Equity Income Correlations

Mutual Funds . USA . 
Fund . Equity Income Fund
TWEIX Fund  USD 8.99  0.07  0.78%   
The current 90-days correlation between Equity Income and Value Fund Investor is 0.95 (i.e., Almost no 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 0.81 (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

  0.95AMDVX Mid Cap ValuePairCorr
  0.74AMEIX Equity GrowthPairCorr
  0.85AMGIX Income GrowthPairCorr
  0.64AMKIX Emerging MarketsPairCorr
  0.66TWACX Short Term GovernmentPairCorr
  0.89TWADX Value Fund APairCorr
  0.66TWCCX Ultra Fund CPairCorr
  0.63TWCAX Select Fund APairCorr
  0.66TWCIX Select Fund InvestorPairCorr
  0.66TWCGX Growth Fund InvestorPairCorr
  0.64TWARX Short Term GovernmentPairCorr
  0.66TWAVX Short Term GovernmentPairCorr
  0.94AMVRX Mid Cap ValuePairCorr
  0.75TWBIX Balanced Fund InvestorPairCorr
  0.89TWEAX Equity IncomePairCorr
  0.67TWCUX Ultra Fund InvestorPairCorr
  0.66TWGIX Growth Fund IPairCorr
  0.66TWIEX International GrowthPairCorr
  0.64TWMIX Emerging MarketsPairCorr
  0.66TWRCX Growth Fund CPairCorr
  0.8TWSCX Strategic AllocationPairCorr
  0.83TWSAX Strategic AllocationPairCorr
  0.81TWSMX Strategic Allocation:PairCorr
  0.66TWSIX Select Fund IPairCorr
  0.64TWUSX Short Term GovernmentPairCorr
  0.97TWVLX Value Fund InvestorPairCorr
  0.63TWUAX Ultra Fund A Potential GrowthPairCorr
  0.67TWUIX Ultra Fund IPairCorr
  0.64TWUOX Short Term GovernmentPairCorr
  0.77ANORX Small Cap GrowthPairCorr
  0.72ANONX Small Cap GrowthPairCorr

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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