Income Stock Correlations

USISX Fund

USD 17.79 0.10 0.56%

The current 90-days correlation between Income Stock and Wmcanx is 0.29 (i.e., Modest diversification). The correlation of Income Stock 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 Stock Correlation With Market

Weak diversification

The correlation between Income Stock Fund and DJI is 0.37 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Income Stock 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 Income Stock 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 state.

Moving together with Income Mutual Fund

0.69	SSGSX	Victory Sycamore Small	Pair Corr
0.76	SBALX	Victory Strategic	Pair Corr
0.66	SSVSX	Victory Special Value	Pair Corr
0.78	MMECX	Victory Integrity	Pair Corr
0.71	MMEAX	Victory Integrity	Pair Corr
0.66	RPPRX	Victory Rs Partners	Pair Corr
0.92	MMIJX	Victory Integrity Mid	Pair Corr
0.71	MMMMX	Victory Integrity	Pair Corr
0.74	MMMSX	Victory Integrity	Pair Corr
0.81	RSINX	Victory Rs Investors	Pair Corr
0.81	RSIYX	Victory Rs Investors	Pair Corr
0.75	RSPFX	Victory Rs Partners	Pair Corr

Related Correlations Analysis

	WMCANX	WABMSX	ABVCX	OPTCX	IAADX	FTUFOX	XHYIX	RPBAX
WMCANX		0.99	0.91	0.13	0.24	0.07	0.44	0.44	WMCANX
WABMSX	0.99		0.9	0.13	0.29	0.13	0.47	0.49	WABMSX
ABVCX	0.91	0.9		0.2	0.22	-0.1	0.49	0.52	ABVCX
OPTCX	0.13	0.13	0.2		0.69	0.2	-0.21	0.29	OPTCX
IAADX	0.24	0.29	0.22	0.69		0.64	-0.04	0.39	IAADX
FTUFOX	0.07	0.13	-0.1	0.2	0.64		0.17	0.38	FTUFOX
XHYIX	0.44	0.47	0.49	-0.21	-0.04	0.17		0.73	XHYIX
RPBAX	0.44	0.49	0.52	0.29	0.39	0.38	0.73		RPBAX
	WMCANX	WABMSX	ABVCX	OPTCX	IAADX	FTUFOX	XHYIX	RPBAX

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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

WABMSX	+ 0.99	WMCANX
ABVCX	+ 0.91	WMCANX
ABVCX	+ 0.9	WABMSX
RPBAX	+ 0.73	XHYIX
IAADX	+ 0.69	OPTCX
FTUFOX	+ 0.64	IAADX

High negative correlations

XHYIX	- 0.21	OPTCX
FTUFOX	- 0.1	ABVCX
XHYIX	- 0.04	IAADX

Risk-Adjusted Indicators

There is a big difference between Income Mutual Fund performing well and Income Stock 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 Stock'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
WMCANX	0.61	0.05	0.08	0.01	0.77	(0.66)	1.37	(1.29)	3.48
WABMSX	0.62	0.06	0.10	0.03	0.82	(0.62)	1.38	(1.29)	3.66
ABVCX	0.67	0.01	0.00	(0.06)	0.00	0.00	1.34	(1.63)	3.68
OPTCX	0.07	(0.01)	0.27	1.48	0.09	(0.17)	0.21	(0.21)	0.93
IAADX	0.20	0.01	0.32	0.20	0.16	(0.26)	0.44	(0.33)	0.88
FTUFOX	0.10	0.01	0.62	0.27	0.00	(0.10)	0.20	(0.19)	0.60
XHYIX	0.16	(0.04)	0.00	1.15	0.00	0.00	0.25	(0.49)	1.31
RPBAX	0.57	(0.11)	0.00	0.36	0.00	0.00	0.93	(1.07)	6.85

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