Equity Income Correlations

PEIIX Fund

USD 42.23 0.15 0.36%

The current 90-days correlation between Equity Income and Dunham High Yield is 0.27 (i.e., Modest 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 0.89 (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 Your Equity Center 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

0.88	SABPX	Strategic Asset Mana	Pair Corr
0.88	SACAX	Strategic Asset Mana	Pair Corr
0.87	SAGPX	Strategic Asset Mana	Pair Corr
0.87	PFIJX	Strategic Asset Mana	Pair Corr
0.91	PFIEX	International Equity	Pair Corr
0.89	PFIFX	Strategic Asset Mana	Pair Corr
0.91	PFISX	International Small Pany	Pair Corr
0.88	PFIPX	Strategic Asset Mana	Pair Corr
0.88	SAIPX	Strategic Asset Mana	Pair Corr
0.9	PFLJX	Principal Lifetime 2050	Pair Corr
0.87	SAUPX	Strategic Asset Mana	Pair Corr
0.97	PGBGX	Blue Chip Fund	Pair Corr
0.97	PGBHX	Blue Chip Fund	Pair Corr
0.81	PGDRX	Diversified Real Asset	Pair Corr
0.89	STCCX	Short Term Income	Pair Corr
0.91	PGRTX	Smallcap Growth	Pair Corr
0.89	SCBPX	Strategic Asset Mana	Pair Corr
0.89	SCIPX	Strategic Asset Mana	Pair Corr
0.89	SCGPX	Strategic Asset Mana	Pair Corr
0.9	PHJEX	Principal Lifetime Hybrid	Pair Corr
0.89	PHJFX	Principal Lifetime Hybrid	Pair Corr
0.9	PHJGX	Principal Lifetime Hybrid	Pair Corr
0.9	PHJBX	Principal Lifetime Hybrid	Pair Corr
0.9	PHJDX	Principal Lifetime Hybrid	Pair Corr
0.9	PHJNX	Principal Lifetime Hybrid	Pair Corr
0.9	PHJQX	Principal Lifetime Hybrid	Pair Corr
0.9	PHJJX	Principal Lifetime Hybrid	Pair Corr
0.9	PHJMX	Principal Lifetime Hybrid	Pair Corr
0.9	PHJYX	Principal Lifetime Hybrid	Pair Corr
0.9	PHJTX	Principal Lifetime Hybrid	Pair Corr
0.9	PHSPX	Pimco High Yield	Pair Corr
0.9	PHTJX	Principal Lifetime Hybrid	Pair Corr
0.86	SCUPX	Strategic Asset Mana	Pair Corr

Related Correlations Analysis

	AHYMX	TIYRX	CRDOX	JYHRX	LSYFX	NMHYX	DNHYX
AHYMX		0.89	0.89	0.9	0.89	0.78	0.85	AHYMX
TIYRX	0.89		0.96	0.97	0.97	0.95	0.93	TIYRX
CRDOX	0.89	0.96		0.98	0.94	0.95	0.97	CRDOX
JYHRX	0.9	0.97	0.98		0.94	0.95	0.95	JYHRX
LSYFX	0.89	0.97	0.94	0.94		0.94	0.93	LSYFX
NMHYX	0.78	0.95	0.95	0.95	0.94		0.95	NMHYX
DNHYX	0.85	0.93	0.97	0.95	0.93	0.95		DNHYX
	AHYMX	TIYRX	CRDOX	JYHRX	LSYFX	NMHYX	DNHYX

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	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
AHYMX	0.08	0.01	(0.37)	0.50	(0.16)	0.22	(0.11)	0.67
TIYRX	0.13	0.02	(0.26)	1.40	(0.20)	0.34	(0.23)	0.91
CRDOX	0.09	0.02	(0.37)	0.30	(0.15)	0.22	(0.11)	0.55
JYHRX	0.08	0.02	(0.30)	(3.60)	(0.15)	0.15	(0.15)	0.31
LSYFX	0.13	0.02	(0.32)	0.22	(0.22)	0.31	(0.21)	1.14
NMHYX	0.10	0.02	(0.32)	0.79	(0.14)	0.24	(0.12)	0.60
DNHYX	0.12	0.01	(0.30)	0.15	(0.16)	0.23	(0.23)	0.70

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Equity Income Correlations

Equity Income Correlation With Market

Very poor diversification

Moving together with Equity Mutual Fund

Related Correlations Analysis

Risk-Adjusted Indicators

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