Equity Income Correlations

PEIIX Fund

USD 40.56 0.12 0.29%

The current 90-days correlation between Equity Income and Bbh Intermediate Municipal is -0.03 (i.e., 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 weak diversification

The correlation between Equity Income Fund and DJI is 0.45 (i.e., Very weak 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 Your Equity Center 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

0.77	VVIAX	Vanguard Value Index	Pair Corr
0.81	DOXGX	Dodge Cox Stock	Pair Corr
0.91	AFMFX	American Mutual	Pair Corr
0.91	FFMMX	American Funds American	Pair Corr
0.91	FFFMX	American Funds American	Pair Corr
0.91	AMRMX	American Mutual	Pair Corr
0.81	AMFFX	American Mutual	Pair Corr
0.91	AMFCX	American Mutual	Pair Corr
0.91	DODGX	Dodge Stock Fund	Pair Corr
0.83	VIVAX	Vanguard Value Index	Pair Corr
0.83	IFN	India Closed	Pair Corr
0.79	HPQ	HP Inc	Pair Corr
0.79	INTC	Intel Earnings Call Today	Pair Corr
0.73	DD	Dupont De Nemours Fiscal Year End 4th of February 2025	Pair Corr
0.75	TRV	The Travelers Companies	Pair Corr
0.89	AA	Alcoa Corp	Pair Corr

Moving against Equity Mutual Fund

0.52	CII	Blackrock Enhanced	Pair Corr
0.41	ETV	Eaton Vance Tax	Pair Corr
0.41	ETY	Eaton Vance Tax	Pair Corr

Related Correlations Analysis

	BBINX	MSPYX	MDMTX	AUNCX	RYAQX	TWTIX	LOISX	TIMTX
BBINX		0.87	0.89	0.77	-0.49	0.92	1.0	0.91	BBINX
MSPYX	0.87		0.98	0.86	-0.68	0.97	0.87	0.98	MSPYX
MDMTX	0.89	0.98		0.8	-0.56	0.98	0.89	0.99	MDMTX
AUNCX	0.77	0.86	0.8		-0.66	0.84	0.78	0.81	AUNCX
RYAQX	-0.49	-0.68	-0.56	-0.66		-0.58	-0.48	-0.58	RYAQX
TWTIX	0.92	0.97	0.98	0.84	-0.58		0.92	0.99	TWTIX
LOISX	1.0	0.87	0.89	0.78	-0.48	0.92		0.91	LOISX
TIMTX	0.91	0.98	0.99	0.81	-0.58	0.99	0.91		TIMTX
	BBINX	MSPYX	MDMTX	AUNCX	RYAQX	TWTIX	LOISX	TIMTX

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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

LOISX	+ 1.0	BBINX
TIMTX	+ 0.99	MDMTX
TIMTX	+ 0.99	TWTIX
MDMTX	+ 0.98	MSPYX
TIMTX	+ 0.98	MSPYX
TWTIX	+ 0.98	MDMTX

High negative correlations

RYAQX	- 0.68	MSPYX
RYAQX	- 0.66	AUNCX
TIMTX	- 0.58	RYAQX
TWTIX	- 0.58	RYAQX
RYAQX	- 0.56	MDMTX
RYAQX	- 0.49	BBINX

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 Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
BBINX	0.15	(0.02)	0.00	(1.11)	0.00	0.00	0.30	(0.29)	1.27
MSPYX	0.25	(0.03)	0.00	(0.35)	0.00	0.00	0.51	(0.81)	2.03
MDMTX	0.21	(0.02)	0.00	(0.20)	0.00	0.00	0.48	(0.57)	1.72
AUNCX	0.13	(0.02)	0.00	(0.77)	0.00	0.00	0.28	(0.28)	1.31
RYAQX	0.67	0.14	0.13	(0.85)	0.64	(0.76)	1.52	(1.32)	5.22
TWTIX	0.16	(0.02)	0.00	(0.41)	0.00	0.00	0.28	(0.37)	1.31
LOISX	0.16	(0.02)	0.00	(0.77)	0.00	0.00	0.30	(0.39)	1.28
TIMTX	0.20	(0.02)	0.00	(0.34)	0.00	0.00	0.38	(0.47)	1.50

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