Nicholas Equity Correlations

NSEIX Fund

USD 22.51 0.36 1.57%

The current 90-days correlation between Nicholas Equity Income and Nicholas Ltd Edition is 0.07 (i.e., Significant 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

Poor diversification

The correlation between Nicholas Equity Income and DJI is 0.71 (i.e., 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

0.96	NCLEX	Nicholas Edition	Pair Corr
0.89	NCTWX	Nicholas Ii	Pair Corr
0.8	NICSX	Nicholas Fund	Pair Corr
0.86	NNLEX	Nicholas Edition	Pair Corr
0.89	NNTWX	Nicholas Ii	Pair Corr
0.95	VVIAX	Vanguard Value Index	Pair Corr
0.9	AWSHX	Washington Mutual	Pair Corr
0.9	WSHCX	Washington Mutual	Pair Corr
0.9	WSHFX	Washington Mutual	Pair Corr
0.9	FWWMX	American Funds Washington	Pair Corr
0.9	FWMMX	American Funds Washington	Pair Corr
0.94	DODGX	Dodge Stock Fund	Pair Corr
0.88	AMFFX	American Mutual	Pair Corr
0.88	AMFCX	American Mutual	Pair Corr
0.79	GAAKX	Gmo Alternative Allo	Pair Corr
0.79	GAAGX	Gmo Alternative Allo	Pair Corr
0.94	GPMFX	Guidepath Managed Futures	Pair Corr
0.89	PQTAX	Pimco Trends Managed	Pair Corr
0.9	PQTNX	Pimco Trends Managed	Pair Corr
0.9	PQTIX	Aa Pimco Tr	Pair Corr
0.85	WARCX	Wells Fargo Advantage	Pair Corr
0.76	GAB	Gabelli Equity Trust	Pair Corr
0.91	FKIQX	Franklin Income	Pair Corr
0.82	FIKTX	Frost Kempner Treasury	Pair Corr
0.82	JDBAX	Janus Balanced	Pair Corr
0.73	HNCAX	Hartford Interna	Pair Corr
0.89	ODIYX	Oppenheimer Discovery	Pair Corr
0.81	AMEIX	Equity Growth	Pair Corr
0.72	PFGKX	Pioneer Fundamental	Pair Corr
0.78	MACEX	Martin Currie Emerging	Pair Corr
0.91	VFFVX	Vanguard Target Reti	Pair Corr
0.88	PHYMX	Putnam High Yield	Pair Corr
0.85	SCRYX	Small Cap Core	Pair Corr
0.85	BWLAX	American Beacon Bridgeway	Pair Corr
0.85	PHSAX	Pimco High Yield	Pair Corr
0.82	GSPQX	Goldman Sachs Equity Potential Growth	Pair Corr
0.72	VWENX	Vanguard Wellington	Pair Corr

Moving against Nicholas Mutual Fund

0.44

AMRMX

American Mutual

Pair Corr

Related Correlations Analysis

	NSEIX	NCLEX	NCTWX	NICSX	NNLEX	NNTWX
NSEIX		0.96	0.89	0.8	0.86	0.89	NSEIX
NCLEX	0.96		0.83	0.89	0.78	0.83	NCLEX
NCTWX	0.89	0.83		0.7	0.96	1.0	NCTWX
NICSX	0.8	0.89	0.7		0.56	0.69	NICSX
NNLEX	0.86	0.78	0.96	0.56		0.96	NNLEX
NNTWX	0.89	0.83	1.0	0.69	0.96		NNTWX
	NSEIX	NCLEX	NCTWX	NICSX	NNLEX	NNTWX

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
NSEIX	0.52	0.02	0.00	0.10	0.56	(0.56)	1.26	(0.98)	3.18
NCLEX	0.83	0.15	0.12	0.73	0.66	(1.05)	2.22	(1.09)	8.95
NCTWX	0.67	(0.04)	(0.05)	0.02	0.79	(0.72)	1.67	(1.19)	3.30
NICSX	0.59	0.06	0.01	0.66	0.62	(0.63)	1.28	(1.16)	4.41
NNLEX	0.72	(0.04)	(0.04)	0.03	0.88	(0.83)	1.55	(1.29)	4.41
NNTWX	0.67	(0.04)	(0.05)	0.02	0.78	(0.74)	1.65	(1.18)	3.29

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