California Intermediate-ter Correlations
| BCITX Fund | USD 11.04 0.03 0.27% |
The current 90-days correlation between California Intermediate-ter and California High Yield Municipal is 0.94 (i.e., Almost no diversification). The correlation of California Intermediate-ter 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.
California Intermediate-ter Correlation With Market
Average diversification
The correlation between California Intermediate Term T 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 California Intermediate Term T and DJI in the same portfolio, assuming nothing else is changed.
California |
Moving together with California Mutual Fund
| 0.71 | CDBCX | Diversified Bond | PairCorr |
| 0.98 | TWTCX | Intermediate Term Tax | PairCorr |
| 0.99 | TWTIX | Intermediate Term Tax | PairCorr |
| 0.99 | TWWOX | Intermediate Term Tax | PairCorr |
| 0.77 | NPHIX | High Income Fund | PairCorr |
Related Correlations Analysis
| 0.97 | 0.91 | 0.93 | 0.46 | BCHYX | ||
| 0.97 | 0.97 | 0.98 | 0.6 | SWCAX | ||
| 0.91 | 0.97 | 0.99 | 0.74 | VCAIX | ||
| 0.93 | 0.98 | 0.99 | 0.68 | TWTIX | ||
| 0.46 | 0.6 | 0.74 | 0.68 | BGNMX | ||
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Risk-Adjusted Indicators
There is a big difference between California Mutual Fund performing well and California Intermediate-ter 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 California Intermediate-ter'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| BCHYX | 0.20 | (0.02) | 0.00 | (0.71) | 0.00 | 0.31 | 1.23 | |||
| SWCAX | 0.13 | (0.01) | 0.00 | (0.74) | 0.00 | 0.27 | 0.91 | |||
| VCAIX | 0.14 | (0.01) | 0.00 | (0.38) | 0.00 | 0.35 | 0.80 | |||
| TWTIX | 0.14 | (0.01) | 0.17 | (0.27) | 0.18 | 0.37 | 0.94 | |||
| BGNMX | 0.24 | 0.03 | 0.25 | 1.00 | 0.18 | 0.58 | 1.62 |