Equity Income Correlations

Mutual Funds . USA . 
Fund . Equity Income Fund
JHEIX Fund  USD 21.05  0.09  0.43%   
The current 90-days correlation between Equity Income and Europac Gold Fund is 0.08 (i.e., Significant 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 0.86 (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 Risk vs Return Analysis 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

  0.79FRBAX Regional BankPairCorr
  0.79FRBCX Regional BankPairCorr
  0.74JQLBX Multimanager LifestylePairCorr
  0.79JQLAX Multimanager LifestylePairCorr
  0.82JQLGX Multimanager LifestylePairCorr
  0.79JRBFX Regional BankPairCorr
  0.78JRETX J Hancock IiPairCorr
  0.79JRGRX Regional BankPairCorr
  0.82JRLQX Retirement Living ThroughPairCorr
  0.82JRLUX Multi Index 2045PairCorr
  0.83JRLWX Retirement Living ThroughPairCorr
  0.75JRLVX Retirement Living ThroughPairCorr
  0.76JRLZX Retirement Living ThroughPairCorr
  0.84JROUX J Hancock IiPairCorr
  0.83JRODX J Hancock IiPairCorr
  0.77JAAFX Jhancock Multi IndexPairCorr
  0.62JAAIX Alternative AssetPairCorr
  0.76JAAKX Jhancock Multi IndexPairCorr
  0.67JAAPX Alternative AssetPairCorr
  0.69JAARX Alternative AssetPairCorr
  0.61JRTGX Retirement Living ThroughPairCorr
  0.67JAASX Alternative AssetPairCorr
  0.68JRTIX Multi Index 2030PairCorr
  0.78JAAVX Jhancock MultimanagerPairCorr
  0.69JRTJX Retirement Living ThroughPairCorr
  0.78JAAWX Jhancock MultimanagerPairCorr

Moving against Equity Mutual Fund

  0.58JABTX John Hancock OpportuPairCorr

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.

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