Income Fund Correlations

Mutual Funds . USA . 
Fund . Income Fund R 6
PICNX Fund  USD 8.56  0.01  0.12%   
The current 90-days correlation between Income Fund R and Angel Oak Financial is 0.3 (i.e., Weak diversification). The correlation of Income Fund 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.

Income Fund Correlation With Market

Average diversification

The correlation between Income Fund R 6 and DJI is 0.11 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Income Fund R 6 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 Income Fund R 6. 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 Income Mutual Fund

  0.78PFIJX Strategic Asset ManaPairCorr
  0.85PFIEX International EquityPairCorr
  0.78PFIFX Strategic Asset ManaPairCorr
  0.82PFISX International Small PanyPairCorr
  0.75PFIPX Strategic Asset ManaPairCorr
  0.8PFRSX Real Estate SecuritiesPairCorr
  0.78SAUPX Strategic Asset ManaPairCorr
  0.83PFUMX Finisterre UnconstrainedPairCorr
  0.93PGBAX Global Diversified IncomePairCorr
  0.95PGBLX Global Diversified IncomePairCorr
  0.96PGDCX Global Diversified IncomePairCorr
  0.93PGDIX Global Diversified IncomePairCorr
  0.89STCCX Short Term IncomePairCorr
  0.75PGRUX Global Real EstatePairCorr
  0.67PGSLX Principal Global SusPairCorr
  0.75PGRKX Global Real EstatePairCorr
  0.68PYHIX High Yield FundPairCorr
  0.65PHJFX Principal Lifetime HybridPairCorr

Moving against Income Mutual Fund

  0.54PFPPX Midcap GrowthPairCorr
  0.54PGWIX Midcap GrowthPairCorr
  0.38PGRTX Smallcap GrowthPairCorr
  0.54PHPPX Midcap GrowthPairCorr

Related Correlations Analysis

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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   
ICFAX
+ 0.9
FIKBX
RYFNX
+ 0.88
FIKBX
RYFNX
+ 0.77
ICFAX
MSVIX
+ 0.76
FIKBX
MSVIX
+ 0.76
ICFAX
RYFNX
+ 0.69
XFINX
  
High negative correlations   
MSVIX
- 0.03
GCFSX

Risk-Adjusted Indicators

There is a big difference between Income Mutual Fund performing well and Income Fund 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 Income Fund'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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