Amana Income Correlations

AMANX Fund

USD 64.11 0.14 0.22%

The current 90-days correlation between Amana Income and Amana Growth Fund is 0.86 (i.e., Very poor diversification). The correlation of Amana 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.

Amana Income Correlation With Market

Average diversification

The correlation between Amana Income Fund and DJI is 0.1 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Amana Income Fund and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Amana 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 board of governors.

Moving together with Amana Mutual Fund

0.69	VTSAX	Vanguard Total Stock	Pair Corr
0.72	VFIAX	Vanguard 500 Index	Pair Corr
0.69	VTSMX	Vanguard Total Stock	Pair Corr
0.69	VITSX	Vanguard Total Stock	Pair Corr
0.69	VSMPX	Vanguard Total Stock	Pair Corr
0.69	VSTSX	Vanguard Total Stock	Pair Corr
0.72	VFINX	Vanguard 500 Index	Pair Corr
0.72	VFFSX	Vanguard 500 Index	Pair Corr
0.71	VIIIX	Vanguard Institutional	Pair Corr
0.63	ERH	Allspring Utilities And	Pair Corr
0.61	CSJZX	Cohen Steers Realty	Pair Corr
0.61	CSRSX	Cohen Steers Realty	Pair Corr
0.85	JPM	JPMorgan Chase	Pair Corr

Moving against Amana Mutual Fund

0.7

MRK

Merck Company

Pair Corr

Related Correlations Analysis

	AMAGX	AMDWX	IMANX	ADJEX	AMIGX
AMAGX		0.9	0.94	0.93	1.0	AMAGX
AMDWX	0.9		0.86	0.84	0.9	AMDWX
IMANX	0.94	0.86		0.93	0.94	IMANX
ADJEX	0.93	0.84	0.93		0.93	ADJEX
AMIGX	1.0	0.9	0.94	0.93		AMIGX
	AMAGX	AMDWX	IMANX	ADJEX	AMIGX

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Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Amana Mutual Fund performing well and Amana 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 Amana 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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
AMAGX	0.85	(0.13)	4.63	1.30	(2.01)	5.16
AMDWX	0.68	(0.06)	(2.59)	1.17	(1.56)	4.58
IMANX	0.83	(0.13)	1.22	1.41	(2.12)	4.73
ADJEX	0.84	(0.15)	12.78	1.68	(2.07)	4.40
AMIGX	0.85	(0.13)	4.68	1.30	(2.00)	5.15

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