Intermediate Bond Correlations

Mutual Funds . USA . 
Fund . Intermediate Bond Fund
IBFFX Fund  USD 12.54  0.05  0.40%   
The current 90-days correlation between Intermediate Bond and Bond Fund Of is 0.94 (i.e., Almost no diversification). The correlation of Intermediate 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.

Intermediate Bond Correlation With Market

Significant diversification

The correlation between Intermediate Bond Fund 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 Intermediate Bond Fund 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 Intermediate Bond Fund. 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 Intermediate Mutual Fund

  0.71AMECX Income FundPairCorr
  0.63RNCCX American Funds IncomePairCorr
  0.99FPPPX American Funds PresePairCorr
  0.76AMEFX Income FundPairCorr
  0.84AMHIX American High IncomePairCorr
  0.65TEBCX Tax Exempt BondPairCorr
  0.66TECCX Tax Exempt FundPairCorr
  0.73TEAFX Tax Exempt BondPairCorr
  0.64FPTPX American Funds ConsePairCorr
  0.72TECFX Tax Exempt FundPairCorr
  0.73TEFEX Tax Exempt FundPairCorr
  0.73RNRPX American Funds RetirementPairCorr
  0.99AMUSX Us Government SecuritiesPairCorr
  0.89TEPCX American Funds TaxPairCorr
  0.91TEPAX American Funds TaxPairCorr
  0.91TEPFX American Funds TaxPairCorr

Moving against Intermediate Mutual Fund

  0.52RNGBX New Economy FundPairCorr
  0.52RNGCX New Economy FundPairCorr
  0.51RNGFX New Economy FundPairCorr
  0.51RNGHX New Economy FundPairCorr
  0.51RNGEX New Economy FundPairCorr
  0.49RNGGX New Economy FundPairCorr
  0.49RNGAX New Economy FundPairCorr
  0.6AMPCX Amcap Fund ClassPairCorr
  0.6AMPFX Amcap Fund ClassPairCorr
  0.52RNNEX New Economy FundPairCorr

Related Correlations Analysis

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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   
WBFFX
+ 0.95
BFAFX
AHTFX
+ 0.75
BFAFX
WBFFX
+ 0.74
AHTFX
WSHFX
+ 0.62
SCWFX
WSHFX
+ 0.37
AHTFX
WSHFX
+ 0.17
WBFFX
  
High negative correlations   
SCWFX
- 0.63
BFAFX
WBFFX
- 0.49
SCWFX
SCWFX
- 0.12
AHTFX
WSHFX
- 0.0
BFAFX

Risk-Adjusted Indicators

There is a big difference between Intermediate Mutual Fund performing well and Intermediate 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 Intermediate 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.

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