Aam/himco Short Correlations

Mutual Funds . USA . 
Fund . Aamhimco Short Duration
ASDIX Fund  USD 10.07  0.01  0.1%   
The current 90-days correlation between Aamhimco Short Duration and Artisan Small Cap is 0.06 (i.e., Significant diversification). The correlation of Aam/himco Short 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.

Aam/himco Short Correlation With Market

Average diversification

The correlation between Aamhimco Short Duration and DJI is 0.12 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Aamhimco Short Duration 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 Aamhimco Short Duration. 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 AAM/HIMCO Mutual Fund

  0.99ASDAX Aamhimco Short DurationPairCorr
  1.0ASDCX Aamhimco Short DurationPairCorr
  0.9CPUCX Aam Select IncomePairCorr
  0.92CPUAX Aam Select IncomePairCorr
  0.93CPUYX Aaminsight Select IncomePairCorr
  0.92CPUIX Aam Select IncomePairCorr
  0.92PTSPX Pimco Short TermPairCorr
  0.92PTSHX Short Term FundPairCorr
  0.92PSFAX Short Term FundPairCorr
  0.92PTSRX Short Term FundPairCorr
  0.96PSDNX Putnam Ultra ShortPairCorr
  0.95LUSNX Lord Abbett UltraPairCorr
  0.98VUBFX Vanguard Ultra-short-termPairCorr
  0.95PSDRX Putnam Short DurationPairCorr
  0.96PSDYX Putnam Short DurationPairCorr
  0.84GAAKX Gmo Alternative AlloPairCorr
  0.83GAAGX Gmo Alternative AlloPairCorr
  0.97GPBFX Gmo E PlusPairCorr
  0.81WARCX Wells Fargo AdvantagePairCorr
  0.97TRSHX Tiaa-cref Short-termPairCorr
  0.99ADVNX Advisory ResearchPairCorr
  0.76THMIX Thornburg IntermediatePairCorr
  0.93TGROX Tiaa Cref GreenPairCorr
  0.97PSHYX Pioneer Short TermPairCorr
  0.91MXGBX Great West TempletonPairCorr
  0.95MFAAX American Funds MortgagePairCorr
  0.63AVALX Aegis Value FundPairCorr
  0.97SCINX Deutsche Croci InterPairCorr
  0.93MOALX MoalxPairCorr
  0.75THMCX Thornburg IntermediatePairCorr
  0.81TPISX Tiaa Cref IntlPairCorr

Moving against AAM/HIMCO Mutual Fund

  0.94PQTAX Pimco Trends ManagedPairCorr
  0.93PQTNX Pimco Trends ManagedPairCorr
  0.93PQTIX Aa Pimco TrPairCorr
  0.84GPMFX Guidepath Managed FuturesPairCorr

Related Correlations Analysis

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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   
LMBMX
+ 0.98
ARTSX
LMBMX
+ 0.97
HSCVX
PMDDX
+ 0.97
HSCVX
HSCVX
+ 0.96
ARTSX
PMDDX
+ 0.94
ARTSX
LMBMX
+ 0.92
CIPNX
  
High negative correlations   
TISVX
- 0.56
ARTSX
LMBMX
- 0.55
TISVX
HSCVX
- 0.45
TISVX
CIPNX
- 0.41
TISVX
PMDDX
- 0.4
TISVX

Risk-Adjusted Indicators

There is a big difference between AAM/HIMCO Mutual Fund performing well and Aam/himco Short 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 Aam/himco Short'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.

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