Equity Income Correlations

PQIAX Fund

USD 42.15 0.01 0.02%

The current 90-days correlation between Equity Income and Neuberger Berman Genesis is 0.19 (i.e., Average 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 0.8 (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 nation.

Moving together with Equity Mutual Fund

0.93	VVIAX	Vanguard Value Index	Pair Corr
0.93	AWSHX	Washington Mutual	Pair Corr
0.93	WSHCX	Washington Mutual	Pair Corr
0.87	WSHFX	Washington Mutual	Pair Corr
0.93	FWWMX	American Funds Washington	Pair Corr
0.93	FWMMX	American Funds Washington	Pair Corr
0.94	DODGX	Dodge Stock Fund	Pair Corr
0.81	AMFFX	American Mutual	Pair Corr
0.82	AMFCX	American Mutual	Pair Corr
0.94	FSMMX	Fs Multi Strategy	Pair Corr
0.89	BTMPX	Ishares Msci Eafe	Pair Corr
0.88	BTMKX	Blackrock International	Pair Corr
0.88	MDIIX	Blackrock Intern Index	Pair Corr
0.69	SPMPX	Invesco Steelpath Mlp	Pair Corr
0.69	MLPNX	Oppenheimer Steelpath Mlp	Pair Corr
0.69	MLPMX	Oppenheimer Steelpath Mlp	Pair Corr
0.69	SPMJX	Invesco Steelpath Mlp	Pair Corr
0.82	BA	Boeing	Pair Corr
0.61	DIS	Walt Disney Earnings Call This Week	Pair Corr
0.79	AA	Alcoa Corp	Pair Corr

Moving against Equity Mutual Fund

0.61	AMRMX	American Mutual	Pair Corr
0.65	T	ATT Inc Earnings Call This Week	Pair Corr
0.34	MMM	3M Company	Pair Corr
0.32	MSFT	Microsoft	Pair Corr

Related Correlations Analysis

	INPFX	TQAAX	TRLIX	MGRAX	TQAIX	MGRDX	HSWYX	NBGNX	NBGEX	NBGIX
INPFX		0.94	0.91	0.92	0.94	0.92	0.88	0.87	0.87	0.87	INPFX
TQAAX	0.94		0.85	0.84	1.0	0.85	0.85	0.81	0.81	0.81	TQAAX
TRLIX	0.91	0.85		0.95	0.85	0.95	0.81	0.98	0.98	0.98	TRLIX
MGRAX	0.92	0.84	0.95		0.85	1.0	0.9	0.95	0.95	0.95	MGRAX
TQAIX	0.94	1.0	0.85	0.85		0.85	0.85	0.82	0.82	0.82	TQAIX
MGRDX	0.92	0.85	0.95	1.0	0.85		0.9	0.95	0.95	0.95	MGRDX
HSWYX	0.88	0.85	0.81	0.9	0.85	0.9		0.78	0.78	0.78	HSWYX
NBGNX	0.87	0.81	0.98	0.95	0.82	0.95	0.78		1.0	1.0	NBGNX
NBGEX	0.87	0.81	0.98	0.95	0.82	0.95	0.78	1.0		1.0	NBGEX
NBGIX	0.87	0.81	0.98	0.95	0.82	0.95	0.78	1.0	1.0		NBGIX
	INPFX	TQAAX	TRLIX	MGRAX	TQAIX	MGRDX	HSWYX	NBGNX	NBGEX	NBGIX

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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	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
INPFX	0.26	0.04	0.01	0.16	0.22	(0.30)	0.57	(0.49)	1.69
TQAAX	0.84	0.04	0.04	0.09	0.97	(0.93)	1.77	(1.61)	4.01
TRLIX	0.65	0.22	0.31	0.38	0.18	(0.79)	1.36	(1.06)	8.53
MGRAX	0.57	0.14	0.19	0.31	0.36	(0.72)	1.18	(0.98)	4.66
TQAIX	0.84	0.04	0.04	0.09	0.97	(0.91)	1.80	(1.60)	4.00
MGRDX	0.58	0.13	0.18	0.31	0.36	(0.72)	1.18	(0.97)	4.65
HSWYX	0.59	0.02	0.01	0.08	0.76	(0.60)	1.20	(1.49)	3.13
NBGNX	1.12	0.34	0.42	0.39	0.27	(1.45)	2.11	(1.22)	19.74
NBGEX	1.12	0.34	0.42	0.40	0.28	(1.46)	2.12	(1.24)	19.88
NBGIX	1.11	0.34	0.42	0.39	0.28	(1.45)	2.10	(1.23)	19.63

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