Low-duration Bond Correlations

GLDYX Fund

USD 12.93 0.01 0.08%

The current 90-days correlation between Low Duration Bond and Scharf Global Opportunity is -0.09 (i.e., Good diversification). The correlation of Low-duration Bond 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.

Low-duration Bond Correlation With Market

Average diversification

The correlation between Low Duration Bond Institutiona 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 Low Duration Bond Institutiona and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Low Duration Bond Institutional. 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 manufacturing.

Moving together with Low-duration Mutual Fund

0.7	GFIZX	Conservative Allocation	Pair Corr
0.63	GFSYX	Strategic Alternatives	Pair Corr
0.68	GGBEX	Global Bond Fund	Pair Corr
0.71	GIEYX	International Equity	Pair Corr
0.65	GIEZX	International Equity	Pair Corr
0.8	GIIYX	International Equity	Pair Corr

Moving against Low-duration Mutual Fund

0.47	GEIYX	Guidestone Growth Equity	Pair Corr
0.35	GEIZX	Guidestone Growth Equity	Pair Corr
0.45	GSCZX	Small Cap Equity	Pair Corr

Related Correlations Analysis

	WRLDX	JAAIX	DIHRX	PIEQX	CSQAX	OPTCX
WRLDX		0.63	0.77	0.72	0.44	0.38	WRLDX
JAAIX	0.63		0.91	0.93	0.91	0.66	JAAIX
DIHRX	0.77	0.91		0.96	0.83	0.67	DIHRX
PIEQX	0.72	0.93	0.96		0.87	0.64	PIEQX
CSQAX	0.44	0.91	0.83	0.87		0.56	CSQAX
OPTCX	0.38	0.66	0.67	0.64	0.56		OPTCX
	WRLDX	JAAIX	DIHRX	PIEQX	CSQAX	OPTCX

Click cells to compare fundamentals

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Risk-Adjusted Indicators

There is a big difference between Low-duration Mutual Fund performing well and Low-duration Bond 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 Low-duration Bond'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
WRLDX	0.53	(0.02)	0.00	0.45	0.00	0.00	0.94	(1.14)	3.19
JAAIX	0.14	0.00	0.40	(0.32)	0.12	(0.20)	0.31	(0.25)	1.00
DIHRX	0.53	0.11	0.21	0.20	0.62	(0.59)	1.16	(0.99)	3.68
PIEQX	0.57	0.08	0.23	(0.53)	0.67	(0.65)	1.16	(1.09)	3.81
CSQAX	0.26	0.02	0.28	(2.26)	0.26	(0.33)	0.59	(0.57)	1.53
OPTCX	0.08	0.00	0.38	(0.07)	0.05	(0.16)	0.21	(0.21)	0.93

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