California Intermediate-ter Correlations

BCITX Fund

USD 11.24 0.01 0.09%

The current 90-days correlation between California Intermediate-ter and California High Yield Municipal is 0.97 (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.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in California Intermediate Term Tax Free. 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 estimate.

Moving together with California Mutual Fund

0.76	AMDVX	Mid Cap Value	Pair Corr
0.9	CDBCX	Diversified Bond	Pair Corr
0.74	TWADX	Value Fund A	Pair Corr
0.72	AMVYX	Mid Cap Value	Pair Corr
0.72	AMVRX	Mid Cap Value	Pair Corr
0.72	AMVGX	Mid Cap Value	Pair Corr
0.77	TWEIX	Equity Income	Pair Corr
0.76	TWGGX	Global Growth	Pair Corr
0.69	TWHIX	Heritage Fund Investor	Pair Corr
0.97	TWTCX	Intermediate Term Tax	Pair Corr
0.94	TWTIX	Intermediate Term Tax	Pair Corr
0.76	TWSCX	Strategic Allocation	Pair Corr
0.73	TWSAX	Strategic Allocation	Pair Corr
0.76	TWSMX	Strategic Allocation	Pair Corr
0.77	TWVLX	Value Fund Investor	Pair Corr
0.95	TWWOX	Intermediate Term Tax	Pair Corr
0.81	ANTMX	Nt International Small	Pair Corr
0.8	ANTGX	Nt Non Intrinsic	Pair Corr
0.63	AOCIX	One Choice Portfolio	Pair Corr

Moving against California Mutual Fund

0.46

BTTRX

Zero Pon 2025

Pair Corr

Related Correlations Analysis

	BCHYX	SWCAX	VCAIX	TWTIX	BGNMX
BCHYX		0.89	0.86	0.81	0.79	BCHYX
SWCAX	0.89		0.99	0.98	0.92	SWCAX
VCAIX	0.86	0.99		0.99	0.94	VCAIX
TWTIX	0.81	0.98	0.99		0.93	TWTIX
BGNMX	0.79	0.92	0.94	0.93		BGNMX
	BCHYX	SWCAX	VCAIX	TWTIX	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	0.19	(0.01)	0.04	(0.30)	0.29	(0.22)	0.41	(0.51)	1.53
SWCAX	0.14	0.00	0.09	0.08	0.16	(0.16)	0.27	(0.36)	1.09
VCAIX	0.14	0.01	0.12	0.13	0.15	(0.17)	0.27	(0.35)	1.06
TWTIX	0.14	0.01	0.10	0.17	0.17	(0.17)	0.37	(0.37)	1.22
BGNMX	0.27	0.03	0.13	0.24	0.21	(0.37)	0.57	(0.56)	1.72

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