Growth Income Correlations

UIGIX Fund

USD 24.01 0.04 0.17%

The current 90-days correlation between Growth Income and Morgan Stanley Government is 0.22 (i.e., Modest diversification). The correlation of Growth 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.

Growth Income Correlation With Market

Good diversification

The correlation between Growth Income Fund and DJI is -0.08 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Growth 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 Growth 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 Growth Mutual Fund

0.85	UICGX	Capital Growth	Pair Corr
0.69	UIEMX	Emerging Markets	Pair Corr
0.81	UIHIX	High Income Fund	Pair Corr
0.87	UIGRX	Growth Fund Growth	Pair Corr
0.9	UIISX	Income Stock	Pair Corr
0.92	UISCX	Small Cap Stock	Pair Corr
0.88	UIVAX	Value Fund Value	Pair Corr
0.97	UIWGX	World Growth	Pair Corr
0.78	URHIX	High Income Fund	Pair Corr
0.79	URNQX	Nasdaq 100 Index	Pair Corr
0.91	USPRX	Sp 500 Index	Pair Corr
0.97	UTMAX	Target Managed Allocation	Pair Corr
0.83	UGOFX	Global Managed Volatility	Pair Corr
0.94	UIAGX	Aggressive Growth	Pair Corr
1.0	VTSAX	Vanguard Total Stock	Pair Corr
1.0	VFIAX	Vanguard 500 Index	Pair Corr
1.0	VTSMX	Vanguard Total Stock	Pair Corr
0.91	VITSX	Vanguard Total Stock	Pair Corr
1.0	VSMPX	Vanguard Total Stock	Pair Corr
1.0	VSTSX	Vanguard Total Stock	Pair Corr
1.0	VFINX	Vanguard 500 Index	Pair Corr
1.0	VFFSX	Vanguard 500 Index	Pair Corr
0.91	VINIX	Vanguard Institutional	Pair Corr
0.91	VIIIX	Vanguard Institutional	Pair Corr
0.69	RYMEX	Commodities Strategy	Pair Corr
0.67	RYMJX	Commodities Strategy	Pair Corr
0.69	RYMBX	Commodities Strategy	Pair Corr

Moving against Growth Mutual Fund

0.53	UIPMX	Precious Metals And Steady Growth	Pair Corr
0.38	URSBX	Short Term Bond	Pair Corr

Related Correlations Analysis

	USGCX	ICAXX	TWACX	GABTX	BCHIX
USGCX		0.0	0.26	-0.17	0.42	USGCX
ICAXX	0.0		0.0	0.0	0.0	ICAXX
TWACX	0.26	0.0		-0.66	-0.52	TWACX
GABTX	-0.17	0.0	-0.66		0.56	GABTX
BCHIX	0.42	0.0	-0.52	0.56		BCHIX
	USGCX	ICAXX	TWACX	GABTX	BCHIX

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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

BCHIX	+ 0.56	GABTX
BCHIX	+ 0.42	USGCX
TWACX	+ 0.26	USGCX
ICAXX	+ 0.0	USGCX
TWACX	+ 0.0	ICAXX
GABTX	+ 0.0	ICAXX

High negative correlations

GABTX	- 0.66	TWACX
BCHIX	- 0.52	TWACX
GABTX	- 0.17	USGCX
BCHIX	- 0.0	ICAXX
GABTX	- 0.0	ICAXX
TWACX	- 0.0	ICAXX

Risk-Adjusted Indicators

There is a big difference between Growth Mutual Fund performing well and Growth 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 Growth 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 Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
USGCX	0.77	(0.01)	0.06	(0.01)	0.96	(0.81)	1.62	(1.60)	4.24
ICAXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
TWACX	0.11	0.01	0.40	(3.56)	0.00	(0.17)	0.33	(0.22)	0.78
GABTX	0.81	(0.04)	0.00	(0.87)	0.00	0.00	1.43	(1.80)	6.85
BCHIX	0.37	(0.04)	0.00	0.80	0.00	0.00	0.54	(1.49)	4.23

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