Income Fund Correlations

URIFX Fund

USD 11.86 0.02 0.17%

The current 90-days correlation between Income Fund Income and Intermediate Term Bond Fund is 0.81 (i.e., Very poor 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

Very weak diversification

The correlation between Income Fund Income and DJI is 0.53 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Income Fund Income 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 Fund Income. 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 price.

Moving together with Income Mutual Fund

0.76	UIEMX	Emerging Markets	Pair Corr
0.72	UIHIX	High Income Fund	Pair Corr
0.67	UIIFX	International Fund	Pair Corr
0.96	UIGSX	Government Securities	Pair Corr
1.0	UIINX	Income Fund Income	Pair Corr
0.64	UIISX	Income Stock	Pair Corr
0.97	UIITX	Intermediate Term Bond	Pair Corr
0.73	UIPMX	Precious Metals And Steady Growth	Pair Corr
0.81	UISBX	Short Term Bond	Pair Corr
0.65	UISCX	Small Cap Stock	Pair Corr
0.97	URIBX	Intermediate Term Bond	Pair Corr
0.96	URGSX	Government Securities	Pair Corr
0.72	URHIX	High Income Fund	Pair Corr
0.81	URSBX	Short Term Bond	Pair Corr
0.74	URUSX	Ultra Short Term	Pair Corr
0.65	UTMAX	Target Managed Allocation	Pair Corr
0.75	UUSIX	Ultra Short Term	Pair Corr
0.77	UGOFX	Global Managed Volatility	Pair Corr
0.99	DODIX	Dodge Income	Pair Corr
0.99	DOXIX	Dodge Cox Income	Pair Corr
0.97	FIWGX	Strategic Advisers	Pair Corr
0.95	MWTNX	Metropolitan West Total	Pair Corr
0.95	MWTSX	Metropolitan West Total	Pair Corr
0.98	PTTPX	Pimco Total Return	Pair Corr
0.98	PTRRX	Total Return	Pair Corr
0.98	PTRAX	Total Return	Pair Corr
0.98	PTTRX	Total Return	Pair Corr
0.98	PDBSX	Prudential Total Return	Pair Corr

Moving against Income Mutual Fund

0.74	UIGRX	Growth Fund Growth	Pair Corr
0.69	UIAGX	Aggressive Growth	Pair Corr

Related Correlations Analysis

	UICGX	UIEMX	UIHIX	UIIFX	UIGIX	UIGSX	UIGRX	UIISX	UIITX
UICGX		0.92	0.89	0.98	0.99	0.68	-0.37	0.98	0.53	UICGX
UIEMX	0.92		0.96	0.97	0.88	0.86	-0.58	0.94	0.74	UIEMX
UIHIX	0.89	0.96		0.93	0.87	0.82	-0.47	0.92	0.71	UIHIX
UIIFX	0.98	0.97	0.93		0.96	0.78	-0.5	0.99	0.64	UIIFX
UIGIX	0.99	0.88	0.87	0.96		0.64	-0.31	0.97	0.48	UIGIX
UIGSX	0.68	0.86	0.82	0.78	0.64		-0.74	0.76	0.97	UIGSX
UIGRX	-0.37	-0.58	-0.47	-0.5	-0.31	-0.74		-0.51	-0.73	UIGRX
UIISX	0.98	0.94	0.92	0.99	0.97	0.76	-0.51		0.62	UIISX
UIITX	0.53	0.74	0.71	0.64	0.48	0.97	-0.73	0.62		UIITX
	UICGX	UIEMX	UIHIX	UIIFX	UIGIX	UIGSX	UIGRX	UIISX	UIITX

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

UIGIX	+ 0.99	UICGX
UIISX	+ 0.99	UIIFX
UIIFX	+ 0.98	UICGX
UIISX	+ 0.98	UICGX
UIIFX	+ 0.97	UIEMX
UIISX	+ 0.97	UIGIX

High negative correlations

UIGRX	- 0.74	UIGSX
UIITX	- 0.73	UIGRX
UIGRX	- 0.58	UIEMX
UIISX	- 0.51	UIGRX
UIGRX	- 0.5	UIIFX
UIGRX	- 0.47	UIHIX

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
UICGX	0.66	0.26	0.32	0.55	0.03	(0.84)	1.07	(1.01)	11.34
UIEMX	0.76	0.35	0.39	0.71	0.00	(0.94)	2.15	(1.09)	7.16
UIHIX	0.08	0.01	(0.41)	0.27	0.00	(0.16)	0.15	(0.15)	0.44
UIIFX	0.68	0.37	0.46	0.86	0.00	(0.84)	1.49	(1.25)	11.17
UIGIX	0.55	0.15	0.19	0.34	0.29	(0.68)	1.08	(0.73)	8.57
UIGSX	0.13	0.02	(0.35)	3.28	0.00	(0.18)	0.33	(0.22)	0.67
UIGRX	0.70	(0.09)	0.00	(0.03)	0.00	0.00	1.27	(1.77)	4.44
UIISX	0.62	0.23	0.31	0.49	0.00	(0.80)	1.41	(0.93)	9.57
UIITX	0.14	0.02	(0.30)	2.34	0.00	(0.20)	0.32	(0.22)	0.76

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