(0.14)	0.20	(0.10)	0.61
PACEX	0.12	0.01	0.47	(0.32)	0.00	(0.20)	0.33	(0.22)	0.76
PRVBX	0.10	0.00	0.71	(0.39)	0.00	(0.13)	0.23	(0.17)	0.53
MFIRX	0.11	0.01	0.30	(0.27)	0.00	(0.21)	0.19	(0.19)	0.77
TBHDX	0.61	0.06	0.10	0.10	0.94	(0.66)	1.29	(1.29)	4.47
XMSDX	0.25	(0.02)	0.00	(0.89)	0.00	0.00	0.51	(0.38)	3.67
UIITX	0.24	0.01	0.27	0.19	0.23	(0.29)	0.55	(0.44)	1.45

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC