Bond Fund Correlations

BFAFX Fund

USD 11.32 0.03 0.27%

The current 90-days correlation between Bond Fund and American High Income is 0.38 (i.e., Weak diversification). The correlation of Bond Fund 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.

Bond Fund Correlation With Market

Good diversification

The correlation between Bond Fund Of and DJI is -0.17 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Bond Fund Of 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 Bond Fund Of. 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 census.

Moving together with Bond Mutual Fund

0.94	FPPPX	American Funds Prese	Pair Corr
0.73	TEBCX	Tax Exempt Bond	Pair Corr
0.78	TECCX	Tax Exempt Fund	Pair Corr
0.65	TEAFX	Tax Exempt Bond	Pair Corr
0.72	TECFX	Tax Exempt Fund	Pair Corr
0.69	TEFEX	Tax Exempt Fund	Pair Corr
1.0	AMUSX	Us Government Securities	Pair Corr
0.73	TEPCX	American Funds Tax	Pair Corr
0.63	TEPFX	American Funds Tax	Pair Corr

Moving against Bond Mutual Fund

0.69	RNGGX	New Economy Fund	Pair Corr
0.69	RNGFX	New Economy Fund	Pair Corr
0.69	RNGHX	New Economy Fund	Pair Corr
0.69	RNGEX	New Economy Fund	Pair Corr
0.68	RNGBX	New Economy Fund	Pair Corr
0.68	RNGAX	New Economy Fund	Pair Corr
0.68	RNNEX	New Economy Fund	Pair Corr
0.66	AMPFX	Amcap Fund Class	Pair Corr
0.65	AMPCX	Amcap Fund Class	Pair Corr
0.53	AMFFX	American Mutual	Pair Corr
0.53	CDJAX	American Funds College	Pair Corr
0.52	AMFCX	American Mutual	Pair Corr
0.48	AMEFX	Income Fund	Pair Corr
0.47	AMECX	Income Fund	Pair Corr
0.45	RNPGX	New Perspective	Pair Corr
0.44	RNPHX	New Perspective	Pair Corr
0.44	RNPFX	New Perspective	Pair Corr
0.43	RNPCX	New Perspective	Pair Corr
0.42	RNPAX	New Perspective	Pair Corr
0.71	ANCFX	American Funds Funda	Pair Corr
0.69	ANEFX	New Economy Fund	Pair Corr
0.68	ANFCX	New Economy Fund	Pair Corr
0.68	ANFFX	New Economy Fund	Pair Corr
0.54	AMRFX	American Mutual	Pair Corr
0.53	AMRMX	American Mutual	Pair Corr
0.49	PGGFX	American Funds Global	Pair Corr
0.44	RNPEX	New Perspective	Pair Corr
0.44	NPFFX	New Perspective	Pair Corr
0.42	NPFCX	New Perspective	Pair Corr

Related Correlations Analysis

	AHTFX	AEGFX	WBFFX	GFAFX	IBFFX
AHTFX		-0.03	-0.44	0.8	-0.34	AHTFX
AEGFX	-0.03		0.55	-0.11	0.45	AEGFX
WBFFX	-0.44	0.55		-0.76	0.97	WBFFX
GFAFX	0.8	-0.11	-0.76		-0.72	GFAFX
IBFFX	-0.34	0.45	0.97	-0.72		IBFFX
	AHTFX	AEGFX	WBFFX	GFAFX	IBFFX

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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

IBFFX	+ 0.97	WBFFX
GFAFX	+ 0.8	AHTFX
WBFFX	+ 0.55	AEGFX
IBFFX	+ 0.45	AEGFX

High negative correlations

GFAFX	- 0.76	WBFFX
IBFFX	- 0.72	GFAFX
WBFFX	- 0.44	AHTFX
IBFFX	- 0.34	AHTFX
GFAFX	- 0.11	AEGFX
AEGFX	- 0.03	AHTFX

Risk-Adjusted Indicators

There is a big difference between Bond Mutual Fund performing well and Bond Fund 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 Bond Fund'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
AHTFX	0.13	0.02	(0.53)	0.32	0.00	(0.20)	0.31	(0.20)	0.93
AEGFX	0.61	(0.12)	0.00	(0.11)	0.00	0.00	1.11	(1.48)	4.03
WBFFX	0.26	(0.05)	0.00	0.71	0.00	0.00	0.44	(0.50)	1.60
GFAFX	0.65	0.01	0.01	0.13	0.87	(0.67)	1.34	(1.64)	4.42
IBFFX	0.15	(0.01)	0.00	0.50	0.00	0.00	0.32	(0.32)	1.03

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