Bond Fund Correlations

CFAFX Fund  USD 11.08  0.04  0.36%   
The current 90-days correlation between Bond Fund and Gabelli Convertible And is 0.03 (i.e., Significant 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

Significant diversification

The correlation between Bond Fund Of and DJI is 0.06 (i.e., Significant 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

  0.63AMECX Income FundPairCorr
  0.84RNEBX New World FundPairCorr
  0.62AMFCX American MutualPairCorr
  0.61AMFFX American MutualPairCorr
  0.66RNCCX American Funds IncomePairCorr
  0.84FPPPX American Funds PresePairCorr
  0.63AMEFX Income FundPairCorr
  0.79AMHIX American High IncomePairCorr
  0.73TEBCX Tax Exempt BondPairCorr
  0.82TECCX Tax Exempt FundPairCorr
  0.73TEAFX Tax Exempt BondPairCorr
  0.66FPTPX American Funds ConsePairCorr
  0.73TECFX Tax Exempt FundPairCorr
  0.8TEFEX Tax Exempt FundPairCorr
  0.61AMRFX American MutualPairCorr
  0.73RNRPX American Funds RetirementPairCorr
  0.94AMUSX Us Government SecuritiesPairCorr
  0.89TEPCX American Funds TaxPairCorr
  0.8TEPAX American Funds TaxPairCorr
  0.81TEPFX American Funds TaxPairCorr
  0.85RNWFX New World FundPairCorr

Related Correlations Analysis

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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.