Income Stock Correlations

UIISX Fund

USD 21.94 0.19 0.87%

The current 90-days correlation between Income Stock and Capital Growth Fund is 0.76 (i.e., Poor diversification). The correlation of Income Stock 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 Stock Correlation With Market

Almost no diversification

The correlation between Income Stock Fund and DJI is 0.9 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Income Stock 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 Income Stock 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 state.

Moving together with Income Mutual Fund

0.87	UICGX	Capital Growth	Pair Corr
0.68	UIHIX	High Income Fund	Pair Corr
0.97	UIGIX	Growth Income	Pair Corr
0.89	UIGRX	Growth Fund Growth	Pair Corr
0.9	UISCX	Small Cap Stock	Pair Corr
0.99	UIVAX	Value Fund Value	Pair Corr
0.87	UIWGX	World Growth	Pair Corr
0.68	URHIX	High Income Fund	Pair Corr
0.89	URNQX	Nasdaq 100 Index	Pair Corr
0.66	URUSX	Ultra Short Term	Pair Corr
0.93	USPRX	Sp 500 Index	Pair Corr
0.87	UTMAX	Target Managed Allocation	Pair Corr
0.68	UUSIX	Ultra Short Term	Pair Corr
0.81	UGOFX	Global Managed Volatility	Pair Corr
0.9	UIAGX	Aggressive Growth	Pair Corr
0.97	VVIAX	Vanguard Value Index	Pair Corr
0.96	DOXGX	Dodge Cox Stock	Pair Corr
0.9	AFMFX	American Mutual	Pair Corr
0.9	FFMMX	American Funds American	Pair Corr
0.9	FFFMX	American Funds American	Pair Corr
0.9	AMRMX	American Mutual	Pair Corr
0.9	AMFFX	American Mutual	Pair Corr
0.89	AMFCX	American Mutual	Pair Corr
0.96	DODGX	Dodge Stock Fund	Pair Corr
0.97	VIVAX	Vanguard Value Index	Pair Corr

Moving against Income Mutual Fund

0.68	UIITX	Intermediate Term Bond	Pair Corr
0.66	UIGSX	Government Securities	Pair Corr
0.66	URIBX	Intermediate Term Bond	Pair Corr
0.66	URGSX	Government Securities	Pair Corr
0.64	URIFX	Income Fund Income	Pair Corr
0.63	UIINX	Income Fund Income	Pair Corr
0.96	UIPIX	Ultrashort Mid Cap	Pair Corr
0.89	USPSX	Profunds Ultrashort Potential Growth	Pair Corr
0.89	USPIX	Profunds Ultrashort Potential Growth	Pair Corr

Related Correlations Analysis

	UICGX	UIEMX	UIHIX	UIIFX	UIGIX	UIGSX	UIGRX	UIINX	UIITX
UICGX		0.56	0.7	0.18	0.87	-0.45	0.78	-0.4	-0.47	UICGX
UIEMX	0.56		0.42	0.76	0.17	0.14	0.06	0.18	0.12	UIEMX
UIHIX	0.7	0.42		-0.04	0.73	-0.32	0.71	-0.22	-0.3	UIHIX
UIIFX	0.18	0.76	-0.04		-0.32	0.65	-0.44	0.66	0.62	UIIFX
UIGIX	0.87	0.17	0.73	-0.32		-0.73	0.97	-0.68	-0.74	UIGIX
UIGSX	-0.45	0.14	-0.32	0.65	-0.73		-0.77	0.99	1.0	UIGSX
UIGRX	0.78	0.06	0.71	-0.44	0.97	-0.77		-0.72	-0.77	UIGRX
UIINX	-0.4	0.18	-0.22	0.66	-0.68	0.99	-0.72		0.99	UIINX
UIITX	-0.47	0.12	-0.3	0.62	-0.74	1.0	-0.77	0.99		UIITX
	UICGX	UIEMX	UIHIX	UIIFX	UIGIX	UIGSX	UIGRX	UIINX	UIITX

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

UIITX	+ 1.0	UIGSX
UIINX	+ 0.99	UIGSX
UIITX	+ 0.99	UIINX
UIGRX	+ 0.97	UIGIX
UIGIX	+ 0.87	UICGX
UIGRX	+ 0.78	UICGX

High negative correlations

UIITX	- 0.77	UIGRX
UIGRX	- 0.77	UIGSX
UIITX	- 0.74	UIGIX
UIGSX	- 0.73	UIGIX
UIINX	- 0.72	UIGRX
UIINX	- 0.68	UIGIX

Risk-Adjusted Indicators

There is a big difference between Income Mutual Fund performing well and Income Stock 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 Stock'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
UICGX	0.57	(0.05)	(0.11)	0.05	0.67	(0.66)	1.32	(1.03)	3.82
UIEMX	0.73	(0.10)	0.00	(0.09)	0.00	0.00	1.31	(1.82)	4.60
UIHIX	0.10	0.01	(0.42)	0.35	0.00	(0.18)	0.29	(0.14)	1.02
UIIFX	0.66	(0.12)	0.00	(0.11)	0.00	0.00	1.17	(1.65)	4.39
UIGIX	0.53	(0.01)	(0.04)	0.11	0.53	(0.61)	1.23	(1.12)	3.66
UIGSX	0.17	(0.02)	0.00	0.49	0.00	0.00	0.34	(0.45)	1.12
UIGRX	0.73	0.03	0.01	0.15	0.99	(0.71)	1.72	(2.02)	5.06
UIINX	0.19	(0.02)	0.00	0.58	0.00	0.00	0.43	(0.52)	1.13
UIITX	0.19	(0.02)	0.00	0.44	0.00	0.00	0.43	(0.43)	1.20

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