Equity Income Correlations

Mutual Funds . USA . 
Fund . Equity Income Fund
PEIIX Fund  USD 43.73  0.05  0.11%   
The current 90-days correlation between Equity Income and Dreyfus Natural Resources is -0.14 (i.e., Good 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

  0.91SABPX Strategic Asset ManaPairCorr
  0.91SACAX Strategic Asset ManaPairCorr
  0.91SAGPX Strategic Asset ManaPairCorr
  0.92PFIJX Strategic Asset ManaPairCorr
  0.91PFIEX International EquityPairCorr
  0.92PFIFX Strategic Asset ManaPairCorr
  0.89PFISX International Small PanyPairCorr
  0.92PFIPX Strategic Asset ManaPairCorr
  0.91SAIPX Strategic Asset ManaPairCorr
  0.91PFLJX Principal Lifetime 2050PairCorr
  0.92SAUPX Strategic Asset ManaPairCorr
  0.88PFUMX Finisterre UnconstrainedPairCorr
  0.63PGBLX Global Diversified IncomePairCorr
  0.88PGBEX Blue Chip FundPairCorr
  0.68PGBGX Blue Chip FundPairCorr
  0.87PGBHX Blue Chip FundPairCorr
  0.61PGDIX Global Diversified IncomePairCorr
  0.79PGDRX Diversified Real AssetPairCorr
  0.85STCCX Short Term IncomePairCorr
  0.9PGRTX Smallcap GrowthPairCorr
  0.63PGRUX Global Real EstatePairCorr
  0.62PGRKX Global Real EstatePairCorr
  0.91SCBPX Strategic Asset ManaPairCorr
  0.92SCIPX Strategic Asset ManaPairCorr
  0.9SCGPX Strategic Asset ManaPairCorr
  0.92PHJEX Principal Lifetime HybridPairCorr
  0.92PHJFX Principal Lifetime HybridPairCorr
  0.92PHJBX Principal Lifetime HybridPairCorr
  0.92PHJDX Principal Lifetime HybridPairCorr
  0.92PHJNX Principal Lifetime HybridPairCorr
  0.92PHJQX Principal Lifetime HybridPairCorr
  0.92PHJJX Principal Lifetime HybridPairCorr
  0.92PHJMX Principal Lifetime HybridPairCorr
  0.92PHJYX Principal Lifetime HybridPairCorr
  0.92PHJTX Principal Lifetime HybridPairCorr
  0.91PHJUX Principal Lifetime HybridPairCorr

Related Correlations Analysis


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.

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