Equity Income Correlations

PEIIX Fund  USD 45.37  0.15  0.33%   
The current 90-days correlation between Equity Income and Issachar Fund Class is 0.17 (i.e., Average 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

Good diversification

The correlation between Equity Income Fund and DJI is -0.07 (i.e., Good 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 gross domestic product.

Moving together with Equity Mutual Fund

  0.85VVIAX Vanguard Value IndexPairCorr
  0.84DOXGX Dodge Cox StockPairCorr
  0.92AFMFX American MutualPairCorr
  0.77FFMMX American Funds AmericanPairCorr
  0.77FFFMX American Funds AmericanPairCorr
  0.91AMRMX American MutualPairCorr
  0.71AMFFX American MutualPairCorr
  0.7AMFCX American MutualPairCorr
  0.97DODGX Dodge Stock FundPairCorr
  0.98VIVAX Vanguard Value IndexPairCorr
  0.65SMPSX Semiconductor Ultrasector Steady GrowthPairCorr
  0.82RSNYX Victory Global NaturalPairCorr
  0.82RSNRX Victory Global NaturalPairCorr
  0.82RGNCX Victory Global NaturalPairCorr
  0.82LSHUX Horizon Spin OffPairCorr
  0.81LSHEX Kinetics Spin OffPairCorr
  0.82LSHAX Horizon Spin OffPairCorr
  0.76RMQAX Monthly Rebalance Steady GrowthPairCorr
  0.76RMQHX Monthly Rebalance Steady GrowthPairCorr
  0.97PREIX T Rowe PricePairCorr
  0.75AA Alcoa Corp Fiscal Year End 15th of January 2025 PairCorr
  0.82BAC Bank of America Fiscal Year End 10th of January 2025 PairCorr
  0.77DIS Walt DisneyPairCorr
  0.81JPM JPMorgan Chase Fiscal Year End 10th of January 2025 PairCorr
  0.62T ATT Inc Aggressive PushPairCorr
  0.82AXP American Express Fiscal Year End 24th of January 2025 PairCorr

Moving against Equity Mutual Fund

  0.7PFE Pfizer Inc Fiscal Year End 4th of February 2025 PairCorr
  0.65MRK Merck Company Fiscal Year End 6th of February 2025 PairCorr
  0.63JNJ Johnson Johnson Fiscal Year End 28th of January 2025 PairCorr
  0.62KO Coca Cola Fiscal Year End 11th of February 2025 PairCorr
  0.38BA Boeing Fiscal Year End 29th of January 2025 PairCorr

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.