Core Plus Correlations

ACCNX Fund

USD 9.09 0.01 0.11%

The current 90-days correlation between Core Plus Fund and Diversified Bond Fund is 0.98 (i.e., Almost no diversification). The correlation of Core Plus 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.

Core Plus Correlation With Market

Significant diversification

The correlation between Core Plus Fund and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Core Plus Fund and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Core Plus 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 board of governors.

Moving together with Core Mutual Fund

1.0	CDBCX	Diversified Bond	Pair Corr
0.63	AMKIX	Emerging Markets	Pair Corr
0.96	TWACX	Short Term Government	Pair Corr
0.96	TWARX	Short Term Government	Pair Corr
0.97	TWAVX	Short Term Government	Pair Corr
0.89	TWGAX	International Growth	Pair Corr
0.89	TWIEX	International Growth	Pair Corr
0.63	TWMIX	Emerging Markets	Pair Corr
0.81	TWTCX	Intermediate Term Tax	Pair Corr
0.74	TWTIX	Intermediate Term Tax	Pair Corr
0.96	TWUSX	Short Term Government	Pair Corr
0.97	TWUOX	Short Term Government	Pair Corr
0.77	TWWOX	Intermediate Term Tax	Pair Corr

Moving against Core Mutual Fund

0.5	AMEIX	Equity Growth	Pair Corr
0.42	TWCCX	Ultra Fund C	Pair Corr
0.39	TWCIX	Select Fund Investor	Pair Corr
0.38	TWCAX	Select Fund A	Pair Corr
0.33	TWCGX	Growth Fund Investor	Pair Corr
0.46	TWCUX	Ultra Fund Investor	Pair Corr
0.4	TWSIX	Select Fund I	Pair Corr
0.34	TWGIX	Growth Fund I	Pair Corr
0.47	TWUIX	Ultra Fund I	Pair Corr
0.45	TWUAX	Ultra Fund A	Pair Corr

Related Correlations Analysis

	ADFIX	ABHIX	CPTNX	APOIX	ACSNX
ADFIX		0.5	1.0	0.66	0.9	ADFIX
ABHIX	0.5		0.44	0.6	0.65	ABHIX
CPTNX	1.0	0.44		0.64	0.88	CPTNX
APOIX	0.66	0.6	0.64		0.6	APOIX
ACSNX	0.9	0.65	0.88	0.6		ACSNX
	ADFIX	ABHIX	CPTNX	APOIX	ACSNX

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Risk-Adjusted Indicators

There is a big difference between Core Mutual Fund performing well and Core Plus 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 Core Plus' 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
ADFIX	0.24	(0.07)	(2.09)	0.33	(0.65)	1.53
ABHIX	0.12	(0.03)	(0.24)	0.20	(0.39)	0.98
CPTNX	0.24	(0.08)	(2.11)	0.32	(0.64)	1.62
APOIX	0.15	(0.06)	(0.69)	0.19	(0.29)	2.59
ACSNX	0.07	(0.02)	(3.77)	0.10	(0.10)	0.61

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