Short Term Correlations

CFSTX Fund

USD 16.20 0.01 0.06%

The current 90-days correlation between Short Term and Wilmington Diversified Income is 0.14 (i.e., Average diversification). The correlation of Short Term 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.

Short Term Correlation With Market

Significant diversification

The correlation between The Short Term and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding The Short Term 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 The Short Term. 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 Short Mutual Fund

0.61	KTXIX	Kansas Tax	Pair Corr
0.78	CFBNX	Bond Fund	Pair Corr
0.68	CFMOX	Missouri Tax	Pair Corr
0.62	CFNLX	National Tax	Pair Corr
0.69	EASDX	Eaton Vance Short	Pair Corr
0.65	VFIRX	Vanguard Short Term	Pair Corr
0.62	VFISX	Vanguard Short Term	Pair Corr
0.65	VSGBX	Vanguard Short Term	Pair Corr
0.65	VSGDX	Vanguard Short Term	Pair Corr
0.68	FUMBX	Fidelity Short Term	Pair Corr
0.7	ECLDX	Eaton Vance Short	Pair Corr
0.68	EALDX	Eaton Vance Short	Pair Corr
0.69	EILDX	Eaton Vance Short	Pair Corr
0.7	VWIAX	Vanguard Wellesley Income	Pair Corr
0.87	MINFX	Mfs International Value	Pair Corr
0.65	NSITX	Northern Short-intermedia	Pair Corr
0.7	VMSAX	Vanguard Multi Sector	Pair Corr
0.61	ARRZX	Amg River Road	Pair Corr
0.61	OSIIX	Oppenheimer Global Strtgc	Pair Corr

Moving against Short Mutual Fund

0.58	CFGRX	Growth Fund	Pair Corr
0.51	CFAGX	Midcap Growth	Pair Corr
0.33	TCTGX	Transamerica Cleartrack	Pair Corr
0.37	TCSUX	Cleartrack 2020 Class	Pair Corr
0.33	TCTJX	Transamerica Cleartrack	Pair Corr
0.32	TDKTX	Cleartrack 2015 Class	Pair Corr

Related Correlations Analysis

	WDIAX	DIFIX	PGBAX	ACDOX	JDJRX	BDVFX	FXOKX
WDIAX		0.58	0.5	0.29	0.84	0.31	0.65	WDIAX
DIFIX	0.58		0.95	0.92	0.46	0.91	0.89	DIFIX
PGBAX	0.5	0.95		0.96	0.44	0.87	0.87	PGBAX
ACDOX	0.29	0.92	0.96		0.26	0.92	0.79	ACDOX
JDJRX	0.84	0.46	0.44	0.26		0.21	0.54	JDJRX
BDVFX	0.31	0.91	0.87	0.92	0.21		0.72	BDVFX
FXOKX	0.65	0.89	0.87	0.79	0.54	0.72		FXOKX
	WDIAX	DIFIX	PGBAX	ACDOX	JDJRX	BDVFX	FXOKX

Click cells to compare fundamentals

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Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Short Mutual Fund performing well and Short Term 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 Short Term'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
WDIAX	0.65	0.04	0.07	0.00	0.90	(0.64)	1.23	(1.48)	3.64
DIFIX	0.28	0.02	0.17	0.01	0.35	(0.33)	0.58	(0.57)	1.51
PGBAX	0.14	0.00	0.38	(0.04)	0.12	(0.18)	0.34	(0.25)	0.85
ACDOX	0.25	0.00	0.24	(0.07)	0.26	(0.30)	0.55	(0.44)	1.46
JDJRX	0.33	0.00	0.15	(0.21)	0.40	(0.40)	0.66	(0.75)	2.62
BDVFX	0.26	0.00	0.00	(0.11)	0.00	0.00	0.54	(0.54)	1.59
FXOKX	0.73	0.12	0.13	0.11	1.00	(0.77)	1.39	(1.38)	6.15

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