Equity Income Correlations

Mutual Funds . USA . 
Fund . Equity Income Fund
TWEIX Fund  USD 8.71  0.03  0.35%   
The current 90-days correlation between Equity Income and Gabelli Equity Trust is 0.12 (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 0.84 (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 World Market Map 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

  0.83TWACX Short Term GovernmentPairCorr
  0.98TWADX Value Fund APairCorr
  0.96TWCCX Ultra Fund CPairCorr
  0.92TWCAX Select Fund APairCorr
  0.95TWCIX Select Fund InvestorPairCorr
  0.84TWARX Short Term GovernmentPairCorr
  0.84TWAVX Short Term GovernmentPairCorr
  1.0AMVYX Mid Cap ValuePairCorr
  0.98TWEAX Equity IncomePairCorr
  0.97TWGGX Global GrowthPairCorr
  0.72TWMIX Emerging MarketsPairCorr
  0.75TWTCX Intermediate Term TaxPairCorr
  0.8TWTIX Intermediate Term TaxPairCorr
  0.93TWSAX Strategic Allocation:PairCorr
  0.93TWSMX Strategic Allocation:PairCorr
  0.94TWSIX Select Fund IPairCorr
  0.98TWVLX Value Fund InvestorPairCorr
  0.91TWUAX Ultra Fund APairCorr
  0.94TWUIX Ultra Fund IPairCorr
  0.96ANOGX Small Cap GrowthPairCorr
  0.96ANOHX American Century SmallPairCorr
  0.98ANOCX Small Cap GrowthPairCorr
  0.96ANODX Small Cap GrowthPairCorr
  0.95ANOAX Small Cap GrowthPairCorr
  0.96ANOYX Small Cap GrowthPairCorr
  0.85ANTMX Nt International SmallPairCorr
  0.97ANVHX American Century NonPairCorr
  0.91AOCIX One Choice PortfolioPairCorr
  0.92AOGIX One Choice PortfolioPairCorr
  0.92AOMIX One Choice PortfolioPairCorr
  0.79AONIX One Choice PortfolioPairCorr
  0.63BCHYX California High YieldPairCorr
  0.88BULIX Utilities Fund InvestorPairCorr
  0.92ARCRX One Choice 2030PairCorr
  0.92AREVX One Choice 2055PairCorr
  0.92ARDVX One Choice 2040PairCorr

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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