Nicholas Equity Correlations

Mutual Funds . USA . 
Fund . Nicholas Equity Income
NSEIX Fund  USD 23.20  0.25  1.07%   
The current 90-days correlation between Nicholas Equity Income and Nicholas Ii Inc is 0.75 (i.e., Poor diversification). The correlation of Nicholas Equity 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.

Nicholas Equity Correlation With Market

Very poor diversification

The correlation between Nicholas Equity Income and DJI is 0.85 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nicholas Equity Income and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Nicholas Equity Income. 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 Nicholas Mutual Fund

  0.97VVIAX Vanguard Value IndexPairCorr
  0.9AWSHX Washington MutualPairCorr
  0.9WSHCX Washington MutualPairCorr
  0.9WSHFX Washington MutualPairCorr
  0.81FWWMX American Funds WashingtonPairCorr
  0.8FWMMX American Funds WashingtonPairCorr
  0.9DODGX Dodge Stock FundPairCorr
  0.97AMFFX American MutualPairCorr
  0.96AMFCX American MutualPairCorr
  0.94NHS Neuberger Berman HighPairCorr
  0.93LHIAX Columbia High YieldPairCorr
  0.91LPVCX Blackrock LifepathPairCorr
  0.66RNPBX New PerspectivePairCorr
  0.92AEPCX Europacific GrowthPairCorr
  0.89JDVVX John Hancock DisciplinedPairCorr
  0.96REIFX Rems International RealPairCorr
  0.89ALFRX Lord Abbett AlphaPairCorr
  0.94HLFFX Harding Loevner FrontierPairCorr
  0.88PARBX Trowe Price RetirementPairCorr
  0.92ABALX American BalancedPairCorr
  0.97AMECX Income FundPairCorr
  0.8HABDX Harbor Bond FundPairCorr
  0.74MMPCX Mainstay Map EquityPairCorr
  0.94COIYX Conservative IncomePairCorr
  0.95CUSOX Columbia Ultra ShortPairCorr
  0.8BHYCX Blackrock Hi YldPairCorr
  0.89HICOX Colorado BondsharesPairCorr
  0.91EGLAX Eagle Mlp Strategy Steady GrowthPairCorr
  0.81GCFUX Goldman Sachs EPairCorr
  0.76RGVJX Us Government SecuritiesPairCorr
  0.89VWEAX Vanguard High YieldPairCorr
  0.96JARIX James Alpha GlobalPairCorr

Moving against Nicholas Mutual Fund

  0.67NICSX Nicholas FundPairCorr
  0.59NNLEX Nicholas EditionPairCorr
  0.56NCLEX Nicholas EditionPairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

There is a big difference between Nicholas Mutual Fund performing well and Nicholas Equity 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 Nicholas Equity'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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