Equity Income Correlations

TWEIX Fund

USD 8.67 0.04 0.46%

The current 90-days correlation between Equity Income and Value Fund Investor is 0.96 (i.e., Almost no 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

Significant diversification

The correlation between Equity Income Fund and DJI is 0.06 (i.e., Significant 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 World Market Map 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

0.87	AMDVX	Mid Cap Value	Pair Corr
0.68	CDBCX	Diversified Bond	Pair Corr
0.61	AMKIX	Emerging Markets	Pair Corr
0.97	TWADX	Value Fund A	Pair Corr
0.72	TWARX	Short Term Government	Pair Corr
0.87	AMVYX	Mid Cap Value	Pair Corr
0.85	AMVRX	Mid Cap Value	Pair Corr
0.86	AMVGX	Mid Cap Value	Pair Corr
1.0	TWEAX	Equity Income	Pair Corr
0.88	TWGAX	International Growth	Pair Corr
0.88	TWIEX	International Growth	Pair Corr
0.61	TWMIX	Emerging Markets	Pair Corr
0.72	TWTCX	Intermediate Term Tax	Pair Corr
0.65	TWTIX	Intermediate Term Tax	Pair Corr
0.71	TWSCX	Strategic Allocation:	Pair Corr
0.69	TWUSX	Short Term Government	Pair Corr
0.97	TWVLX	Value Fund Investor	Pair Corr
0.7	TWUOX	Short Term Government	Pair Corr
0.75	TWWOX	Intermediate Term Tax	Pair Corr
0.9	NPHIX	High Income Fund	Pair Corr

Moving against Equity Mutual Fund

0.34	TWCCX	Ultra Fund C	Pair Corr
0.34	TWCUX	Ultra Fund Investor	Pair Corr
0.34	TWUAX	Ultra Fund A	Pair Corr
0.33	TWUIX	Ultra Fund I	Pair Corr

Related Correlations Analysis

	TWVLX	TWHIX	BEQGX	ACMVX	BIGRX
TWVLX		0.11	0.08	0.93	0.35	TWVLX
TWHIX	0.11		0.95	0.36	0.92	TWHIX
BEQGX	0.08	0.95		0.35	0.94	BEQGX
ACMVX	0.93	0.36	0.35		0.61	ACMVX
BIGRX	0.35	0.92	0.94	0.61		BIGRX
	TWVLX	TWHIX	BEQGX	ACMVX	BIGRX

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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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
TWVLX	0.56	0.05	0.16	1.25	0.62	(0.65)	1.12	(0.91)	3.11
TWHIX	1.20	(0.12)	0.00	1.30	0.00	0.00	1.89	(2.81)	6.40
BEQGX	0.79	(0.12)	0.00	2.16	0.00	0.00	1.25	(1.80)	4.54
ACMVX	0.60	0.01	0.10	0.27	0.71	(0.63)	1.19	(1.21)	2.96
BIGRX	0.60	(0.05)	0.00	(2.06)	0.00	0.00	1.03	(1.39)	2.71

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