Zacks Dividend Correlations

ZDIVX Fund

USD 25.84 0.09 0.35%

The current 90-days correlation between Zacks Dividend and Congress Mid Cap is 0.58 (i.e., Very weak diversification). The correlation of Zacks Dividend 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.

Zacks Dividend Correlation With Market

Poor diversification

The correlation between Zacks Dividend Fund and DJI is 0.6 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Zacks Dividend Fund and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Zacks Dividend 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 real.

Moving together with ZACKS Mutual Fund

1.0	ZDIIX	Zacks Dividend	Pair Corr
0.92	VVIAX	Vanguard Value Index	Pair Corr
0.87	DOXGX	Dodge Cox Stock	Pair Corr
0.94	AFMFX	American Mutual	Pair Corr
0.94	FFMMX	American Funds American	Pair Corr
0.94	FFFMX	American Funds American	Pair Corr
0.94	AMRMX	American Mutual	Pair Corr
0.94	AMFFX	American Mutual	Pair Corr
0.94	AMFCX	American Mutual	Pair Corr
0.96	DODGX	Dodge Stock Fund	Pair Corr
0.92	VIVAX	Vanguard Value Index	Pair Corr
0.61	ERH	Allspring Utilities And	Pair Corr
0.75	CSJZX	Cohen Steers Realty	Pair Corr
0.75	CSRSX	Cohen Steers Realty	Pair Corr
0.77	CTYCX	American Funds Lege	Pair Corr
0.72	EVUYX	Wells Fargo Advantage	Pair Corr
0.73	MFSIX	Mfs Series Trust	Pair Corr

Moving against ZACKS Mutual Fund

0.53

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Pair Corr

Related Correlations Analysis

	IMIDX	SOPYX	POLIX	POIIX	SBHAX
IMIDX		0.43	0.82	0.12	0.98	IMIDX
SOPYX	0.43		0.58	0.43	0.51	SOPYX
POLIX	0.82	0.58		0.57	0.9	POLIX
POIIX	0.12	0.43	0.57		0.29	POIIX
SBHAX	0.98	0.51	0.9	0.29		SBHAX
	IMIDX	SOPYX	POLIX	POIIX	SBHAX

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Risk-Adjusted Indicators

There is a big difference between ZACKS Mutual Fund performing well and Zacks Dividend 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 Zacks Dividend'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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
IMIDX	0.96	(0.16)	(0.24)	1.41	(2.59)	5.80
SOPYX	0.65	(0.09)	(0.21)	1.14	(1.48)	5.79
POLIX	0.82	(0.07)	(0.15)	1.38	(2.39)	4.45
POIIX	0.74	0.04	(0.02)	1.76	(1.91)	5.09
SBHAX	0.74	(0.09)	(0.17)	1.34	(1.92)	4.09

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