Nicholas Equity Correlations

NSEIX Fund

USD 23.50 0.01 0.04%

The current 90-days correlation between Nicholas Equity Income and Rbb Fund is 0.56 (i.e., Very weak 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

Almost no diversification

The correlation between Nicholas Equity Income and DJI is 0.93 (i.e., Almost no 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

0.85	NCLEX	Nicholas Edition	Pair Corr
0.8	NCTWX	Nicholas Ii	Pair Corr
0.74	NICSX	Nicholas Fund	Pair Corr
0.8	NNTWX	Nicholas Ii	Pair Corr
0.99	VVIAX	Vanguard Value Index	Pair Corr
0.92	AWSHX	Washington Mutual	Pair Corr
0.91	WSHCX	Washington Mutual	Pair Corr
0.92	WSHFX	Washington Mutual	Pair Corr
0.92	FWWMX	American Funds Washington	Pair Corr
0.92	FWMMX	American Funds Washington	Pair Corr
0.94	DODGX	Dodge Stock Fund	Pair Corr
0.91	AMFFX	American Mutual	Pair Corr
0.91	AMFCX	American Mutual	Pair Corr
0.84	SMPIX	Semiconductor Ultrasector	Pair Corr
0.85	SMPSX	Semiconductor Ultrasector	Pair Corr
0.89	PMPIX	Precious Metals Ultr Steady Growth	Pair Corr
0.88	PMPSX	Precious Metals Ultr Steady Growth	Pair Corr
0.91	FGADX	Franklin Gold Precious	Pair Corr
0.91	FGPMX	Franklin Gold And	Pair Corr
0.91	OCMGX	Ocm Mutual Fund	Pair Corr
0.91	INIYX	International Investors	Pair Corr
0.84	FKRCX	Franklin Gold Precious	Pair Corr
0.91	OCMAX	Ocm Mutual Fund	Pair Corr
0.81	INISX	Federated Intermediate	Pair Corr
0.78	OGLCX	Oppenheimer Global	Pair Corr
0.89	HNLVX	Harbor Large Cap	Pair Corr
0.97	PGFEX	Pgim Enhanced Retirement	Pair Corr
0.96	NSITX	Northern Short-intermedia	Pair Corr
0.96	NTAUX	Northern Tax Advantaged	Pair Corr
0.96	CFJAX	Calvert Large Cap	Pair Corr
0.79	PFRCX	Foreign Bond	Pair Corr
0.94	PFRMX	Pimco Inflation Response	Pair Corr
0.9	SGMAX	Siit Global Managed	Pair Corr
0.9	OIEPX	Jpmorgan Equity Income	Pair Corr
0.94	CAGIX	Calvert Aggressive	Pair Corr
0.96	TBLKX	T Rowe Price	Pair Corr
0.94	PGDRX	Diversified Real Asset	Pair Corr

Moving against Nicholas Mutual Fund

0.38

AMRMX

American Mutual

Pair Corr

Related Correlations Analysis

	FFCGX	IEMSX	LMUSX	CPUCX	FIJFX	VOLJX	IAADX	OPTCX
FFCGX		0.88	0.9	0.77	0.96	0.84	0.93	0.94	FFCGX
IEMSX	0.88		0.66	0.65	0.91	0.52	0.95	0.74	IEMSX
LMUSX	0.9	0.66		0.69	0.84	0.91	0.81	0.93	LMUSX
CPUCX	0.77	0.65	0.69		0.77	0.66	0.73	0.76	CPUCX
FIJFX	0.96	0.91	0.84	0.77		0.71	0.97	0.91	FIJFX
VOLJX	0.84	0.52	0.91	0.66	0.71		0.63	0.87	VOLJX
IAADX	0.93	0.95	0.81	0.73	0.97	0.63		0.87	IAADX
OPTCX	0.94	0.74	0.93	0.76	0.91	0.87	0.87		OPTCX
	FFCGX	IEMSX	LMUSX	CPUCX	FIJFX	VOLJX	IAADX	OPTCX

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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
FFCGX	0.57	0.05	0.03	0.15	0.63	(0.59)	1.07	(1.21)	2.84
IEMSX	0.72	0.20	0.10	3.03	0.83	(0.81)	1.79	(1.79)	5.04
LMUSX	0.64	0.03	0.00	0.12	0.72	(0.68)	1.56	(1.07)	4.94
CPUCX	0.14	0.01	(0.33)	0.20	0.07	(0.18)	0.32	(0.32)	0.75
FIJFX	0.95	0.25	0.20	0.32	0.87	(1.06)	2.11	(1.73)	5.59
VOLJX	0.62	(0.05)	(0.06)	0.03	0.85	(0.68)	1.39	(1.40)	4.25
IAADX	0.15	0.07	(0.07)	(2.32)	0.00	(0.21)	0.42	(0.21)	1.03
OPTCX	0.14	0.00	(0.31)	0.10	0.00	(0.20)	0.30	(0.30)	1.00

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