Equity Income Correlations

Mutual Funds . USA . 
Fund . Equity Income Fund
TWEAX Fund  USD 8.80  0.01  0.11%   
The current 90-days correlation between Equity Income and Mid Cap Value is -0.25 (i.e., Very good 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 0.83 (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 nation.

Moving together with Equity Mutual Fund

  0.93AMDVX Mid Cap ValuePairCorr
  0.96AMEIX Equity GrowthPairCorr
  0.98AMGIX Income GrowthPairCorr
  0.68CDBCX Diversified BondPairCorr
  0.95AMKIX Emerging MarketsPairCorr
  0.66TWACX Short Term GovernmentPairCorr
  0.95TWADX Value Fund APairCorr
  0.94TWCCX Ultra Fund CPairCorr
  0.93TWCAX Select Fund APairCorr
  0.95TWCIX Select Fund InvestorPairCorr
  0.95TWCGX Growth Fund InvestorPairCorr
  0.68TWARX Short Term GovernmentPairCorr
  0.74TWAVX Short Term GovernmentPairCorr
  0.98AMVYX Mid Cap ValuePairCorr
  0.93AMVRX Mid Cap ValuePairCorr
  0.96TWBIX Balanced Fund InvestorPairCorr
  0.93AMVGX Mid Cap ValuePairCorr
  0.95TWEIX Equity IncomePairCorr
  0.94TWCUX Ultra Fund InvestorPairCorr
  0.82TWGAX International GrowthPairCorr
  0.95TWGIX Growth Fund IPairCorr
  0.93TWGGX Global GrowthPairCorr
  0.83TWIEX International GrowthPairCorr
  0.92TWHIX Heritage Fund InvestorPairCorr
  0.95TWMIX Emerging MarketsPairCorr
  0.95TWRCX Growth Fund CPairCorr
  0.81TWTCX Intermediate Term TaxPairCorr
  0.85TWTIX Intermediate Term TaxPairCorr
  0.94TWSCX Strategic Allocation:PairCorr
  0.93TWSAX Strategic Allocation:PairCorr
  0.93TWSMX Strategic Allocation:PairCorr
  0.95TWSIX Select Fund IPairCorr
  0.75TWUSX Short Term GovernmentPairCorr
  0.99TWVLX Value Fund InvestorPairCorr
  0.92TWUAX Ultra Fund APairCorr
  0.94TWUIX Ultra Fund IPairCorr
  0.75TWUOX Short Term GovernmentPairCorr
  0.85TWWOX Intermediate Term TaxPairCorr
  0.95NPHIX High Income FundPairCorr

Related Correlations Analysis

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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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
AMDVX  0.71  0.15  0.00 (1.10) 0.73 
(0.76)
 1.96 
(1.39)
 4.36 
AMEIX  0.67  0.12  0.12  0.25  0.56 
(0.74)
 2.06 
(1.41)
 5.23 
AMGIX  0.62  0.04  0.02  0.17  0.58 
(0.71)
 1.64 
(1.20)
 4.39 
CDBCX  0.27  0.02 (0.29)(8.10) 0.24 
(0.33)
 0.56 
(0.44)
 1.46 
AMKIX  0.54  0.21  0.19  0.59  0.00 
(0.65)
 1.73 
(1.07)
 4.10 
TWACX  0.10  0.00 (0.87) 0.33  0.00 
(0.17)
 0.22 
(0.22)
 0.56 
TWADX  0.66  0.16  0.01 (1.05) 0.64 
(0.75)
 1.63 
(1.08)
 3.73 
TWCCX  0.85  0.14  0.13  0.26  0.77 
(0.95)
 2.46 
(1.34)
 6.00 
TWCAX  0.85  0.29  0.14 (3.46) 0.74 
(1.01)
 2.56 
(1.36)
 6.01 
TWCIX  0.85  0.14  0.14  0.26  0.73 
(0.98)
 2.56 
(1.36)
 6.01 

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