Equity Income Correlations

The current 90-days correlation between Equity Income and Fanisx is 0.17 (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 good diversification

The correlation between Equity Income Fund and DJI is -0.4 (i.e., Very good 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. 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 real.

Moving against Equity Mutual Fund

0.56	JQLBX	Multimanager Lifestyle	Pair Corr
0.56	JQLAX	Multimanager Lifestyle	Pair Corr
0.56	JQLGX	Multimanager Lifestyle	Pair Corr
0.55	JQLMX	Multimanager Lifestyle	Pair Corr
0.54	JRETX	J Hancock Ii	Pair Corr
0.5	JQLCX	Multimanager Lifestyle	Pair Corr
0.47	JRBFX	Regional Bank	Pair Corr
0.47	JRGRX	Regional Bank	Pair Corr
0.46	JRLIX	Retirement Living Through	Pair Corr
0.46	JRLLX	Retirement Living Through	Pair Corr
0.46	JRLOX	Retirement Living Through	Pair Corr
0.45	JRLDX	Retirement Living Through	Pair Corr
0.45	JRLFX	Multi Index 2010	Pair Corr
0.45	JRLHX	Retirement Living Through	Pair Corr
0.45	JRLKX	Multi Index 2015	Pair Corr
0.54	JROUX	J Hancock Ii	Pair Corr
0.53	JRODX	J Hancock Ii	Pair Corr
0.52	JRLQX	Retirement Living Through	Pair Corr
0.52	JRLUX	Multi Index 2045	Pair Corr
0.52	JRLWX	Retirement Living Through	Pair Corr
0.52	JRLVX	Retirement Living Through	Pair Corr
0.52	JRLZX	Retirement Living Through	Pair Corr
0.52	JAAFX	Jhancock Multi Index	Pair Corr
0.52	JAAKX	Jhancock Multi Index	Pair Corr
0.47	JRTBX	Retirement Living Through	Pair Corr
0.46	JRLPX	Multi Index 2020	Pair Corr
0.46	JRTAX	Retirement Living Through	Pair Corr
0.46	JRTDX	Multi Index 2025	Pair Corr
0.44	JAAIX	Alternative Asset	Pair Corr
0.44	JAAPX	Alternative Asset	Pair Corr
0.44	JAARX	Alternative Asset	Pair Corr
0.54	JAAVX	Jhancock Multimanager	Pair Corr
0.54	JAAZX	Jhancock Multimanager	Pair Corr
0.54	JABDX	Jhancock Multimanager	Pair Corr
0.54	JABBX	Jhancock Multimanager	Pair Corr
0.54	JABEX	Jhancock Multimanager	Pair Corr
0.51	JRTTX	Retirement Living Through	Pair Corr

Related Correlations Analysis

	IAADX	MFTFX	OPTCX	ABVCX	FIJFX	FANISX
IAADX		0.98	0.55	0.9	0.97	0.24	IAADX
MFTFX	0.98		0.6	0.92	0.97	0.21	MFTFX
OPTCX	0.55	0.6		0.7	0.57	-0.4	OPTCX
ABVCX	0.9	0.92	0.7		0.92	0.05	ABVCX
FIJFX	0.97	0.97	0.57	0.92		0.26	FIJFX
FANISX	0.24	0.21	-0.4	0.05	0.26		FANISX
	IAADX	MFTFX	OPTCX	ABVCX	FIJFX	FANISX

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

MFTFX	+ 0.98	IAADX
FIJFX	+ 0.97	IAADX
FIJFX	+ 0.97	MFTFX
ABVCX	+ 0.92	MFTFX
FIJFX	+ 0.92	ABVCX
ABVCX	+ 0.9	IAADX

High negative correlations

FANISX

- 0.4

OPTCX

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
IAADX	0.17	0.05	0.03	(2.30)	0.08	(0.20)	0.42	(0.30)	1.32
MFTFX	1.01	0.27	0.16	(1.22)	1.19	(1.07)	2.03	(2.15)	6.29
OPTCX	0.13	(0.01)	(0.18)	(0.01)	0.12	(0.18)	0.30	(0.30)	0.80
ABVCX	0.70	0.23	0.33	0.25	0.23	(0.92)	1.65	(1.07)	11.31
FIJFX	0.91	0.24	0.17	0.29	0.97	(0.96)	2.08	(2.01)	5.59
FANISX	0.20	(0.02)	0.00	(2.46)	0.00	0.00	0.38	(0.51)	1.21

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