Income Fund Correlations

PICNX Fund

USD 8.79 0.04 0.46%

The current 90-days correlation between Income Fund R and Fidelity Series Government is 0.91 (i.e., Almost no diversification). The correlation of Income Fund 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.

Income Fund Correlation With Market

Poor diversification

The correlation between Income Fund R 6 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 Income Fund R 6 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 Income Fund R 6. 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 metropolitan statistical area.

Moving together with Income Mutual Fund

0.68	SABPX	Strategic Asset Mana	Pair Corr
0.68	SACAX	Strategic Asset Mana	Pair Corr
0.68	SAGPX	Strategic Asset Mana	Pair Corr
0.79	PFIJX	Strategic Asset Mana	Pair Corr
0.78	PFIEX	International Equity	Pair Corr
0.83	PFIFX	Strategic Asset Mana	Pair Corr
0.76	PFISX	International Small Pany	Pair Corr
0.79	PFIPX	Strategic Asset Mana	Pair Corr
0.7	SAIPX	Strategic Asset Mana	Pair Corr
0.69	PFLJX	Principal Lifetime 2050	Pair Corr
0.69	PFRSX	Real Estate Securities	Pair Corr
0.78	SAUPX	Strategic Asset Mana	Pair Corr
0.66	PGBLX	Global Diversified Income	Pair Corr
0.66	PGDIX	Global Diversified Income	Pair Corr
0.81	PGDRX	Diversified Real Asset	Pair Corr
0.72	PGLSX	Global Multi Strategy	Pair Corr
0.87	STCCX	Short Term Income	Pair Corr
0.65	PGRTX	Smallcap Growth	Pair Corr
0.85	PGRUX	Global Real Estate	Pair Corr
0.78	PGSLX	Principal Global Sus	Pair Corr
0.85	PGRKX	Global Real Estate	Pair Corr
0.69	SCBPX	Strategic Asset Mana	Pair Corr
0.71	SCIPX	Strategic Asset Mana	Pair Corr
0.67	SCGPX	Strategic Asset Mana	Pair Corr
0.75	PHJEX	Principal Lifetime Hybrid	Pair Corr
0.78	PHJFX	Principal Lifetime Hybrid	Pair Corr
0.74	PHJGX	Principal Lifetime Hybrid	Pair Corr
0.74	PHJBX	Principal Lifetime Hybrid	Pair Corr
0.74	PHJDX	Principal Lifetime Hybrid	Pair Corr
0.76	PHJNX	Principal Lifetime Hybrid	Pair Corr
0.76	PHJQX	Principal Lifetime Hybrid	Pair Corr
0.78	PHJMX	Principal Lifetime Hybrid	Pair Corr
0.73	PHJTX	Principal Lifetime Hybrid	Pair Corr
0.73	PHJUX	Principal Lifetime Hybrid	Pair Corr
0.73	PHSPX	Pimco High Yield	Pair Corr
0.78	PHTFX	Principal Lifetime Hybrid	Pair Corr
0.79	SCUPX	Strategic Asset Mana	Pair Corr

Related Correlations Analysis

	FISAX	SSAGX	DACGX	UGSFX	RGVJX	CGTCX	FITSX	FHNFX
FISAX		0.85	0.7	0.72	0.74	0.63	0.75	0.16	FISAX
SSAGX	0.85		0.81	0.69	0.71	0.57	0.88	0.14	SSAGX
DACGX	0.7	0.81		0.8	0.8	0.83	0.9	0.44	DACGX
UGSFX	0.72	0.69	0.8		0.99	0.82	0.89	0.73	UGSFX
RGVJX	0.74	0.71	0.8	0.99		0.83	0.89	0.72	RGVJX
CGTCX	0.63	0.57	0.83	0.82	0.83		0.73	0.66	CGTCX
FITSX	0.75	0.88	0.9	0.89	0.89	0.73		0.52	FITSX
FHNFX	0.16	0.14	0.44	0.73	0.72	0.66	0.52		FHNFX
	FISAX	SSAGX	DACGX	UGSFX	RGVJX	CGTCX	FITSX	FHNFX

Risk-Adjusted Indicators

There is a big difference between Income Mutual Fund performing well and Income Fund 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 Income Fund'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
FISAX	0.05	0.00	(0.47)	0.12	0.00	(0.20)	0.13	(0.13)	0.40
SSAGX	0.05	0.01	0.00	0.57	0.00	0.00	0.10	(0.10)	0.51
DACGX	0.13	0.00	(0.32)	0.11	0.08	(0.16)	0.24	(0.32)	0.56
UGSFX	0.12	0.01	(0.38)	0.72	0.00	(0.17)	0.33	(0.25)	0.58
RGVJX	0.13	0.01	(0.35)	0.89	0.00	(0.17)	0.33	(0.25)	0.58
CGTCX	0.12	(0.01)	(0.44)	(0.02)	0.10	(0.14)	0.25	(0.17)	0.58
FITSX	0.15	0.02	(0.29)	0.40	0.00	(0.22)	0.33	(0.22)	0.77
FHNFX	0.14	0.00	(0.34)	0.09	0.10	(0.19)	0.33	(0.32)	0.65

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Income Fund Correlations

Income Fund Correlation With Market

Poor diversification

Moving together with Income Mutual Fund

Related Correlations Analysis

Risk-Adjusted Indicators

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