Equity Income Correlations

Mutual Funds . USA . 
Fund . Equity Income Fund
PEIJX Fund  USD 39.27  0.33  0.85%   
The current 90-days correlation between Equity Income and Ab Equity Income is 0.33 (i.e., Weak 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

Average diversification

The correlation between Equity Income Fund and DJI is 0.16 (i.e., Average 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 inflation.

Moving together with Equity Mutual Fund

  0.8SABPX Strategic Asset ManaPairCorr
  0.8SACAX Strategic Asset ManaPairCorr
  0.67PFIJX Strategic Asset ManaPairCorr
  0.62PFIFX Strategic Asset ManaPairCorr
  0.68PFIPX Strategic Asset ManaPairCorr
  0.73SAIPX Strategic Asset ManaPairCorr
  0.82PFLJX Principal Lifetime 2050PairCorr
  0.87PFRSX Real Estate SecuritiesPairCorr
  0.67SAUPX Strategic Asset ManaPairCorr
  0.63PGBAX Global Diversified IncomePairCorr
  0.63PGBLX Global Diversified IncomePairCorr
  0.62PGDIX Global Diversified IncomePairCorr
  0.82PGDRX Diversified Real AssetPairCorr
  0.76PGRTX Smallcap GrowthPairCorr
  0.79PGRUX Global Real EstatePairCorr
  0.8PGSLX Principal Global SusPairCorr
  0.79PGRKX Global Real EstatePairCorr
  0.81SCBPX Strategic Asset ManaPairCorr
  0.75SCIPX Strategic Asset ManaPairCorr
  0.81SCGPX Strategic Asset ManaPairCorr
  0.64PHJEX Principal Lifetime HybridPairCorr
  0.63PHJFX Principal Lifetime HybridPairCorr
  0.62PHJGX Principal Lifetime HybridPairCorr
  0.62PHJBX Principal Lifetime HybridPairCorr
  0.61PHJDX Principal Lifetime HybridPairCorr
  0.65PHJNX Principal Lifetime HybridPairCorr
  0.66PHJQX Principal Lifetime HybridPairCorr

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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